Posted in: Cloverdale BC, Cloverdale Real Estate
NEW LISTING! 18461 67A AVE in Surrey.
Spectacular updated home in the desirable area in Cloverdale. A 2-storey/Bsmt has 3 bds up & 1 down, 3-1/2bths. Maintenance Free backyard has new Deck, Fencing, Gate, winterized Shed for storage, along with 2-carPrkg, Lane Access. Inside updates incl brand new high-efficiency furnace, Navien on-demand water, new vacuum system & more. FAMILY ROOM to relax in with an inviting, cosy RiverRock gas fireplace next to the KITCHEN with new “Eco” countertops, refaced cabinets, large island, stainless steel appliances. Large MasterBdrm with walk-in closet. Ensuite and Main Bthrms all New. Hardwood floors throughout. And tons more...Close to schools, amenities, and great shopping. When you view, ask your Realtor for the list of updates. A wonderful opportunity to own fabulous move in ready home.
Fraser Valley real estate market contracts and adapts in response to public health measures to mitigate COVID‐19
SURREY, BC – As anticipated, real estate activity saw a steep decline last month in response to the pandemic lockdown, resulting in one of the slowest Aprils in Fraser Valley history.
The Fraser Valley Real Estate Board (FVREB) processed a total of 688 sales on its Multiple Listing Service® (MLS®) in April, a decrease of 52 per cent compared to sales in March and a decrease of 50 per cent compared to April of last year. According to FVREB historical data, last month’s sales were on par with April sales in 1983 through to 1985; and new listings are in line with numbers last seen in April 1981.
Chris Shields, President of the Board, observes, “Even though March’s initial numbers promised a banner spring, we expected the market to respond this way in April. Both sales and listings contracted in tandem as we all moved swiftly to embrace the measures necessary to respond to this global pandemic.
Given that the volume of new listings coming on stream fell even faster than sales in April, the market remains stable.” “What has been most impressive is how the industry – both REALTORS® and our clients – have pivoted and adapted to innovations such as live streaming open houses and e‐transactions that we anticipate will become mainstream even when physical distancing is no longer a requirement. These tools not only ensure public safety; clients appreciate their speed and efficiency.”
The Fraser Valley Board received 1,416 new listings in April, a 47 per cent decrease compared to March’s intake of 2,666 new listings and a 58 per cent decrease compared to April of last year. April finished with 5,997 active listings, a decrease of 1 per cent compared to March’s inventory and a decrease of 24 per cent year‐over‐year.
Shields adds, “Although we’re seeing fewer transactions, it’s important to emphasize that Realtors are still advising and protecting their clients every day. We were deemed a non‐health essential service because there are always people who need to buy or sell a home, potentially due to the economic downturn. So, for those who need real estate guidance now, or who want to start preparing for the pending market rebound, feel free to call your Realtor to get the advice you need.”
In April, the average number of days to sell an apartment was 31; 30 for townhomes and 33 for single family detached.
MLS® HPI Benchmark Price Activity
Single Family Detached: At $993,400, the Benchmark price for a single‐family detached home in the Fraser Valley increased 0.5 per cent compared to March and, also increased 3.0 per cent compared to April 2019.
Townhomes: At $553,200, the Benchmark price for a townhome in the Fraser Valley increased 0.7 per cent compared to March and increased 1.4 per cent compared to April 2019.
Apartments: At $424,100, the Benchmark price for apartments/condos in the Fraser Valley increased 0.2 per cent compared to March and increased 0.8 per cent compared to April 2019.
NEW LISTING! 218 2960 151 ST in Surrey.
South Point Walk 2, Step inside this well designed building by Streetside/Qualico. Spacious kitchen with all Stainless Whirlpool appliances, gas range and Quartz counter tops, shaker style cabinetry and 10 foot ceilings. This home features 2 large bedrooms, and 2 full bathrooms, Master Bedroom with walk in closet full ensuite with walk in shower, second bathroom with large soaker tub. 2 side by side parking stalls. Short walk to all amenities including shopping, restaurants and services. Building includes gym, amenity room, theater and community garden!
COVID-19 has made a large finacial impact on homeowners and tenants. Here are some of the many relief and information resources available. We will update this with new information as it becomes available.
Many financial institutions are offering payment deferrals. If you are currently facing financial hardship it is worth talking with your lender to see if this is an appropriate option for you.
BC housing is providing up to $500 as a temporary rental supplement to qualifying tenants.
More info: https://www.bchousing.org/BCTRS
For more information on individual and business income support:
March sales and new listing data show preliminary impact of COVID‐19 on Fraser Valley housing market
SURREY, BC – The most up to date Multiple Listing Service® (MLS®) data from the Fraser Valley Real Estate Board (FVREB) indicates COVID-19 has put the market on pause, as REALTORS® and the public adhere to health authority rules and government guidelines on the pandemic.
