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Posted in Sunnyside Park Surrey, South Surrey White Rock Real Estate
New property listed in Sunnyside Park Surrey, South Surrey White Rock

NEW LISTING!  15310 28A AVE in Surrey.
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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.
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Posted in King George Corridor, South Surrey White Rock Real Estate
New property listed in King George Corridor, South Surrey White Rock

NEW LISTING!  15287 21A AVE in Surrey.
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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!
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Posted in 2020, Fraser Valley Real Estate Stats, January
Fraser Valley January home sales typical; new listings lagging

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.



"Considering our record-shattering snow and cold, the pace of home sales remained surprisingly balanced in January," said Darin Germyn, President of the Board. “Sales in our region have steadily improved since July of last year and January's numbers remained consistent with that trend."



There were 5,143 active listings available in the Fraser Valley at the end of January, an increase of 9.8 per cent compared to December 2019’s inventory and a decrease of 14.2 per cent year-over-year.

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.



"Where the weather may have had an impact in January, is on our housing supply," observed Germyn. "For certain property types, listings in the Fraser Valley are not keeping pace with sales. In areas of Surrey and Langley for example, for every two townhomes listed, one is selling. So, if you’re thinking of buying, talk to your REALTOR® about local market conditions to understand the variances."


MLS® HPI Benchmark Price Activity

  • Single Family Detached: At $960,800, the Benchmark price for a single-family detached home in the Fraser Valley increased 0.7 per cent compared to December 2019 and, also increased 0.7 per cent compared to January 2019.
  • Townhomes: At $518,000, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley increased 0.6 per cent compared to December 2019 and decreased 0.8 per cent compared to January 2019.
  • Apartments: At $408,400, the Benchmark price for apartments/condos in the Fraser Valley increased 0.7 per cent compared to December 2019 and decreased 0.1 per cent compared to January 2019.


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..
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Posted in Morgan Creek, South Surrey White Rock Real Estate

NEW LISTING!  15612 37A AVE in Surrey.
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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.
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Posted in 2019, December
Strong finish for mediocre year in Fraser Valley real estate

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.

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

NEW LISTING!  14397 26 AVE in Surrey.
See details here
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!
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Posted in Sunnyside Park Surrey, South Surrey White Rock Real Estate
New property listed in Sunnyside Park Surrey, South Surrey White Rock

NEW LISTING!  4 2988 151 ST in Surrey.
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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.
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Posted in 2019, Fraser Valley Real Estate Stats, November
Unusual end-of-year demand for Fraser Valley real estate
 
 

Unusual end-of-year demand for Fraser Valley real estate


SURREY, BC – A combination of unseasonably high demand and declining supply reinforced Fraser Valley’s real estate market in November.

The Fraser Valley Real Estate Board processed 1,405 sales of all property types on its Multiple Listing Service® (MLS®) in November, an 11.7 per cent decrease compared to sales in October 2019, and a 36.7 per cent increase compared to the 1,028 sales in November of last year.

Darin Germyn, President of the Board, says, "Some listings are seeing a lot of activity depending on location and property type. REALTORS® are reporting more showings, higher traffic at open houses and even some multiple offer situations, which is atypical for the time of year.



"For our region, a balanced market is when 12 to 20 per cent of active inventory is selling. In November, 33 per cent of our supply of townhomes sold, as did 29 per cent of Fraser Valley condos; indicating that the supply of attached properties isn’t keeping up with demand."



There were 6,733 active listings available in the Fraser Valley at the end of November, a decrease of 8.5 per cent compared to November of last year and a decrease of 9 per cent compared to October 2019. The Board received 1,877 new listings in November, a 21.2 per cent decrease compared to October 2019’s intake of 2,383 new listings and a 9.6 per cent decrease compared to November of last year.



Germyn adds, "Buyers are seeing the effect that tighter supply has on prices. In early summer, the combined residential benchmark price was down 6 per cent compared to the same period last year; in November it was down by 3 per cent."

MLS® HPI Benchmark Price Activity

  • Single Family Detached: At $952,200, the Benchmark price for a single-family detached home in the Fraser Valley remained unchanged compared to October 2019 and decreased 2.5 per cent compared to November 2018.
  • Townhomes: At $514,700 the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley decreased 0.3 per cent compared to October 2019 and decreased 3.4 per cent compared to November 2018.
  • Apartments: At $404,500, the Benchmark price for apartments/condos in the Fraser Valley decreased 0.1 per cent compared to October 2019 and decreased 4.3 per cent compared to November 2018.


For the Fraser Valley region, the average number of days to sell an apartment in November was 40, and 38 for townhomes. Single family detached homes remained on the market for an average of 48 days before selling.
 


 
 
 
 
 
 
 


 


 
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Posted in 2019, Fraser Valley Real Estate Stats, October
Real estate rebound continues for Fraser Valley

Real estate rebound continues for Fraser Valley


SURREY, BC – The demand for Fraser Valley real estate is the strongest it's been since the spring of 2018.

