Dear Clients, Neighbours, Friends, Family and Colleagues,
Well, as we had anticipated things have started to quiet over the last couple weeks. The Fraser Valley spring market produced high levels of sales activity but seems to be shorter than usual and for the most part did not result in any strong upward push on home pricing.
The Fraser Valley Home Pricing Index Average over the last 6 months has been modest - Detached homes saw an increase of 3.6% and Townhomes 3.9% .
The British Columbia Real Estate Association has forecast for the Fraser Valley a 2.9% increase in sales and a 4.6% increase in home pricing for 2010 - compared to 2009. The same report predicts, moving into 2011 - a 3% increase in sales and a 1.3% increase in home pricing – compared to 2010.
So you can see all our research, reading and updates so far seem to be in line regarding this very flat 2010 - 2011/2012 Real Estate Market. The leveling off points to balanced market conditions during this time with higher levels of inventory for Buyers to choose from. For Sellers, getting very specific advise as to your areas values and market forces will be crucial to remaining competitive within your local neighbourhood.
So we hope you have a wonderful summer and we look forward to seeing you all out and about in both our community and yours!
Don’t forget to visit our Facebook Page to keep current with the local Real Estate Market and become a fan –
Jenn & Colin