“Homebuyers showed no signs of slowing down last month as Fraser Valley REALTORS® experienced their second busiest November on record.”
The current News Release by the Fraser Valley Real Estate Board (FVREB) confirms yet another very busy month as we near the end of 2015. Here are four main real estate takeaways.
4. Unusually busy November for BC real estate.
There has been the usual seasonal dip in the number of new real estate listings on the market but no decline in the demand for real estate listings.There were 1,854 new real estate listings in November. This is:
- 14% fewer than October 2015
- 6% more than November 2014
In total, there was 5,761 active real estate listings in the Fraser Valley in November 2015. This is 31% less than what was available during November 2014.
3. Very low housing inventory in the Fraser Valley.
The FVREB states that we haven’t experienced this low of housing inventory since Spring of 2006. This is true but must be taken with a grain of salt. This is very dependent on the property type. For example, ground-oriented houses are in highest demand with one in every two active listings selling. Comparatively, only one in five condos (apartments) is selling. This means that those shopping to buy a condo have a much greater selection and better negotiating power.
2. Now is a very good time to capitalize on your equity.
Jorda Maisey, President of the Fraser Valley Real Estate Board says, “If you’ve been thinking about selling your home to capitalize on the equity you’ve acquired, now is a very good time.” This is a general statement, but if you have been considering the option of selling your home now is the perfect time to speak with a Surrey real estate agent to explore your options and the benefits you could experience by listing your house now.
1. This competitive market requires professional help.
Finally, Maisey acknowledges that this is a very competitive real estate market and that is why the Fraser Valley Real Estate Board is there to help. Professionals like the real estate agents of Sutton WestCoast Realty are also here to help you formulate and execute a successful buying strategy that allows you to secure the dream you deserve at a price you can afford.
Are you wanting to jump into this very busy real estate market and buy your first home in Surrey BC or perhaps a condo in White Rock, or a family hobby farm out in Langley BC?
We’ll explain the current real estate market in terms that make sense for you. Call Natasha Taylor of Sutton WestCoast Realty at 1-778-316-4290 or fill out our quick contact form so we can be in touch with you.
View the official November 2015 Fraser Valley Real Estate Market new release here.