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October 2021 - Market Update

Hello!


The Fall market has arrived.  The market has picked up after the Summer and we are still seeing very low inventory and high Buyer demand.  In most price ranges under $2million we are back to a market that is designed for multiple offers and Buyer's competing for properties.  When you get into acreage and higher end properties things slow down a little depending on what it is.   Saying that, there are still some deals and opportunities out there.  You need to have your ducks in a row to purchase, or know where you are going if you sell.   We are seeing some really high prices on single family detached in areas like Brookswood, Murrayville, and Walnut Grove.  Recently I have had several clients sell in Langley and move to the island for a different lifestyle and cheaper real estate.  If you have any questions about the market please reach out and I would be happy to help.

Back to School Fall Art Contest

Thank you to everyone who entered our colouring contest! We had 99 entries come in and there are some really talented artists out there. Congratulations to Lexi & Lauren on winning the contest. Here is the bus shelter going up in Brookswood on 200 street showcasing our two winners.
 

In a previous newsletter we mentioned the changes coming to ALR properties at the end of this year. We put together an informative video explaining how it will work. Check it out below:

 

CHECK OUT OUR LATEST LISTINGS

 

Thank you and we hope everyone is enjoying the changing leaves.  If you have any questions about real estate we are always here to help

- Scott, Caroline and Parissma
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New property listed in Brookswood Langley, Langley

We have listed a new property at 81 2315 198 ST in Langley.
Deer Creek Estates - Well maintained 2 bdrm, 1 bath mobile home features a bright living rm & dining area, great open plan kitchen with full sized appliances and separate laundry. Spacious bathrm, large master bdrm, covered deck + a handy storage shed. Deer Creek Estates has a club house & is within walking distance to shopping and transportation. Age 45+ with one person 17+. One pet ok max 14" or 12 lbs.
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We have sold a property at 3760 207 ST in Langley

We have sold a property at 3760 207 ST in Langley.
Looking for over a 1/3rd acre in Brookswood? This 15,510sqft rectangular lot is huge! 80' frontage by 194'. Located on a quiet street with brand new homes close by. The existing 3,218sqft home has a legal ground level 1bdrm side suite plus a detached shop. Main home is 5bdrm, 3bath plus the 1bdrm suite. A unique home with lots of space to live in and enjoy, or an incredible building lot. Detached 22'x44' shop has a bonus room for storage and 2pc bath. Tons of parking and a very private lot. Close to schools and parks. Brookswood lots this big don't come up often.
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New property listed in Elgin Chantrell, South Surrey White Rock

We have listed a new property at 3250 144 ST in Surrey.
Incredible opportunity in Elgin. Possible to develop this 1.1 Acre property into 2 lots. Sewer and city water on the road. A fantastic corner lot with 294' frontage on 144th. The property is immaculate and cleared with a few select trees, perimeter hedging, and gated. Existing 1,907sqft rancher sits to one side and could potentially be kept on one lot and the Dream 30x50 shop on the other. Existing shop has second driveway off 32nd, vaulted ceilings, 2 pc bathroom, and room for a hoist. Live in or rent out while you subdivide and plan your homes. Incredible location in Elgin with many high end homes all around. A rare opportunity in a premium location.
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We have sold a property at 4437 196A ST in Langley

We have sold a property at 4437 196A ST in Langley.
Looking for a massive yard? This Brookswood home sits on a huge 13,904sqft West facing lot with 80' of frontage. The 1,952sqft split entry has 3bdrms, 2.5 baths and flex room/bedroom and a den. Upgrades include new open plan kitchen, updated basement bathroom, pots lights, new h/w tank, mostly new windows, hardwood floors, etc. The incredible yard has potential rear yard access, tons of room for a shop, and an inground pool with new equipment including gas heat. Potential for a legal suite in the basement with plumbing already roughed in. Great location in Brookswood on a quiet street. Live in and enjoy this family home, or build your dream home on this huge lot. City water. Potential opportunity to hook up to City sewer on the street.
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New property listed in Fleetwood Tynehead, Surrey

We have listed a new property at 170 16177 83 AVE in Surrey.
Welcome to Verdana! This highly sought-after complex is perfectly situated minutes away from shopping, restaurants and parks. This lovely End Unit features 2 spacious bedrooms and a huge bathroom. The main floor has a large living space and a cozy gas fireplace perfect for those cold rainy days. The kitchen has stainless steel appliances including a brand new fridge. The yard is fully fenced in, nice and private. Double tandem garage. ***Open House Oct 23 & 24 (Sat & Sun) from 1pm - 4 pm***
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Open House. Open House on Saturday, October 23, 2021 1:00PM - 4:00PM
Public Open House - No Appointment Necessary. Please follow COVID protocols
Please visit our Open House at 170 16177 83 AVE in Surrey.
Open House on Saturday, October 23, 2021 1:00PM - 4:00PM Public Open House - No Appointment Necessary. Please follow COVID protocols
Welcome to Verdana! This highly sought-after complex is perfectly situated minutes away from shopping, restaurants and parks. This lovely End Unit features 2 spacious bedrooms and a huge bathroom. The main floor has a large living space and a cozy gas fireplace perfect for those cold rainy days. The kitchen has stainless steel appliances including a brand new fridge. The yard is fully fenced in, nice and private. Double tandem garage. ***Open House Oct 23 & 24 (Sat & Sun) from 1pm - 4 pm***
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Open House. Open House on Sunday, October 24, 2021 1:00PM - 4:00PM
Public Open House - No Appointment Necessary. Please follow COVID protocols.
Please visit our Open House at 170 16177 83 AVE in Surrey.
Open House on Sunday, October 24, 2021 1:00PM - 4:00PM Public Open House - No Appointment Necessary. Please follow COVID protocols.
Welcome to Verdana! This highly sought-after complex is perfectly situated minutes away from shopping, restaurants and parks. This lovely End Unit features 2 spacious bedrooms and a huge bathroom. The main floor has a large living space and a cozy gas fireplace perfect for those cold rainy days. The kitchen has stainless steel appliances including a brand new fridge. The yard is fully fenced in, nice and private. Double tandem garage. ***Open House Oct 23 & 24 (Sat & Sun) from 1pm - 4 pm***
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September 2021 FV Housing Market Stats