By the end of March, the FVREB processed a total of 1,441 sales on its MLS®, a 7 per cent increase compared to sales in February 2020, and an 18 per cent increase compared to the 1,221 sales in March 2019. During the first seven business days of the month, property sales were tracking 60 per cent higher compared to the same period in March of last year, however finished significantly lower.
Chris Shields, President of the Board, observes, "Sales were steadily increasing as is typical moving into spring, and then understandably and necessarily, they started to decline. We serve the public and we understand it is very challenging to buy or list a home while maintaining physical distancing, however if you need us, know that we are here for you."
"We are grateful that the BC government has designated real estate an essential service, and accordingly, our industry has implemented numerous measures to mitigate and manage risk. We have suspended open houses, restricted showings, pivoted to using technology as much as possible, and are urging Realtors in the middle of completing transactions with their clients to do so electronically."
The Board received 2,666 new listings in March, a 4 per cent increase compared to February’s intake of 2,557 new listings. In the lead up to March 10, new listings were tracking 3 per cent higher compared to the same period last year.
By month end, new listings finished 7 per cent lower compared to March of last year taking the number of active listings to 6,083, an increase of 6 per cent compared to February’s inventory and a decrease of 13 per cent year-over-year.
"Shields adds, "A Realtor’s duty is to protect our clients. Now, as a society, we all have a duty. We are urging consumers to follow all recommended health and government guidelines and are committed to doing our part for as long as necessary."
In March, the average number of days to sell an apartment was 27; 28 for townhomes and 38 or single family detached.
MLS® HPI Benchmark Price Activity
SURREY, BC – In February, property sales in the Fraser Valley finished slightly above the 10‐year average for the month, while new listings came in 3 per cent below, keeping overall inventory at historically below‐average levels.
The Fraser Valley Real Estate Board processed 1,352 sales of all property types on its Multiple Listing Service® (MLS®) in February, a 39 per cent increase compared to sales in January 2020, and a 38 per cent increase compared to the 982 sales in February of last year. Of the 1,352 total MLS® sales of residential and commercial combined in the Fraser Valley, 534 were single family detached homes, 341 were townhouses, and 315 were apartments.
“Supply is a challenge currently in some areas and for certain property types. In February, in Langley for example, for every 10 active townhomes, six sold. In Cloverdale, there were 26 active condo listings last month; and 20 sold,” said Darin Germyn, President of the Board.
There were 5,741 active listings available in the Fraser Valley at the end of February, an increase of 12 per cent compared to January’s inventory and a decrease of 10 per cent year‐over‐year. Additionally, 2,557 new listings were received by the Board for the month, a 15 per cent increase compared to January’s intake of 2,216 new listings and a 15 per cent decrease compared to February of last year.
“We are seeing more traffic at open houses, more multiple offers and a slight increase in year‐over‐year prices, so if you’ve been thinking about selling, talk to your local REALTOR® to find out if it’s the right time for you,” observed Germyn.
“Another indicator we look at is how long it takes to sell a home and in February, the three main residential property types sold on average six days faster than last year.”
For the Fraser Valley region, the average number of days to sell an apartment in February was 35, and 33 for townhomes. Single family detached homes remained on the market for an average of 37 days before selling.
MLS® HPI Benchmark Price Activity
Single Family Detached: At $971,300, the Benchmark price for a single‐family detached home in the Fraser Valley increased 1.1 per cent compared to January and, also increased 1.3 per cent compared to February 2019.
Townhomes: At $523,200*, the Benchmark price for a townhome in the Fraser Valley increased 1.0 per cent compared to January and increased 1.4 per cent compared to February 2019. *Preliminary number pending further review
Apartments: At $414,500, the Benchmark price for apartments/condos in the Fraser Valley increased 1.5 per cent compared to January and increased 1.2 per cent compared to February 2019.
NEW LISTING! 15310 28A AVE in Surrey.
Welcome home! This lovely rancher is tucked away in a quiet cul-de-sac . Spacious 1800 sq.ft 3 bdrm 2 bath well kept Rancher. This home has a great layout. Large living room with attached dining room with vaulted ceiling. Master suite features new ensuite and walk in closet. 2 other generous sized bedrooms. New Kitchen off the family room which opens to your private fenced South facing backyard. Features include new paint, wainscotting and baseboards throughout, new flooring, updated bathrooms, New plumbing, newer stainless appliances, furnace 2007, New 40 year roof, New windows security system, built in vac, blinds and more. Close to Southpoint shopping, transit, hwy.
NEW LISTING! 15287 21A AVE in Surrey.
