1. Neutralize the color palette: Neutral colors, such as beige, gray, and white, help create a blank canvas that appeals to a wide range of potential buyers.

2. Update fixtures and hardware: Updating light fixtures, doorknobs, faucets, and cabinet hardware can make a big impact and show that the house is well-maintained.

3. Declutter and depersonalize: Remove personal items and excess clutter from surfaces to make the space feel more spacious and neutral.

4. Enhance natural light: Clean windows and trim trees or bushes that may block natural light. Consider adding a skylight or a solar tube to brighten up a darker room.

5. Add plants: Adding plants to various rooms can bring a touch of nature and freshness to the space.

6. Address the kitchen and bathrooms: These are the two most important rooms in a home, so it's worth investing in updates, such as new countertops, cabinets, and flooring, if necessary.

7. Create a focal point: Add a statement piece to a room, such as a piece of artwork, a gallery wall, or a large mirror, to create a focal point and draw the eye.

By following these tips, you can create a space that appeals to potential buyers and makes a positive first impression.

The downward trend in Fraser Valley real estate sales continued in January as further interest rate hikes kept buyers sidelined.

With 626 transactions processed on the MLS®, sales were off by 12.6 percent compared to last month and down by 52.2 percent compared to this time last year. The last time January sales were this low was in 2013 at 617 sales.

“Buyers are understandably cautious, which explains the slow start to the year,” said Sandra Benz, President of the Fraser Valley Real Estate Board. “That said, the pent-up demand that has been building since the last quarter of 2022 will likely give rise to a sales uptick, especially if rate hikes subside, which we expect will be the case.”

Although new listings saw an increase of 128.3 percent over last month to 1,833, they are at the lowest level of new supply for January since 1984. Active listings rose slightly up 5 per cent to 4,118 over December 2022 and up by 76.6 per cent compared to this time last year.

“We also expect inventory to start increasing over the coming months as sellers act on decisions that have been on hold, waiting for rates to peak” added Benz. “As we start to see greater selection across all property categories, we should see demand pick up.”

At $942,200, the composite Benchmark home price continued to edge downward, slipping by 1.4 per cent from December and off by 15.1 per cent compared to January 2022.

“After a market slowdown for the past several months, the Board is expecting a return to seasonal activity leading into spring,” said FVREB CEO Baldev Gill. “With rates still elevated, however, buyers and sellers would be well-advised to seek out the guidance of a professional REALTOR® to determine the best strategy and timing to take advantage of the anticipated market upswing.”

Across Fraser Valley in January, the average number of days to sell a single-family detached home was 48, and a townhome was 40 days. Apartments took, on average, 41 days to sell.

MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,357,800, the Benchmark price for an FVREB single-family detached home decreased by 1.4 per cent compared to December 2022 and decreased by 17.6 per cent compared to January 2022.
• Townhomes: At $773,100, the Benchmark price for an FVREB townhome decreased 1.8 per cent compared to December 2022 and decreased 8.8 per cent compared to January 2022.
• Apartments: At $503,700, the Benchmark price for an FVREB apartment/condo decreased by 0.2 per cent compared to December 2022 and decreased by 5.9 per cent compared to January 2022.