Positive start to fall market; new listings increase, sales soften

SURREY, BC – Demand for Fraser Valley real estate remained robust in September. While overall sales decreased compared to August, total sales reached the second‐highest levels for the month of September in the 100‐year history of the Board.

The Board processed a total of 1,866 property sales on its Multiple Listing Service® (MLS®) in September, a decrease of 10.6 per cent compared to August and a 16.4 per cent decrease compared to the same month last year.

Larry Anderson, President of the Board, said, “While we’ve seen a solid increase in new listings compared to August, market conditions continue to be challenging for buyers. Considering the demand across the region, the increase is simply not enough to bolster the inventory required to create greater balance in the market.

“Demand for residential homes of all types is strong in the Fraser Valley with more sellers returning to the table in September, which is expected at this time of year.”

In September, the Board received 2,342 new listings, a decrease of 33.4 per cent compared to last year, and an increase of 11.2 per cent compared to August 2021. The month ended with a total active inventory of 3,812, which is a 6.5 per cent decrease compared to August, and a 48.3 percent decrease compared to September 2020.

Baldev Gill, Chief Executive Officer of the Board, added, “The pandemic continues to have an impact on current conditions and while the market remains steady, we are sensitive to ongoing health and safety concerns. Our members follow stringent protocols as mandated by the Public Health Officer, and we will continue to lead by example for the benefit of our members and their clients.”

Across Fraser Valley, in September, the average number of days to sell a single‐family detached home was 26 and a townhome was 19 days. Apartments took, on average, 26 days to sell.


MLS® HPI Benchmark Price Activity

Single Family Detached: At $1,362,220, the Benchmark price for an FVREB single‐family detached home increased 1.9 per cent compared to August 2021 and increased 31.9 per cent compared to September 2020.

Townhomes: At $707,300, the Benchmark price for an FVREB townhome increased 1.4 per cent compared to August 2021 and increased 24.7 per cent compared to September 2020.

Apartments: At $504,500, the Benchmark price for an FVREB apartment/condo increased 1.2 per cent compared to August 2021 and increased 15.5 per cent compared to September 2020.


Find the September 2021 Statistics Package here.

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New property listed in Campbell Valley, Langley

We have listed a new property at LT.A 23639 36A ST in Langley.
Langley's street of dreams. Here is an extremely rare opportunity to purchase a freehold nonstrata RU-3a building lot. This .45acre lot has 64.4' of frontage and 305.9' of depth. The purchase price includes and brand new drilled well and a 30'x34' detached shop with 11' ceilings on the main, two 10' doors and a large bonus room up top. Subdivision should be finalized by Spring 2022 which gives you time to start on your plans. A flat beautiful lot with no creeks or easements and some nice mature trees. Surrounded by other high end homes and located on a quiet street backing ALR land. Please do not walk on the property without an appointment.
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We have sold a property at 2512 138 ST in Surrey

We have sold a property at 2512 138 ST in Surrey.
The best of one level living in an incredible location. This Chantrell Park rancher has many top of the line updates and is move in ready. The main floor features real sandstone flooring throughout, a new open plan solid wood kitchen with WOLF/SUB-0 appliances and waterfall marble countertops. 4bdrms, 3 baths. The master has an updated luxurious ensuite w/ soaker tub & separate shower. Also with a massive walkin closet with custom built ins. Other features include new bathrooms, new furnace w/ central A/C, heated crawl space, new h/w tank, & concrete tile roof. The low maintenance yard is perfect for entertaining and features an incredible custom koi pond w/ professional landscaping. Walking distance to great schools and parks. Beautiful tree lined street with other high end homes. *** OPEN HOUSE Sunday 2-4PM ***
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New property listed in Brookswood Langley, Langley

We have listed a new property at 3760 270 ST in Langley.
Looking for over a 1/3rd acre in Brookswood? This 15,510sqft rectangular lot is huge! 80' frontage by 194'. Located on a quiet street with brand new homes close by. The existing 3,800sqft home has a legal ground level 1bdrm side suite plus a detached shop. Main home is 5bdrm, 3bath plus the 1bdrm suite. A unique home with lots of space to live in and enjoy, or an incredible building lot. Detached 22'x44' shop has a bonus room for storage and 2pc bath. Tons of parking and a very private lot. Close to schools and parks. Brookswood lots this big don't come up often.**Correct Address is 3760 207 STREET**
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