The statistics for the month of April 2020 are in from the Fraser Valley Real Estate Board. The sales and inventory have both dropped leaving the market stable. The market is not as robust as it was prior to restrictions being put in place but there are definitely serious buyers looking.
The stats below for the Fraser Valley also show this (a range of 12-20% is considered a balanced market):
As Chris Shields, President of the Fraser Valley Real Estate Board says, “We were deemed a non‐health essential service because there are always people who need to buy or sell a home, potentially due to the economic downturn. So, for those who need real estate guidance now who want to start preparing for the pending market rebound, feel free to call your Realtor to get the advice you need.”
We are all following health and safety protocols and strict preventative measures are being taken by all in the real estate industry so everyone can feel as safe as possible.
A positive outcome in all of this is a heightened consideration of others, their health and well being – which is better for all involved.
If you have any questions about how to prepare your home for sale or want information on the current market value of your property and what the future may hold for real estate, please do not hesitate to give me a call.