For the sixth consecutive month, property sales at levels never seen before in the 100-year history of the Fraser Valley Real Estate Board (FVREB). Family-sized homes, prices climbed 3 to 5 per cent in February alone and sold on average in three weeks.
Fueling the demand is the combination of record-low interest rates and the response to the pandemic. People are also choosing to move to the Fraser Valley, seeking more usable space, a better quality of life, and they recognize that their housing dollar goes further. The challenge is selection.
We anticipate as the vaccination roll-out accelerates, confidence to list will increase and we will see inventory return to more normal levels. In the meantime, realtors will continue to ensure consumer safety is at the forefront of all home viewings. Family-sized homes, prices climbed 3 to 5 per cent in February alone and sold on average in three weeks.