Your Neighbourhood Market Update, December 2019
After a sluggish first half of the year, property sales in the Fraser Valley started picking up speed in the summer and finished strong in December, but not enough to surpass last year’s sales totals.
Since the summer months, we have been on a decline in amount of inventory available. This has caused quick sales and strong selling prices for homes that have come on the market in recent months due to pent up demand. I personally had 2 multiple offer situations with two separate Buyers last week alone.
I believe that as we move out of the winter more and more homes will begin to come on the market and as a result, we will see more of a balanced market.
Benchmark Home Prices:
Single Family Detached: At $953,700
Townhomes: At $514,900
Apartments: At $405,500
Full monthly package here
Breakdown by neighbourhood here