MARKET UPDATE - Real Estate Market Update for Fort St John - March 2021
The Fort St. John Real Estate Market in 2021 is definitely going to be super busy for single-family detached houses.
You can definitely count on that!
59% more sales in February 2021 than the same month last year.
29% less active listings than February 2020.
So, pretty much the same report as last month everybody where I reported that we had more sales and less active listings than the same time frame a year ago.
So when you see more sales and less inventory, it's all just basic economics folks!
The end result is increased demand and also increased prices.
I'm seeing sellers negotiating a little bit less off the list price.
So if you're thinking that you're going to negotiate a whole lot of money like you could during COVID last year or previous years, think again!
There are multiple offers on select properties and properties are selling quicker than a year ago.
Cheap money is a huge catalyst these days, but I'm also seeing lots more people moving into town for work.
The other trend that I'm seeing is people are upgrading their homes instead of selling to leave.
Lots of people are working from home, kids are studying from home...everyone is home!
People are saying "We need a bigger home!"
I've been working with quite a few clients that are selling to upgrade whereas in previous years we were selling to move out of town.
One last note is that most of the people that were affected by layoffs or job losses are not your typical home buyer.
I was telling buyers the same thing last June. The market has been quite resilient since June of last year when we opened up again, and it continues to be quite strong.
So that's your February 2021 Real Estate Market Update for Fort St. John.
See you next month!
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