March 2018 Fraser Valley Real Estate Update

Spring is usually the perfect time to market properties for sale. And this year is no exception.

The past couple of months have shown a decrease in inventory compared to previous 10 years for the same period, so competition is less—good news for sellers! The market for attached homes is particularly brisk.

The Fraser Valley Real Estate Board says, “With the sales-to-actives ratio for townhomes and apartments at 67 per cent and 75 per cent respectively, sellers can expect interest if they price their homes effectively. Talk to your REALTOR® who can evaluate your local market and find the right price point for success.”

Looking to Buy or Sell a Townhome or Apartment?

The market for attached homes remains hot and sellers can expect offers within a couple of weeks. Buyers, on the other hand, may find the lack of available properties to be disheartening, and can come up against a multiple offer situation where the skills of an experienced negotiator can come in handy.

“Attached apartment inventory in particular has struggled to keep up with the shift in demand we saw prominently throughout last year,” said John Barbisan, Board President. “Without sufficient supply, it has become increasingly challenging for buyers looking to enter the market at that level.”

Buyers can contact me for market updates before townhouse and apartment listings are made public. It helps to have an experienced Realtor on your side, ready to jump on available properties.

Looking to Buy or Sell a Detached Home?

As a seller’s agent, my goal is to get you the most money for your home, and attract multiple offers whenever possible.

You want to make sure your property stands out from the rest, so it’s crucial to work with a REALTOR® with a marketing strategy that will bring out buyers!

“Based on recommendations I found on Mission Neighbours, I met realtor Bob McLean last night for the first time. What a phenomenal guy! Straight shooter, honest and very easy to get along with. If you have any upcoming real estate questions or even want to know how your house may fair in today’s market, I would strongly recommend you meet this amazing guy!” Stefany Tunshell

If you are on the hunt for a home, my first priority as a buyer’s agent is to represent your best interests and negotiate a price with the best terms for your situation.

“Bob McLean epitomizes everything a professional realtor should be. Our experience with him was outstanding. Bob was available 24/7, always prepared and completely honest about the details of every property we viewed.” Kathy Mallo

February Real Estate Sales Stats for Mission, BC

Detached Homes:

  • Benchmark Price: $653,500
  • Increase from January, 2018: 1.2%
  • Increase from February, 2017: 20.1%

Townhomes:

  • Benchmark Price: $433,400
  • Increase from January, 2018: 0.3%
  • Increase from February, 2017: 25.4%

Apartments:

  • Benchmark Price: $315,400
  • Increase from January, 2018: 2.6%
  • Increase from February, 2017: 33.7%

SELLERS . . . I offer free evaluations to anyone interested in finding out what their home is worth and gaining insight into what the competition looks like.

Buyers. . . get me working for you to find a home that’s right for you at the right price.

CONTACT ME TODAY by phone (604) 302-0177 or email bob@BobMclean.ca.

By | 2018-03-07T10:14:34+00:00 March 7th, 2018|Events in Mission and the Fraser Valley|Comments Off on March 2018 Fraser Valley Real Estate Update