The Fraser Valley Real Estate Board processed 1,592 sales of all property types on its Multiple Listing Service® (MLS®) in October, a 18.5 per cent increase compared to sales in September 2019, and a 37.8 per cent increase compared to the 1,155 sales in October of last year.

Darin Germyn, President of the Board, says, "Our market started to pick up in the summer and we've been steadily improving since. It's rare to see October home sales in the Fraser Valley outpace April and that's what we've seen this year; our typical spring and fall markets have flipped.



"Consumers are feeling more confident. Buyers have grown accustomed to the government's regulation changes. Interest rates have thankfully remained stable and we're likely seeing some pent-up demand from buyers who were holding off earlier this year. October's beautiful, sunny weather didn't hurt either."



There were 7,398 active listings available in the Fraser Valley at the end of October, a decrease of 4.5 per cent compared to October of last year and a decrease of 6.9 per cent compared to September 2019. The Board received 2,383 new listings in October, a 13.9 per cent decrease compared to September 2019's intake of 2,769 new listings and a 14.2 per cent decrease compared to October of last year.
   



Germyn adds, "We're still seeing some hesitation from sellers to list as they continue to watch for further price erosion, however, it's important to talk to your local market expert because prices in some areas have turned the corner and are starting to creep up again."

MLS® HPI Benchmark Price Activity

  • Single Family Detached: At $952,600, the Benchmark price for a single-family detached home in the Fraser Valley increased 0.3 per cent compared to September 2019 and decreased 3.5 per cent compared to October 2018.
  • Townhomes: At $516,000 the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley decreased 0.8 per cent compared to September 2019 and decreased 4.2 per cent compared to October 2018.
  • Apartments: At $405,100, the Benchmark price for apartments/condos in the Fraser Valley decreased 0.1 per cent compared to September 2019 and decreased 6.4 per cent compared to October 2018.



For the Fraser Valley region, the average number of days to sell an apartment in October was 34, and 37 for townhomes. Single family detached homes remained on the market for an average of 46 days before selling.


Full Package: http://fvreb.bc.ca/statistics/Package201910.pdf
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Posted in Willoughby Heights, Langley Real Estate
New property listed in Willoughby Heights, Langley

NEW LISTING!  1 20738 84 AVE in Langley.
See details here
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.
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Posted in 2019, Fraser Valley Real Estate Stats, September
Property sales in Fraser Valley have recovered bringing market into balance

Property sales in Fraser Valley have recovered bringing market into balance


SURREY, BC - For the third straight month, home sales in the Fraser Valley surpassed 2018 levels bringing the market back in line with long-term averages.


The Fraser Valley Real Estate Board processed 1,343 sales of all property types on its Multiple Listing Service® (MLS®) in September, a 3.5 per cent increase compared to sales in August 2019, and a 29.8 per cent increase compared to the 1,035 sales in September of last year.


Darin Germyn, President of the Board, says, "The market's return to balance is good news for both buyers and sellers, however it's important to put the 30 per cent year-over-year increase in sales into context. September's sales went from amongst the worst in 10 years to just above our 10-year average."

"Home prices are still dropping compared to a year ago, but on a month-to-month basis, prices are moderating because supply is shrinking. Our incoming supply of new listings has dropped consistently for the last four months pushing our total inventory in the Fraser Valley to the lowest it's been since April, which has had an impact on prices."

There were 7,946 active listings available in the Fraser Valley at the end of September, an increase of 3.9 per cent compared to September of last year and a decrease of 1.2 per cent compared to August 2019. The Board received 2,769 new listings in September, a 17.5 per cent increase compared to August 2019's intake of 2,357 new listings and a 6 per cent decrease compared to September of last year.

Germyn adds, "Financing is still a challenge for many clients, but fortunately in a balanced market like this, REALTORS® have the time to work with clients and advise them of the best strategies for them, whether they are buying or selling."

MLS® HPI Benchmark Price Activity

  • Single Family Detached: At $950,000, the Benchmark price for a single-family detached home in the Fraser Valley decreased 0.4 per cent compared to August 2019 and decreased 3.9 per cent compared to September 2018.
  • Townhomes: At $520,000 the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley decreased 0.3 per cent compared to August 2019 and decreased 4.8 per cent compared to September 2018.
  • Apartments: At $405,500, the Benchmark price for apartments/condos in the Fraser Valley decreased 0.9 per cent compared to August 2019 and decreased 7.6 per cent compared to September 2018.


For the Fraser Valley region, the average number of days to sell an apartment in September was 41, and 37 for townhomes. Single family detached homes remained on the market for an average of 46 days before selling.



Latest Statistics Package
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Posted in Morgan Creek, South Surrey White Rock Real Estate
New property listed in Morgan Creek, South Surrey White Rock

NEW LISTING!  33 15450 ROSEMARY HEIGHTS CRES in Surrey.
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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).
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