Fraser Valley Real Estate Board - Stats for March 2023
Stats from March 2023
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The Real Estate market in the Fraser Valley has been significantly better since February 2023 at sales ratio of 25%, and now in March 2023 at sales ratio of 44% -- overall (for all property types) -- now in a strong 'Sellers Market'.
Looking at Surrey, BC, Canada (for detached homes); the February 2023 sales ratio was at 14% -- at a 'Balanced Market'; and, for March 2023 sales ratio at 28% -- switching to a 'Seller's Market'. The average sales price was practically unchanged - from Feb 2023 to Mar 2023 for detached homes in Surrey, BC, now at: $1,430,000. The inventory increased in Feb by 10% -- to 490 homes listed; and the sales, a WHOPPING 125% MORE in comparison to Feb 2023 for all detached homes in Surrey, BC -- to 137 SOLDS in Mar 2023. Lastly, the Days-On-Market (DOM) dropped by 32% from Feb 2023 to 13 Days-On-Market (DOM). For the most part, we are in a GOOD 'Seller's Market' (ask me what this means) at 28% Sales Ratio for the entire Surrey detached single family homes.
The Detached Homes (Single Family Homes) in Sullivan Station Community - market has picked up since Feb 2023 at Sales Ratio of 9%; to quite STRONG Sales Ratio at 32% for Mar 2023 --> a Strong 'Seller's Market'.
“After months of uncertainty made it difficult for buyers and sellers to re-enter the housing market, we may well be seeing a turning point,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board. “The pause in rate hikes has helped to restore a much-needed sense of predictability, which is building consumer confidence. As a result, we’re starting to see more traffic at open houses along with more multiple offer situations.” (Source: News Release Fraser Valley Real Estate Board, April 4, 2023)
To find out more about the condos and townhomes market in the Fraser Valley, or any real estate stats for the Province of British Columbia, Canada -- please connect with me, and I will be happy to coach and guide you further.
To connect with me, please feel free to call/text me at: (778) 558-4427, or, email me at: Mir@MirKhan.ca for full details and understanding of how the market is doing, right now. I can share the most recent Fraser Valley and the Greater Vancouver Stats with you. Please call us; my Team & I will be glad to be of service. :-)
Thanks for your time in reading this blog of the stats for March 2023 in the Fraser Valley.
Mir Khan Personal Real Estate Corporation
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Certified International Property Specialist, International Realtor Member
Century 21 AAA Realty Inc.
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Stats for for March 2023 - Fraser Valley Real Estate