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New property listed in Langley City, Langley

NEW LISTING!  78 19649 53 AVE AVE in Langley.
Huntsfield Green End Unit townhome with 2 car garage. South/East yard, backing onto a greenbelt of lovely trees. 2 bedroom, 2 full baths. Newer hardwood flooring throughout & new carpet. Kitchen is bright with white cabinets & appliances, Huge pantry. Master with generous sized walk in closet and full ensuite that has been updated. Custom drapes throughout. Large formal dining & living area with gas fireplace and vaulted ceiling. Back patio is covered with custom fencing for privacy. This home needs nothing. Age restriction: 1 owner must be 55+. 1 pet max 16" at the shoulder. Gated community with pool, hot tub & amenity room. This feels like a resort.
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SURREY, BC – In a year that saw prices peak early on, feeding off the momentum of record-breaking sales in 2021, the Fraser Valley real estate market came back down to earth by the close of 2022, due largely to interest rate increases designed to stave off inflation.

The Fraser Valley Real Estate Board (FVREB) processed 716 sales on its Multiple Listing Service® (MLS®) in December 2022, down 14.7 per cent from the previous month and down by 60.4 per cent compared to the same month last year, making it the lowest December sales recorded in the last 10 years.

The Board received 803 new listings in December, a decrease of 52.8 per cent compared to November, and 37.2 per cent fewer than December of last year. Total active listings for December stood at 3,923, down by 26.4 per cent compared to November, but nearly double (100.5%) compared to December 2021.

The year closed out with a total of 15,273 sales, just over half of 2021’s record-setting 27,692 and the ninth-lowest annual tally of the past decade. New listings were down 8.9 per cent at 32,442 compared to 2021.

With a sales-to-active listings ratio of 18 per cent, the overall market closed out the year in balance (the market is considered balanced when the sales-to-active listings ratio is between 12 per cent and 20 per cent.).

“As the market has adjusted to rate hikes, we’re starting to see a resumption of interest among the public,” said Sandra Benz, President of the Fraser Valley Real Estate Board. “For some time, buyers and sellers alike have delayed decisions in somewhat of a watch-and-wait mode. This has dampened sales as well as supply since fewer new listings come onto the market. We expect activity to pick up in the coming months as this pent up supply and demand starts to emerge.”

Benz added that, under more stable market conditions, there will be strong opportunities for well-priced, well- positioned properties across all categories.

Home prices peaked in March of this year, with the Benchmark price for a detached house hitting a record $1,776,700 before closing out the year at $1,377,200. The composite Benchmark price (all property types combined) finished the year under one million at $955,700.

“If the real estate market has shown us anything this year, it’s that we must be prepared to adjust and adapt to uncertainty,” said Board CEO Baldev Gill. “Market reaction to the many variables at play – be they interest rates, regulatory changes or supply chain issues, for example – is tough to predict at the best of times. It requires detailed analysis and intimate knowledge, often down to the street level, to fully evaluate. Only a professionalREALTOR® can provide the kind of intelligence required to ensure a decision to buy or sell is made with clients’ best interests in mind.”

Across the Fraser Valley in December, the average number of days to sell a single-family detached home was 42 and a townhome 39 days. Apartments took, on average, 33 days to sell. A year ago, properties were moving, on average, two to three times more quickly.

MLS® HPI Benchmark Price Activity

  • Single Family Detached: At $1,377,200, the Benchmark price for an FVREB single-family detached home decreased 2.0 per cent compared to November 2022 and decreased 11.3 per cent compared to December 2021.
 
  • Townhomes: At $787,300, the Benchmark price for an FVREB townhome decreased 1.5 per cent compared to November 2022 and decreased 1.6 per cent compared to December 2021.
 
  • Apartments: At $504,800, the Benchmark price for an FVREB apartment/condo decreased 2.6 per cent compared to November 2022 and decreased 0.4 per cent compared to December 2021.


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New property listed in Crescent Bch Ocean Pk., South Surrey White Rock

NEW LISTING!  2072 128 ST in Surrey.
QUICK POSSESSION POSSIBLE, This lovely home is in the Heart of Ocean Park! Gorgeous "Genex" craftsman style home featuring Great room plan with Vaulted ceilings making this home extra bright. Home office with doors to a private covered deck. Custom kitchen cabinets, with stainless appliances. granite counters. Hardwood floors, & California shutters. Large master with spa like ensuite & vaulted ceilings. 2 more large bdrms and full bath up. Heat pump. Basement features the perfect man cave or games room with custom bar. bedroom, bath & plenty of storage. This home is move in ready. Attached 2 car garage & driveway Heated Large covered patio for year round enjoyment and entertaining. Room for a veggie garden on the side of the home. Walk to shopping, easy access to schools, bus & hwys.
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NEW LISTING!  947 CONFIDENTIAL in Surrey.
Children's products are a huge seller and this company has proven it. A Canadian born company that has been recognized repeatedly for its strong commitment to creating award-winning premium baby products, products are beautifully designed with functionality and safety as a top propriety. This award winning business, has shown huge year over year growth since its inception in 2015, with several distributors and vendors under their belt, they have turned the key on safe baby products. Operating from a leased warehouse space in Surrey, after outgrowing their first location, they ship and sell their products all over the world. Current Business Valuation shows a $3.4mil value. Projections show a revenue of over $3.5mil in next 4 years. Turn key and perfect for someone that wants to own a great established business.
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Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.