Fraser Valley Inventory reaches highest level in 2016 as sales settle for Fall

(October 27, 2016 )

Housing sales in the Fraser Valley continued to slow throughout September, dropping below the ten-year
sales average for the month for the first time this year. We are experiencing an environment where the summer sizzle has ceased, and demand is producing numbers inline with what we’ve seen historically.

The level of available inventory is rising as we had hoped, and homes are taking a bit longer to sell than they have throughout the year. This shift gives buyers a bit more room to navigate the market.  The sales to active listings ratio has moved towards a more normalized state.

Comparing August to September the benchmark prices have remained flat, signalling a shift in market dynamics towards a balanced market. But when placed against last year stats at this time, prices are up significantly.