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MONTHLY MARKET UPDATE — APRIL 2023 UPDATE
there has been an increase in the number of sales over the previous month, we’re not expecting a return to record setting activity levels.. Our inventory levels continue to be very low and new properties are slow to come onto market. More inventory is needed to balance the supply against spring demand. The good news is that prices have stabilized for now. If listings do not pick up over this season, there is a risk that the prices will rise. Sellers are not putting their homes onto the market until they can secure a new home that is suitable to
their needs. If stabilization of the listing inventory is not achieved, we could once again see prices increase. We are starting to see multiple offers once again appear in our market, The circumstances for multiple offers are dependent on a number of factors including price, competition, area, condition of home, and of course the amount of homes available for sale.. Overall, consumer confidence in the market has returned. Accurately priced homes
2481 BEACON AVENUE SIDNEY BC V8L1X9 | 1-877-656-0911 REACHUS@HOLMESREALTY.COM | WWW.HOLMESREALTY.COM When you buy or sell a home with Holmes Realty, a portion of the commission goes in support of local charities. Over $250,000 raised!