REAL(Estate) Talk | May 2021 Market Update

Elevation Real Estate Group
June 10, 2021 \ news

May Market Numbers Are In! -- Is that a light a light at the end of the tunnel?

With BC's Restart Plan underway and over 70% of the population having received at least one dose of a COVID-19 vaccine, it looks like a return to "normal" is on the horizon.  On the real estate front, we are seeing an increase in supply (options available for buyers to choose from), and fatigue setting in after months of frenzied market.  With options for travel and entertainment opening up, we expect the typical summer slowdown to commence, as consumer focus shifts.  Tune in below for an update on the current market statistics and the trends we're seeing at the ground level today.


Here are the Fraser Valley Market Statistics for May 2021

"We're seeing resistance to multiple offers and buyers adjusting their offers, or even waiting, because they have more selection. We're a long way from a balanced market, but supply is helping us to head in the right direction" ~Larry Anderson, FVREB President





As always, a personalized interpretation of the market and how your plans and goals may be impacted is always a call away!


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