Is Now the Time to Sell?
Record breaking home sales across the Fraser Valley in the first quarter of 2016 make this an excellent time to consider selling your home! In March 2016 alone there has been a 62% increase in home sales since 2015, and 3,006 properties changed hands in total.
In the official Fraser Valley Real Estate Board March 2016 Statistics Package, Charles Wiebe comments that this is a traditionally busy time of year, but that “inventory is struggling to keep up” with demand.
This potentially makes it a opportune time for those contemplating a home sale, as the market is currently on your side.
For the Fraser Valley, the average length of time to sell a home in March 2016 was only 17 days, compared to 43 days the previous year. Momentum in the real estate market has also pushed up the average price per single family detached home from a benchmark of $588,500.00 in 2015 to $741,000.00 in 2016, a 26% increase.
Fraser Valley townhouses in Surrey, Langley, and other nearby cities are also on the rise, increasing 14.9% from $299,700.00 in 2015 to $344,300.00 in 2016. And condos/ apartments have also increased by 13.8%, from $190,800.00 to $217,200.00, in March of 2016.
These conditions of the current sellers market can make it very difficult for first-time home buyers as well as homeowners looking to transition between neighborhoods or upgrading from townhouse to house. Whether you’re buying or selling, Wiebe encourages you to talk “…to a local REALTOR®, and discuss what you want and what’s possible for you. We can help you get there.”
There simply isn’t a better time to sell! If you have any questions about sales opportunities in the current market, or are looking for a Realtor through which you can sell your home, contact Natasha Taylor of Sutton WestCoast Realty by phone or text at 778-316-4290. You can also email Natasha at ntaylor@sutton.com.