Central yet quiet location! Three bedroom rancher located close to schools, shopping, transit & more. Lots of upgrades, newer windows, furnace, solid maple cabinets, quartz counter tops & appliances, lighting, engineered h/w floors, exterior painting, garage doors, driveway, extra insulation in attic and more. Furnace replaced 2007. Large living room with fireplace, dining room off the kitchen. Family room with exit to the n/w facing fenced yard. Good sized master bedroom with two piece en-suite (and room to expand en-suite) Large laundry room. Over sized 2 car garage with new doors. Lots of storage space. Don't miss out on this perfect rancher!
SURREY, BC – January’s property sales in the Fraser Valley came in 6 per cent above the 10-year average for the month, while new listings finished 11 per cent below historical norms.
The Fraser Valley Real Estate Board processed 974 sales of all property types on its Multiple Listing Service® (MLS®) in January, a 21.9 per cent decrease compared to sales in December 2019, and a 24.2 per cent increase compared to the 784 sales in January of last year.
Of the 974 total MLS® sales of residential and commercial combined in the Fraser Valley, 363 were single family detached homes, 241 were townhouses, and 248 were apartments.
Additionally, 2,216 new listings were received by the Board for the month, a significant increase compared to December 2019’s intake of 948 new listings and a 15.1 per cent decrease compared year-over-year.
MLS® HPI Benchmark Price Activity
For the Fraser Valley region, the average number of days to sell an apartment in January was 49, and 47 for townhomes. Single family detached homes remained on the market for an average of 60 days before selling..
NEW LISTING! 15612 37A AVE in Surrey.
Beautiful Craftsman style home in Morgan Creek. Don't miss this one as it is beautiful. Stunning hardwood floors have just been refinished. Great room plan with built ins and river rock fireplace. Large kitchen with walk in pantry. Separate dining room and den on the main floor. Huge master suite up, 3 more bedrooms with hardwood flooring up as well. Large south facing back yard with covered deck. Basement has a separate entrance and is perfect for Nanny or In-law suite (no cooking facility). Separate games room for the upstairs. Large garage with attached work shop or storage. This home has it all and is in a great neighbourhood.
SURREY, BC – After a sluggish first half of the year, property sales in the Fraser Valley started picking up speed in the summer and finished strong in December, but not enough to surpass last year’s sales totals.
The Board’s Multiple Listing Service® (MLS®) processed 15,487 sales in 2019, a 0.6 per cent decrease compared to 2018’s 15,586 sales and the lowest total sales volume for the Fraser Valley since 2013. The total dollar volume of MLS® transactions for the year was $11.2 billion, dropping from $11.8 billion sold during the year prior.
In 2019, total sales of the three main residential property types – detached, townhome and apartment – was 13,773. Of that total, 5,770 were detached, 3,888 were townhouses and 4,115 were apartments. Year‐over‐year, sales of detached and townhomes increased by 0.6 per cent compared to 2018, while apartment sales dropped by 4.2 per cent. “Comparatively, 2019 was slower than normal for our region,” said Darin Germyn, President of the Board. “Earlier in the year, we were still feeling the impact of the stress test introduced in 2018, but with steady job growth in our region and a stable economy, we’ve seen sales in the last few months return to above‐average levels.”
In December the Board processed a total of 1,247 sales, the third best December since 2010. Active inventory finished at 4,686 units in December, 20.3 per cent lower than the 10‐year average for the month, with a total of 948 new listings entering the market throughout the month.
Germyn added, “Some sellers have been holding back on listing, waiting until the market improves, with the result that supply in many areas currently is quite tight; so if you’re looking to enter the market in 2020, now is a good time. Without a healthy supply of inventory in the coming months, we could see upward pressure on prices.”
A total of 30,568 new listings were received by the Board’s MLS® system in 2019. This year was the second lowest for new inventory for the Board in the last decade.
MLS® HPI Benchmark Price Activity
Single Family Detached: At $953,700, the Benchmark price for a single‐family detached home in the Fraser Valley increased 0.2 per cent compared to November 2019 and decreased 1.2 per cent compared to December 2018.
Townhomes: At $514,900, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley remained on par with November 2019 and decreased 3.2 per cent compared to December 2018.
Apartments: At $405,500, the Benchmark price for apartments/condos in the Fraser Valley increased 0.2 per cent compared to November 2019 and decreased 3.1 per cent compared to December 2018.
NEW LISTING! 14397 26 AVE in Surrey.
Spectacular property on the tip of Woodshire Park. Across from Sunnyside Acres. This home is surrounded by multi-million dollar homes. Great value here. Home is in original condition, but can be easily updated. 3 level split with large rooms. 2.5 baths & 3 bedrooms. Large family room off the kitchen. formal living & dining rooms. This home has amazing potential. The detached 700 sqft shop with bay door is a car enthusiasts dream. Property is nearly 3/4 of an acre with huge potential. This property is a gem!
