Enter to Win a Staples Gift Card!

Back to school is right around the corner and we want to give you the chance to stock up at Staples. From August 1-August 31, if you refer a friend or family member to us by phone or email we will automatically enter you to win a $100 Staples Gift Card!

To refer someone to us, contact us at:

604-720-5353 or by email info@alyoung.ca

The referral of the people you care about is so appreciated. Thank you. Good luck in teh draw! 

 

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Market Update: July 2018

Summer is officially in full swing! With the shift towards people being on vacation, the ‘summer slowdown’ and changes in routine the real estate market tends to drop off slightly too. This month’s stats have shown that with most markets across the Fraser Valley transitioning into a “Balanced Market”.

Inventory

*stats taken from the Fraser Valley SnapStats report

In addition to the above stats, a few other things to keep in mind include the year over year comparison.

Total listings were up from last with 5,490 homes on the market compared to 4,087 in 2017. However, the total sales were down with July 2018 coming in at 1,152 and July 2017 at 1,174. One interesting note (and good news for sellers) was the prices continue to be up from last year. The average home price was up 8% year over year, giving sellers a boost within the market.

If you have questions or would just like to get together and find out the stats for your area, please give me an email–it would be my pleasure to meet with you!

 

Market Update-June

There is a variety of different markets within the Fraser Valley this month. Certain areas like Surrey, White Rock and Delta are classified as a ‘buyers market’ or like North Delta, a ‘balanced market’. Langley, Abbotsford, Mission and Cloverdale still remain a ‘seller’s market’.

Statistically, the stats for this month are:

  1. Total Listings: 5,244 listings
  2. Total Sales: 1,283 Total Sales
  3. Sales Price: 6% variance year over year average sale price

We are in a Seller’s market with a market speed indicator of 24%. The market has seen a rise in borrowing costs which will weigh on the activity and prices, coupled with low unemployment, rising wages and healthy population growth the housing market should improve. Inventory

 

Interested in learning more about the stats in your area? Send me an email and I would be happy to send them your way; info@alyoung.ca

Market Update-May 2018

This month’s real estate stats are in! May was a busy month in Real Estate; with a 33% Homes Selling Rate the Fraser Valley Real Estate Market is still a seller’s market.

However the numbers are down slightly from last month:

  • 4859 Active Listings were listed in May
  • 1591 Sales this month
  • 10% increase overall in Sale Price for Homes

These numbers have fallen slightly due to the mortgage qualificatins hindering buyers capability to increase their buying power. Over the next several months, the impact of these qualifications is expected to soften due to people re-evaluating their budgets and finances to better accomadate these new mortgage regulations.

This article from Re/Max contains a few pieces of great advice on how to better afford a home and set yourself up for financial success!

Here are the breakdown of statistics for the Fraser Valley:

Real_Estate_Fraser_Valley

Give me a call if you would like to chat about the statistics in your area and how we can help get you more!

Market Update: April 2018

 

April was an interesting month in Real Estate! As the CMHC Chief Economist pointed out:

“The local economy has been very strong with jobs attracting people and increasing demand but without the supply, that demand goes into house price increases.” -CMHC Chief Economist

The increase in demand without the necessary supply leads to an increase in home prices. With that in mind, let’s look at this month’s stats!

The market remained as a Seller’s Market for the Fraser Valley. Total listings came in at 4014 an increase from last year which was 3169.

Total sales this month totaled 1512, a drop from last year’s record of 1989.

However, due to the increase in demand but a decrease in supply the sale price reached 20% above last year’s. The median sale price was at $751,000. An increase from last month’s $719,000.

Inventory

Interested in seeing more detailed statistics about your area? Send me an email or call me and I will get you a copy delivered right to your inbox.

 

Market Update: March 2018

Real Estate_Stats

A quick snapshot of the Fraser Valley’s real estate market today covering the following areas: Surrey, South Surrey, North Delta, Cloverdale, Langley, Abbotsford, and Mission. All single family home, townhome and condo data sourced from the FVREB MLS®.

Fraser_Valley_Real_Estate

The Fraser Valley Real Estate Market is continuing to surge forward with no drop in sight. Springtime typically spurs along the market and gives sales a boost, making this an ideal time to place your home on the market.

This March the market speed indicator sits at 46% making the Fraser Valley a Sellers Market.

Total sales at the end of March totaled: 1488, up from last months total of 1237.

The median sales price of homes across the Fraser Valley came in at $719,000, dropping just 1% from last months high of $723,000.

There were a total of 3212 listings, a rise of 13% from February’s 2836.

Are you interested in listing your home or perhaps want to see the stats in your area? Get in touch with us today! 

 

Market Update: February 2018

 

With the announcement of the 2018 BC Budget, the NDP is working to ‘moderate the market’. Some of the changes outlined in the budget relating to housing include:

1. Moving to stop tax evasion in pre-sale condo reassignments.
2. taking action to end hidden ownership.
3. strengthen provincial auditing and enforcement powers.

With that in mind, the market over the next few months will be in the perfect position to place a home on the market.  Below is a quick overview of the market by area in the Fraser Valley:

Inventory

If you are interested in finding out the snapstats for you area, get in touch with me, I would be happy to send them to you!