Fraser Valley Real Estate, Market Summary - January 2023
January 2023
Key Statistics & Summary Link
AVERAGE HOME PRICE INDEX: $942,200
MEDIAN DAYS ON MARKET: 33
SALES-TO-ACTIVE RATIO: 16% (BALANCED MARKET)
“Buyers are understandably cautious, which explains the slow start to the year...That said, the pent-up demand that has been building since the last quarter of 2022 will likely give rise to a sales uptick, especially if rate hikes subside, which we expect will be the case.”