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Record breaking sales for February

Author: Leanne DeSouza Personal Real Estate Corp. | | Categories: Find A Home , First-Time Buyer , Real Estate Agent

The real estate market is currently experiencing the highest sales level never seen before in the last 100 years of the Fraser Valley for the 6th month in a row.

Chris Shields, President of the Fraser Valley Real Estate Board viewpoint of this month’s record numbers, “This is new territory for us. We have never seen such consistent and persistent demand for housing in the Fraser Valley. What’s fuelling the demand is the combination of record-low interest rates and the response to the pandemic. It’s not something that could have been predicted and it has created a very complex market for buyers that requires the knowledge and expertise of a professional. For family-sized homes, prices climbed 3 to 5 per cent in February alone and sold on average in three weeks. We understand the stress and frustration with the market currently and we’re here to help guide and protect home buyers.”

As a real estate professional myself, I have never seen anything like it in my 33 year career. This is definitely a good time to sell a house that typically may be difficult to sell in a balanced market.  For the down sizer who is not entering the marketplace or moving to a different province, this is also the ultimate time to be cashing in on the current market.  We have a record low inventory of listings which is creating a rush on demand. I would highly recommend giving me a call to determine if this is a good time to sell for your particular needs.