A Flood of new listings for langley real estate
“With current strong sales and low inventory, it will take quite some time for BC to get back to a healthy market.” – BC Real Estate Association
a more comfortable experience for both buyers and sellers in langley real estate
I’m hoping this gives Buyers less pressure and more choice and gives sellers the ability to buy and sell without the fear of the market taking off in the interim. From a boots-on-the-ground perspective, we have represented buyers on multiple transactions in the last few weeks and had a mix of being blown out of the water to overpaying buyers and finding homes that were hoping for multiples and only getting one offer. The aggressive buyers are still in the market but they seem to be spreading out now that we have standing inventory and threats of interest rate hikes.
This month we are going to be keeping a special eye on presale properties because generally when the market shifts this is where we see the effect first. In previous years the presale market lagged the resale market but lately, the presale market has been breaking price records in all cities. I predict we’ll see new projects launching with more conservative pricing.