Creston Real Estate Market Update: April 2025
The latest data is in for April 2025, and it tells a compelling story about where the Creston Valley real estate market is heading. As we shift into late spring, buyers are gaining more options, sellers are needing to sharpen their strategies, and the broader political landscape is already starting to influence market sentiment.
Market Snapshot
Here’s what we saw across Creston and surrounding areas in April:
- New Listings: 66 (up 26.9% from April 2024)
- Sold Listings: 21 (up 31.25%)
- Average Sale Price: $418,976 (down 8.3%)
- Average Days on Market: 125 (up 18.9%)
- Total Inventory: 218 active listings
- Months of Inventory: 12.4 months (indicates a shift toward a buyer’s market)
What Is a Buyer’s Market?
When we talk about a “buyer’s market,” we’re referring to a real estate environment where inventory is high, and demand is moderate or declining. In Creston, with 12.4 months of inventory available, that means if no new listings came on the market, it would take over a year to sell everything currently listed at the current pace of sales.
In this kind of market:
- Buyers have more choices
- Sellers face more competition
- Homes tend to take longer to sell
- Price reductions and negotiation are more common
Why Pricing Matters More Than Ever
In a shifting market, pricing isn’t just important – it’s critical. With average sale prices down 8.3% year-over-year and homes sitting on the market for an average of 125 days, sellers who cling to last year’s valuations risk being overlooked entirely.
Buyers are savvy. They’re comparing listings, tracking reductions, and waiting for value. That’s why it’s essential to price your home based on current market conditions, not past expectations. An overpriced home today could become a stale listing tomorrow.
How the Federal Election Is Shaping Sentiment
With the Liberal Party under Mark Carney recently forming a minority government, housing is once again front and center in national policy. Their housing strategy includes:
- Build Canada Homes: A federal push to double new housing starts
- GST removal on new builds under $1M for first-time buyers
- Massive investments in prefab and modular construction
While these policies are designed to increase affordability and inventory, they also signal a long-term plan to cool demand-driven price spikes. For sellers, that means the time to act is now – before new housing stock enters the market and potentially adds even more competition.
What Sellers Should Do Now
If you’re thinking of selling this year:
- Get an accurate Comparative Market Analysis (CMA)
- Listen to your Agent’s pricing suggestion
- Focus on strong presentation and marketing
- Be open to negotiation – buyers have leverage in this market
- Understand that pricing correctly from day one is your strongest strategy
Final Thoughts
The Creston market is not in decline – it’s adjusting. As inventory grows and prices normalize, we’re seeing a healthier, more balanced environment that gives buyers time to think and sellers a chance to get strategic.
Whether you’re buying, selling, or just curious about your home’s value, now is the time to get informed and take action.
Have questions? I’m here to help.
📞 Call: 604-789-8202
📧 Email: [email protected]
