January 2022 Market Update

2021 has officially been crowned the busiest year in 100 years for real estate according to the Fraser Valley Real Estate Board.

Sales shot up 40% and average prices increased 30-60%. This may have something to a steady decrease in inventory throughout all of 2021 which has continued to 2022. We are now dealing with the the lowest level of active listing on record in this new year- with a total of less than 2000 active listing as of January 1st in the Fraser Valley.

Demand for homes could be attributed to the affect of COVID-19 and the increasing amount of people who now work from home. This has also caused speculation across the community on whether this might just be a temporary wave in the real estate market or it could be the start of a drastic change in the industry.

The future of the market is filled with uncertainty, which makes confidence in a trusted realtor a matter with growing importance.

 Contact us here to find the right realtor.

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