A sellers market prevails for the month of March in the Fraser Valley!
Fraser Valley real eastate hit a historical high in March, setting the record for sales processed in one month. In March 2015 there was an increase of 26% more sales processed than in February 2015.
The total active inventory for March was 5,485, down 33% from last year's 8,193 active listings. The MLS HPI benchmark price of a Fraser Valley single family detached home in February was $741,000, an increase of 26% compared to March 2015 when it was $588,500.
In March, the benchmark price of towhouses was $344,300, an increase of 14.9% compared to $299,700 in March 2015. The benchmark price of apartments also increased year over year by 13.8%, going from $190,800 in March 2015 to $217,200 in March 2016.
If you are thinking of selling your home, now is a great time! The market is in your favour!