March 2023 Fraser Valley Real Estate Market Insights
Welcome to the March 2023 episode of the Fraser Valley Presale Pulse, a real estate show brought to you by hosts Ryan Lalonde and Brittany Reimer. Watch the video to understand the latest macroeconomics, pre-sale, 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 Pre-Sale Pulse:
On the run? Don't miss a beat. Listen to this episode
Lucent's Early Success Sparks Interest in Surrey Real Estate Market
Lucent program is over 40% sold with 160+ deals and offers discounts to realtors who buy units for themselves. Investors are showing renewed interest in Surrey's real estate market as the rental market tightens, and Lucent's completion date is set for Spring 2027. More developers are expected to bring new products to the market, with Sequoia launching in May and The Core launching later this Spring.
Fraser Valley's Resale Market Shows Signs of Price Stability Amidst Low Inventory
The resale market in Fraser Valley saw a modest 0.5% gain in prices in February, following 10 months of consecutive declines. The Lack of supply is contributing to the price stability, with new listings down 48% from last year. While it's too early to declare a market bottom, renewed confidence from interest rate stability and positive market sentiment may continue to support market activity in the upcoming Spring season. However, inflation control remains a potential risk factor for the market's future.
Pre-Sale Projects Covered in this Episode
- Jacob by Redekope Faye
- Walker House by BMG Real Estate
Links mentioned in this episode:
- March 2023 Pre-Sale Pulse Report
- MLA Advisory Services and Sample Reports
- Contact Advisory
- 2023 MLA Intel Report
- This Year in Real Estate Panel Event
Subscribe to the MLA Canada YouTube Channel or find the Pre-Sale Pulse on your favourite audio streaming platform: Apple, Spotify, Amazon Music, iHeart Radio
