July’s market update is live! As we head into the dog-days of summer, real estate is still going strong in the Fraser Valley. We are still in a Seller’s Market, with a 43% home selling rate.
There were a total of 4087 active listings in July. This is up from the previous year slightly. There were 1744 sales made in July, which was on par with last year’s sales at this time as well.
One of the most interesting, and still a concern for many first time and buyers in general, was the rise in sale price of 15% from last year. The main issue that is driving prices up continuously is the lack of inventory. Despite a record setting month in construction, there is still a high demand and low supply.
If you would like to see your snap-stats report for your area, get in touch with us and we will set you up!