Data taken from FVREB
In April, Fraser Valley's total Active inventory increased to 5387 units and total number of sales dropped by 36.6% compared to March 2022. We appear to be trending towards a more balance market, the average days on market is about 15 days, easing the pressure on buyers. Spring is typically when we see the most activity in our market. Both in terms of sales as well as listings. For the first time in a long time, our real estate market is showing signs of fatigue with the rising interest rates and lack of affordability. That said, the lack of supply remains a concern for which there is no quick remedy.
If you need a Langley Realtor to help you find your next home or to sell your place while sellers are still in control, give me a call.