February Fraser Valley Real Estate Market Data and Insights
Learn more about the latest Fraser Valley pre-sale and resale data and some trends we're seeing in the area affecting the local real estate market by watching the latest Fraser Valley edition of MLA Canada's Pre-sale Pulse.
Brittany Reimer, Managing Director for MLA Canada in the Fraser Valley, highlights the increase in overall sales we are seeing since this time last year. “The big story is we are 108% higher than where we were last year in February 2020. Let’s not forget that COVID didn’t exist here last year in British Columbia,” Brittany states.
Overall, February proved to be lively market. “We saw such a busy February this year, and I see no signs of this slowing. I think we are going to roll right through Spring,” to which Brittany then speculates, “At what point is there going to be a little bit of buyer fatigue? It will be really interesting to watch this in March.”
“With the amount of activity that we are seeing, a lot of our development partners and a lot of other developers in the industry are looking to jump on board to capitalize on this busy Spring market,” said Brittany.
Ryan, President of MLA Canada, adds to Brittany’s nod to the increased activity of developers in the market:
“The developers do such a fantastic job of really understanding the end user and building around them. I think that’s something we have learned as we have had the privilege of working together. The expectation is that as long as the best developers in the Fraser Valley continue to understand the consumer needs, I think there’s a lot of runway. So much of this market is tailored towards that end user who is really looking for a family home, a place to raise children, or a place to retire to. A wide range of amenities are going to support these lifestyles as they continue to emerge over the next five years.”
For the latest real estate market data on Greater Vancouver, watch the latest video featuring Ryan Lalonde and Suzana Goncalves.