Room for Optimism

April 2024 Update

We’ve seen a steady improvement in sales in the Powell River residential real estate market in 2024 with 32 in April, up from 16, 19 and 27 in the previous months.  New listings are on the upswing as well with 72 in April compared with 38, 30 and 67 in previous months yielding a total of 158 listings available which is a healthy supply by recent standards for us. The market has been balanced favouring neither buyers nor sellers for the past three months as well.  Falling interest rates have been promised for this year but it doesn’t appear that it’s going to happen soon so we’re still seeing quite a bit of buyer uncertainty in the market. Prices have been fluctuating a bit but the numbers for 2024’s first quarter are roughly the same as they were a year ago.  Sales are happening and there is a good selection.  With some positive news on the economic front we could see a busy market through the summer.