Our overall market is operating below the record-setting pace from a year ago and is in line with historical spring levels. It’s a different story in our condominium and townhome markets. Demand has been increasing for months and supply is not keeping pace. This dynamic is causing prices to increase and making multiple offer scenarios the norm.
Until more entry level, or ‘missing middle’, homes are available for sale in our market, we’ll likely continue to see prices increase. There’s been record building this past year, but much of that inventory isn’t ready to hit the market. Home buyers are looking to get into the market and they’re facing fierce competition. It’s important to work with your local Realtor to help you navigate today’s marketplace.
For more in-depth information on April's market, please click below:
Greater Vancouver: REBGV April 2017 Stats Package
Fraser Valley: FVREB April 2017 Stats Package