Fraser Valley Real Estate Data Through June
- 1,317 transactions recorded on the MLS in June
- 13% decrease from May
- Down by over 30% from last year and the 10 year Average
- Inventory has built for the 6th straight month to 8,350 active listings
- New Listings decreased 9% in June
- Sales-to-active listings ratio of 16%
- Most markets are trending from sellers to balanced or balanced to buyers
What I Am Seeing
- Days on market increased slightly
- Overall benchmark prices were down slightly in June
- Fewer new listings, with existing inventory having trouble finding buyers
- Failed listings have stabilized, as sellers have settled in for the long haul
WHAT TO WATCH
- Well positioned homes continue to sell quickly skewing days-on-market stats, but multiple offers are becoming more and more rare
- The overall market market continues to cool, expect HPI to fall further through the Summer.
- New RTA rules and capital gains changes will likely have negative consequences
- The previous rate drop had little effect, and future drops are expected to be delayed
If you have any questions about the real estate market in The Fraser Valley or in Canada for that matter, please feel free to reach out! If you are wondering if it is a good time to sell or if you are trying to find the right home for you and your family, I would be happy to help with that as well.