NEW LISTING! 4 2988 151 ST in Surrey.
Southpoint Walk Townhome. Great 2 storey townhome with underground secured garage. Walk in on the main floor which features large, living & dining room, spacious kitchen with top of the line appliances, Den & powder room on the main floor. Walk out from the kitchen to the fenced yard. Upstairs features large master with 5 pce ensuite, his & hers closets, large laundry room, 2 bedrooms & main bath. This home shows like new. garage is underground with secured gate access. Plenty of storage. Walk to shopping & transit. Strata features exercise center, lounge & games room. This can be your new address for the New Year.
Posted in: Willoughby Heights, Langley Real Estate
NEW LISTING! 1 20738 84 AVE in Langley.
Welcome home to the highly sought after Yorkson Creek. This lovely end unit features many upgrades throughout. The bright kitchen includes granite counter tops, high end cabinetry, and stainless steel appliances. The fenced patio is the perfect spot to sit with a morning cup of coffee or keep an eye young children or pets. The living room features a gas fireplace and hardwood floors. Three spacious bedrooms upstairs with bright windows. The master bedroom includes air conditioning, a walk in closet, and an en suite with heated flooring. The ground floor includes a double tandem garage and recreation room. This well equipped home also includes a central vac, on demand hot water, and shaw cable and internet included in your strata fees.
NEW LISTING! 33 15450 ROSEMARY HEIGHTS CRES in Surrey.
Beautifully transformed luxurious townhome in the gated community of The Carrington. Duplex style home with so many updates that make this a one of a kind home in the community. The home features vaulted ceilings, master on the main, walk out to a beautifully landscaped backyard off of the kitchen. Every room has been updated! Wire brushed natural oak flooring, new lighting, new carpets, built in vacuum, updated fireplace hearths and mantles with ledgestone in living and family rooms, updated bathrooms with new plumbing fixtures and vanities, numerous kitchen improvements including counters, sink and more! Custom cabinetry in the master bath and laundry rooms, new casings around the windows & doors,....these are just SOME of the many detailed improvements (full list available).
SURREY, BC – For the second month in a row, home sales in the Fraser Valley surpassed 2018 levels bringing the market closer to historical norms.
The Fraser Valley Real Estate Board processed 1,297 sales of all property types on its Multiple Listing Service® (MLS®) in August, an 11 per cent decrease compared to sales in July 2019, and a 12.3 per cent increase compared to the 1,155 sales in August of last year.
Darin Germyn, President of the Board, observed, “Compared to last year, this August has been quite robust. All property types are selling and we’re seeing a resurgence in the single‐family detached market. Across North Delta, Surrey and Langley, sales are up over 25 per cent.
“It’s great to see. We’re returning to a normal, steady market. Our sales, new listings and number of active listings in August were all slightly below the 10‐year average.”
There were 8,040 active listings available in the Fraser Valley at the end of August, an increase of 9.6 per cent compared to August of last year and a decrease of 3.6 per cent compared to July 2019. The Board received 2,357 new listings in August, a 15.7 per cent decrease compared to July 2019’s intake of 2,797 new listings and an 8.5 per cent decrease compared to August of last year.
Germyn adds, “Inventory has stopped growing as demand has picked up, which is why we’re also seeing prices moderate. Last month, prices of typical homes in the Fraser Valley were on par with prices from six months ago.”
HPI® Benchmark Price Activity
Single Family Detached: At $954,100, the Benchmark price for a single‐family detached home in the Fraser Valley decreased 0.3 per cent compared to July 2019 and decreased 5.4 per cent compared to August 2018.
Townhomes: At $521,400, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley increased 0.1 per cent compared to July 2019 and decreased 4.9 per cent compared to August 2018.
Apartments: At $409,200, the Benchmark price for apartments/condos in the Fraser Valley decreased 0.1 per cent compared to July 2019 and decreased 7.7 per cent compared to August 2018.
For the Fraser Valley region, the average number of days to sell an apartment in August was 45, and 36 for townhomes. Single family detached homes remained on the market for an average of 44 days before selling.
Full Stats Package: http://fvreb.bc.ca/statistics/Package201908.pdf
NEW LISTING! 15445 BUENA VISTA AVE in White Rock.
One owner custom built home in Grandview Lane. Ocean View from covered balcony. This lovely 2 storey home has many great features. Open floor plan with the master on the main. Brazillian Cherry Hardwood floors, Maple kitchen cabinets & granite counters. Walk in pantry in the kitchen. Walk out from the livingroom and master bdrm to the covered deck to enjoy the southern views. Wide hallways & doorways make this home wheelchair accessible. Lower lever features include large games room, 2 bedrooms and main bath. Walk out to the landscaped patio and garden area. Don't miss this great home.
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