March 15, 2023 Fraser Valley March 2023 Pre-Sale Pulse

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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: 

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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

Links mentioned in this episode:

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Market Insights
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