Surrey, Cloverdale, and Langley Housing Market Update - June 25, 2023

This week in real estate has been similar to the past few weeks. New listings are continuing to enter the market at a steady pace although this week did seem a little lighter than the previous weeks. The same thing goes for sales.

Where we are seeing a change is in the listing strategy for sellers. For the past few months, a new listing would enter the market at an attractive price and do showings on a weekday, open house on Saturday or Sunday and then have an offer deadline on Monday or Tuesday and more often than not, it would sell in multiple offers.

Now we are seeing new listings enter the market at a price that’s closer to its market value and take offers as they come. We aren’t seeing offer deadlines as much. That’s due to the inventory rising the past few weeks and due to buyer fatigue as well. As we have seen before, buyers eventually get tired of competing and just stop competing which has caused sellers to adopt a new listing strategy.

If you want to know what’s happening in your neighborhood, please give us a call or send us a DM and we’d be happy to help.

PJ @ 604-725-1258 | Razaik @ 604-537-8447