Here is the latest quick video update from the Fraser Valley Real Estate Board discussing residential real estate market conditions as of April 2023.

Highlites for the month include the following points:

• Inventory of homes for sale remains relatively limited
• Sales were steady month over month, from March to April
• Prices are firming up due to limited supply and multiple offer situations are reemerging in some cases
• There were 2,478 new listings in April. This was down 32% compared to April 2022.
• Active listings were down 14% in the month, compared to April 2022. This was the lowest level of active listings in 20 years!
• We are firmly in a seller's market with the sales to active listing ratio at 34%

If you are need of more specific expert advice on buying or selling a house, townhome or condo in the Fraser Valley, please contact me today. I would be happy to provide specific advice or information suited to your needs in today's marketplace.

Below is a snapshot of home prices in the Fraser Valley residential real estate market for May 2023. This table includes prices for detached houses, townhouses and condos in North Delta, Surrey, Cloverdale, South Surrey, White Rock, Langley, Abbotsford and Mission.

Please contact me if you are looking for more neighbourhood level or property type specific information. I would be happy to help you.