The Fraser Valley Real Estate Board has released it's monthly market video update for February 2023. This is a quick overview of the market conditions, overall, across the region.
Key takeaways are:
- sales rose month over month, for the first time in a long time
- prices ticked up in February compared to January. Again, it's been a while since that's happened
- the sales to active listings ratio at 20% indicates an overall balanced market, with townhomes and apartments being in sellers markets for the month
Stability was the key word mentioned in this video. There may be early signs of stabilization in the residential real estate market here, if interest rates and mortgage rates stay releatively steady in the months ahead.
The spring market will reveal the health of the market and possibly provide clearer indications of market trends moving forward.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.