November Monthly Market Update from my listing 17430 0A Ave
Posted on Nov 11, 2024 in
I filmed this month's monthly market update from my listing 17430 0A Ave, which has a new, improved price. This stunning 7-bedroom, 6-bathroom masterpiece is a blend of elegance and functionality designed for modern living. Watch the video to see this gorgeous home. Here's what you need to know in this month's market update:
I recently had the opportunity to listen to Benjamin Tal, Deputy Chief Economist at CIBC, and the message was clear: The worst of the real estate market slowdown is behind us. While the next six months may still present some challenges, there's a bright future ahead. The market will start gaining momentum by spring, with growth expected to continue into 2026 🚀.
Now is truly an ideal time to buy or sell your home. With increased competition likely on the horizon, waiting could mean a tougher market as prices and demand rise. If you're considering a move, acting sooner rather than later may put you in a stronger position.
Last month, the Bank of Canada cut an unprecedented interest rate, sparking conversations across the market. This cut is expected to fuel further buyer interest due to the lower cost of borrowing. Here in the Fraser Valley, we've already seen an uptick in home sales for the first time in five months as a response to October's rate cut. Buyers who've been on the sidelines are beginning to take action, recognizing the value in securing a home now before rates and prices shift.
Condo Market Forecast for 2024
The condo market is seeing unique conditions. Investors are holding back, and builders are slowing down projects. However, this creates a prime opportunity for buyers in 2024, as prices are expected to rise again by 2026. Next year could be your best window for a condo purchase. The recent surge in activity is promising for those eyeing the South Surrey area, providing a secure investment opportunity.
As an experienced Realtor, I aim to guide you through these shifting times. Real estate decisions can be complex, and I'm here to help simplify the process, offering clarity and strategic advice so you can confidently make informed choices. Whether you're buying, selling, or simply exploring, trust that I'm here to support your journey every step of the way. Why not give me a call? Let's chat! Warm Regards,Amanda