Blog

Love our Springtime 🌱 💚 Spring symbolizes a sense of renewal and fresh beginnings. Buyers often associate spring with the idea of starting anew, whether it’s purchasing their first home, upgrading to accommodate a growing family, or relocating for career opportunities. This emotional connection can translate into heightened enthusiasm and motivation among buyers, resulting in a more active and competitive market.

Below are top 5 reasons for why listing your home for sale in the Spring is a smart option:

1. INCREASED BUYER ACTIVITY: With the arrival of warmer weather and longer daylight hours, spring typically sees a surge in buyer activity. Potential buyers are more willing to venture out to view properties, attend open houses, and make purchasing decisions, leading to a larger pool of interested parties and potentially quicker sales.
2. CURB APPEAL: Springtime often showcases properties at their best, with blooming flowers, lush greenery, and vibrant landscapes enhancing curb appeal. The visual appeal of a well-maintained exterior can attract more buyers and create a positive first impression, increasing the likelihood of receiving competitive offers.
3. FAVOURABLE MARKET CONDITIONS: Historically, the spring season tends to coincide with a more robust real estate market. However, depending on inventory levels and consumer demand this could determine the competitive environment which could drive up prices and result in favourable terms for sellers or provide more inventory and purchasing options for the buyer. 
4. GOOD TIMING FOR FAMILIES: Spring is an ideal time for families to search for new homes, as it aligns with the end of the school year. Families looking to relocate often prefer to finalize their housing arrangements during spring and early summer to facilitate a smooth transition before the next academic term begins. Listing your house during this time can appeal to this demographic and increase your chances of attracting motivated buyers.
5. LONGER DAYS AND BETTER LIGHTING: The longer daylight hours in spring provide more opportunities for showcasing your property in optimal lighting conditions. Bright, natural light can make your home feel more inviting and spacious, highlighting its best features and creating a warm and welcoming atmosphere for potential buyers. This enhanced presentation can help your property stand out in a competitive market and make a lasting impression on prospective buyers.

Accredited in the TOP1% of the Fraser Valley Real Estate Board, the DuMoulin-Miller Group know a lot about selling homes and we would love to work with you. Give us a call and let us help you plan. Let’s work together to sell your home. 

Professional Real Estate Advisors
THE DuMOULIN-MILLER GROUP⁠
It’s what we do.⁠
⭐️⭐️⭐️⭐️⭐️⁠

FVREB News Release April 3, 2024

SURREY, BC – Home buyers in the Fraser Valley have more choice heading into the spring market with inventory levels for March at the highest they’ve been in the past five years.

However, March sales were slower than anticipated with 1,395 transactions recorded on the Fraser Valley Real Estate Board’s Multiple Listings Service® (MLS®), a 13 per cent increase over February, but still 31 per cent below the 10-year average. Sales were the second lowest recorded for a March in a decade. Active listings were 6,197, up by 11 per cent over last month and by 37 per cent over March 2023.

“With inventory building, buyers now have more opportunities in both the detached and attached markets compared to one year ago,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “However, despite increased options, some buyers may still be waiting on the sidelines for the financing landscape to further settle before they feel comfortable getting back into the market.”

New listings increased 7 per cent in March, to 2,986 but remain 12 per cent below the 10-year average. With a sales-to-active listings ratio of 23 per cent, overall market conditions remain in seller’s market territory. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

“Despite slower than anticipated sales in March, sellers who draw on the knowledge and expertise of a professional REALTOR® to help price their property appropriately, are, in some cases, getting multiple offers and are seeing their property move quickly,” said FVREB CEO Baldev Gill. “That’s why we always encourage buyers and sellers to work with their local REALTOR® who understands the changing market conditions and can protect their interests.”

The average number of days homes are spending on the market continues to decline, with single-family detached homes spending 27 days on the market, down from 35 days in February, apartments spending 26 days on the market, down from 29 days in February and townhomes moving more quickly at 20 days, down from 28 days on the market in February.

Overall Benchmark prices edged up again in March, by 1.4 per cent from February and up 4.6 per cent over March 2023.

MLS® HPI Benchmark Price Activity

• Single Family Detached: : At $1,517,100, the Benchmark price for an FVREB single-family detached home increased 2.1 per cent compared to February 2024 and increased 8.8 per cent compared to March 2023.
• Townhomes: : At $846,900, the Benchmark price for an FVREB townhome increased 1.9 per cent compared to February 2024 and increased 7.2 per cent compared to March 2023.
• Apartments: At $555,000, the Benchmark price for an FVREB apartment/condo increased 1.6 per cent compared to February 2024 and increased 6.9 per cent compared to March 2023.

Source: Fraser Valley Real Estate

SURREY, BC – Home sales in the Fraser Valley posted a second consecutive bump in February as new listings continue to rise and trend slightly above the 10-year seasonal average.

Thinking about listing? Download our COMPLIMENTARY 30 day plan to preparing your house for sale.

The latest REAL ESTATE SNAP STATS report for Fraser Valley and Metro Vancouver includes real estate activity within our own community of South Surrey/White Rock. Please email us to request the latest copy of this report or subscribe to our mailing list to receive it monthly in your inbox.

Fraser Valley Real Estate Board News Release: 2 February 2024

SURREY, BC – The Fraser Valley real estate market showed signs of recovery in January as home sales rose after six consecutive months of decline, and new listings more than doubled.

The Fraser Valley Real Estate Board recorded 938 transactions on its Multiple Listing Service® (MLS®) in January, a 12 per cent increase over December and below the 10-year average for sales in the region.

At 2,368, new listings increased 151 per cent in January, rebounding strongly from the seasonal lull seen in December. This is the largest month-over-month percentage increase in new listings in five years.

“With January sales on the rise, we are seeing hopeful signs that optimism is returning to the market,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board.  “Anticipating that we may be at the end of the Bank of Canada rate hike cycle, it appears that more buyers are considering re-entering the market as we are starting to see more traffic at open houses.”

Active listings in January were 4,877, up by 4 per cent over last month and up by 18 per cent over January 2023. The sales-to-active listings ratio was 19 per cent, representing balanced conditions in the overall market. Detached houses are in balanced market territory at 19 per cent, while both townhomes and apartments remain in seller’s market territory at 34 and 27 per cent respectively. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

“Current balanced market conditions present opportunities for both buyers and sellers,” said FVREB CEO, Baldev Gill. “In today’s market, buyers and sellers have time to get preapprovals, put together offers and take the time needed to work through the purchase or sale of a home with the help of a knowledgeable and professional REALTOR®.”

The average number of days homes are spending on the market has been increasing since October, with single family detached homes spending 44 days on the market, apartments spending 41 days on the market and townhomes moving more quickly at 33 days.

Overall Benchmark prices continued to edge downward for the sixth month in a row, losing less than half a per cent from December, and down six per cent from the 12-month peak in July.

MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,466,100, the Benchmark price for an FVREB single-family detached home decreased 0.4 per cent compared to December 2023 and increased 8.6 per cent compared to January 2023.
• Townhomes: At $825,600, the Benchmark price for an FVREB townhome decreased 0.1 per cent compared to December 2023 and increased 6.9 per cent compared to January 2023.
• Apartments: At $539,700, the Benchmark price for an FVREB apartment/condo increased 0.4 per cent compared to December 2023 and increased 6.5 per cent compared to January 2023.

Fraser Valley Real Estate Board: News Release, January 4, 2024