June 14, 2024 Fraser Valley June 2024 Presale Pulse


June 2024 Fraser Valley Real Estate Market Insights

Welcome to the June 2024 Fraser Valley Presale Pulse episode, a real estate show brought to you by hosts Suzana Goncalves and Brittany Reimer. Watch the video to understand the latest macroeconomics, presale, and resale trends over the last 30 days affecting the local real estate market across the Fraser Valley. In this month's episode of the Presale Pulse: 

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Fraser Valley Presale Market Sees Mixed Signals in May 

The Fraser Valley's presale market saw a mix of activity in May, reflecting both challenges and opportunities. Despite fewer project launches compared to the previous month, eight new developments entered the market, signalling ongoing interest from developers despite prevailing market conditions. One notable launch was Parksville 96 by Darshan Builders, a concrete project that faced initial hurdles in achieving presale targets amidst stiff competition in Surrey. Overall, the Fraser Valley's presale sector demonstrated resilience, with developers adapting strategies to attract buyers through incentives and competitive pricing.

Subdued Demand Meets Rising Listings in Resale 

In May, the resale market in the Fraser Valley experienced subdued demand, reflecting broader trends in the region. Sales remained below historical levels, with a simultaneous increase in active listings, indicating a growing supply of available properties. Despite this shift towards a more balanced market, prices remained relatively stable, showing modest increases month-over-month and year-over-year. Sellers demonstrated patience, refraining from panic selling and recognizing the potential for demand to rebound in the future. However, market observers noted a trend of developers inflating sales messaging or adjusting phasing strategies to navigate challenges. 

Presale Projects Covered in this Episode

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