May 2021 Market Update | Rise in Inventory| Surrey, Cloverdale, Langley

Hi everyone, Razaik here with the real estate market update for May 2021 for Surrey, Cloverdale, Langley & the rest of Fraser Valley. It feels like in every video I've been saying, wow, record breaking month, crazy market. It just goes to show that the real estate market has just taken off in 2021. In April, we were starting to see a slow shift and in May, we saw that take into full effect where the market is slowing down due to an incredible rise in inventory. Buyers now have the option to look at more homes, which is resulting in less, multiple offers, less bidding and more choice for the buyer. 

Now, how does this affect you? 

If you're a seller, you need to put your home for sale in the market ASAP because competition is rising. 

If you're a buyer you need to get into the real estate market and take advantage of the low interest rates. You have the ability to shop around and choose what suits you and your family. 

Whether you're a buyer or a seller in Surrey, Cloverdale or Langley, give us a call and let's plan your next move!