Doesn’t it seem like a very long time since we unwrapped Christmas gifts and welcomed in 2025? Time really does fly – and our real estate market shifts on a dime.
What’s new and exciting? If you’re a buyer, it’s the increase of homes on the market.
In every single market, from Burnaby east to Maple Ridge, in both attached and detached categories, the inventory increased in January.
Along with the inventory increase came an increase in sales, spurred on by a more favourable interest rate. Condos and townhomes still led the way, especially in family-friendly Port Coquitlam – with a 45% sales ratio. Builders are now paying attention to the fact that, with the large increases in prices of detached homes, “family” buyers (as well as singles & couples) are happy to buy an attached home – in particular, the newer variety with the latest in kitchens and amenity space.
Price plays its part when we see that in January the attached market in Burnaby experienced a 15% sales ratio – a real drop in January. Maple Ridge was the January winner in the detached market, though still with only a 15% sales ratio.
So…. we are feeling a subtle shift and trusting that Spring (hopefully just around the corner) will do its usual magic as the daffodils bloom! Snow and icy conditions do not help the real estate market!
If you want to relate these statistics to your home – both now and in the future – we would be delighted to update you on the value of your home (as always, location is a big factor). We’re also happy to advise you regarding how to showcase your home to its best advantage. We’re here fo you – living and working locally, supporting our local businesses and shopping close to home.
Wishing you prosperity in the Year of the Snake, we remain your partners in real estate: Michelle Hawthorne, Scott Johnson, Shane Goutsis, Ray Harris & Ambassador Sheila.
P.S. – Happy Family Day!