March was an incredibly productive month for sales, and in particular for single family homes. Our Fraser Valley Real Estate Board President, Jorda Maisey chimed in to attribute the strength of our market to population growth, supportive interest rates, and consumer confidence.
Although prices are up for single family and townhomes over March of last year, the news is not so good for apartments, where prices have decreased by 2.4% over the same month in 2014. Homes are also selling quicker provided they are priced competitively, with an average time on market of 38 days for single family while townhomes and apartments are unchanged.
If you have any questions about your specific market, and what is happening there, please feel free to reach out to me anytime by phone or e.mail!
Have a great day!