The Fraser Valley housing market has now reached a more healthy balance after September saw sales slow down and new listings rise, according to newIn September, the Fraser Valley region recorded a grand total of 1,100 home sales after seeing 1,273 homes sold in August. The September 2023 total was still a 22.6% improvement when compared to September 2022, however.
"With inventory levels continuing on a slow and steady rise, together with slow sales, what we are seeing is a more balanced market," said FVREB Chair Narinder Bains. "If this trend continues, increased new listings will help to maintain a balanced market, giving buyers greater choice.
With 1,100 home sales and 6,532 total active listings, the sales-to-active-listings ratio is now at 16.8%, after being at 20.2% in August, indicating a balanced market, with movement towards the direction of buyers.