RE/MAX Oceanview Report Jan 17-23, 2023

Real estate sales have slowed significantly. There are fewer multiple offer situations and sellers must be more patient and more flexible with price. It’s a reminder that real estate markets are dynamic and change over time. The last significant slower market on the Coast began with the so-called financial meltdown in October of 2008 and ran until late 2013. Before that, the slow periods were 1998 to 2001, 1994 to 1995, and perhaps the deepest downturn of all, from 1981 to 1986, when interest rates hit 19%. In most previous cycles, prices dropped 10% to 20% before the market began to rebound. We’re about 12% off our peak at present. No matter what the market, the need to sell can arise at any time. Home sellers always still need good representation. Advice on staging, pricing, negotiations, contract terms... a good listing agent is essential to success in any market

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.