According to the Fraser Valley Real Estate Board, March saw the highest-ever recorded number of sales since the board's inception in 1921. Charles Wiebe, president of the board, said, “This market is uncharted territory for Fraser Valley real estate. It’s typical for spring to see a jump in activity; however, March came and went at a break-neck, record-setting pace. I’ve never seen anything like it." For the first time ever, the MLS recorded over 3000 sales in the Fraser Valley and demand far outpaced supply. Wiebe said, “This is typically a busy time of year to buy and sell real estate, and those seeking homes are hungry to purchase. Unfortunately, inventory is struggling to keep up. With that said, if you’re thinking of selling your home, I encourage you to consider your current opportunities. The market is in your favour.”
With all these sales however, the benchmark price of condos, townhouses and detached homes also rose. It can be frustrating for those looking to get into the market for the first time. Speaking to a realtor, that knows the area well, is a hard worker and is a little creative on finding the perfect home, can be your best chance at transitioning into the market.
Original article is from REW and can be found at: https://www.rew.ca/news/march-sees-all-time-high-home-sales-in-fraser-valley-fvreb-1.2223440?rew.ca%2Fnews=rew.ca%2Fnews