January 2024 Fraser Valley Real Estate Market Update

🏡 Real Estate Market Update: January 2024 Surge! | Surrey, Cloverdale, Langley Insights 🚀
Welcome to our latest video where we dive deep into the January 2024 real estate market boom! After a quiet second half of 2023, the market has made a remarkable comeback. Stay with us as we break down what this means for buyers, sellers, and market watchers in Surrey, Cloverdale, and Langley. Don't forget to smash that like button and subscribe for the most up-to-date real estate insights!
January 2024 Highlights:
Sales Skyrocket: A 12% increase from December, with 938 transactions signaling a market revival.
Listings Leap: An unprecedented 151% jump to 2,368 new listings, the highest month-over-month increase in five years.
Price Progress: Single-family homes hit a benchmark price of $1,466,100, up 8.6%. Townhomes and condos also saw significant price increases.
Market Dynamics:
Balanced Market: With a steady sales-to-active listings ratio of 19%, the market is in a healthy state.
Property Types: Detached homes maintain balance, while townhomes and condos indicate a competitive seller's market.
Selling Speed: Properties are moving fast, with townhomes being particularly popular.
Interest Rate Expectations: Anticipation builds for the Bank of Canada's policy announcement on March 6, with potential rate decreases on the horizon.
Stay Informed:
We're here to keep you informed about the latest real estate trends and opportunities. Whether you're buying your first home, selling to upgrade, or looking to invest, understanding the market is key.
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📝 Comments:
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🏡 If you are looking to purchase or sell a home, we would be honored to help you find your place.
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[@Divyv520]

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