Fraser Valley Real Estate Update

The Fraser Valley market stats are in for the month of November! For the 5th consecutive month, demand for real estate in the Fraser Valley is through the roof with continued record-breaking highs!

Since the summer, we’ve seen the strongest demand almost 100 YEARS specifically for detached and townhomes. We are currently in a seller’s market for detached homes.

There are a few reasons for this. The Spring market was delayed and didn’t really start until the Summer which lead to a lot of pent-up demand. The inventory levels are very low resulting in multiple offers. Mortgage rates are still historically low. And with COVID, many families are working & studying from home hence they are in need of more space.

For these reasons, if you’re thinking about making a move, right now may be a good time to sell.

However, keep in mind that these are macro numbers for the entire Fraser Valley. Every neighborhood is different. So if you are thinking of selling your home send me a note or give me a call and we can review the latest numbers in your specific South Surrey / White Rock neighborhood.

Glen Hopkins, PREC*
Macdonald Realty
604-612-5164
glen@glenhopkins.com