🍂 Selling in Today’s Market: What It Means If You Bought During the COVID Surge
During the pandemic years of 2020–2021, the Canadian housing market saw one of the fastest price surges in history. The Bank of Canada dropped interest rates to 0.25%, and many people rushed to buy, believing rates would stay low “for a long time.” In British Columbia—including here in the Creston Valley—this led to record-breaking sales, bidding wars, and inflated property values.
Fast forward to today: we’re no longer in that frenzied seller’s market. Interest rates have climbed, inventory has increased, and buyers are more cautious and selective. So, what does this mean if you purchased during the COVID peak and are now thinking about selling?
📉 Prices Then vs. Now
- COVID Surge (2020–2021): Home values rose 20–40% in some markets. Many buyers stretched their budgets to compete in bidding wars.
- Correction (2022–2023): As interest rates rose, prices adjusted. Some regions saw declines of 10–20%.
- Today (2025):
- In B.C., the average home price is down about 1.8% year-over-year at ~$942,700.
- Canada-wide, prices are expected to decline another ~2% in 2025 and remain flat through 2026.
- The Creston Valley remains relatively stable compared to Vancouver or Toronto, but it is still operating firmly in a buyer’s market.
⚠️ Challenges for Sellers Who Bought at Peak
If you bought during the surge and want to sell now, here’s the reality:
- Buyer’s Market: Inventory is high, Days on Market are long, and buyers have the upper hand.
- Competition: Your property is being compared against many similar homes, so pricing and presentation matter more than ever.
- Values: Depending on when you bought, your home may not have appreciated much—or at all—since purchase. In some cases, you may be facing the possibility of selling for less than you paid if you bought at the very top.
- Affordability Pressures: With today’s interest rates, buyers are more payment-conscious and focused on value.
🌟 Why Listing Still Makes Sense
Even with these challenges, selling in today’s market can still be the right decision—especially in the Creston Valley:
- Stable Regional Market: While big-city markets saw sharp drops, our Valley remains resilient and continues to attract relocators from Alberta, Vancouver, and the U.S.
- Lifestyle Appeal: The Creston Valley offers sunshine, agriculture, and affordability compared to other B.C. regions—factors that continue to drive interest.
- Serious Buyers Remain: Though fewer, today’s buyers are motivated and ready to purchase before winter.
📈 Positioning Your Home for Success
If you’re selling now, here’s how to stand out:
- Strategic Pricing – Be realistic. Overpricing in a buyer’s market means longer days on market and fewer showings.
- Strong Presentation – Staging, photography, and marketing should highlight your property’s lifestyle benefits.
- Highlight Opportunities – Acreage potential, home offices, energy efficiency, and live/work features are major draws.
- Work with a Local Expert – Markets like Creston Valley are unique, and working with someone who knows the buyers and lifestyle here is key.
🍂 Final Thoughts
If you purchased at the height of the COVID surge, selling now may not deliver the rapid appreciation many hoped for. But with thoughtful strategy, realistic expectations, and strong marketing, it’s still very possible to achieve a successful sale. The Creston Valley continues to shine as one of B.C.’s most appealing regions—and fall is a wonderful time to showcase it.
If you’re considering making a move, let’s talk about how to position your property in today’s market.
Diana Klejne Personal Real Estate Corporation
🏠 Stonehaus Realty Corp
📱 604-789-8202
📧 DianaKlejne@Gmail.com
