New Market Trends from October 2018

The Fraser Valley housing market saw slight increases in both total transactions and overall inventory this month after sales hit their lowest point for the year in September.“While slight, this is the first time since May that sales here have been on the upswing.” said John Barbisan, President of the Board.

The Fraser Valley Real Estate Board processed 1,155 sales of all property types on its MLS® in October, a decrease of 35.8% compared to the 1,779 sales in October of last year, and a 11.6% increase compared to sales in September 2018. Of the 1,155 sales, 438 were residential detached homes, 306 were townhouses, and 292 were apartments. Active inventory for the Fraser Valley in October finished at 7,746 listings, increasing 1.3% month-over-month and 41.3 % year-over-year. A total of 2,776 new listings were received by the Board in October, a 5.8 % decrease from that received in September 2018, and a 12 % increase compared to October 2017.

“We’re in a much better spot in terms of overall inventory compared to this time last year, and now closer to a more balanced market. Attached inventory in particular has seen notable gains, doubling year-over-year for townhouses and nearly tripling for apartments.” For the Fraser Valley region, the average number of days to sell both an apartment and townhouse in October was 31. Single family detached homes remained on the market for an average of 39 days before selling.

• The Benchmark price for a Single Family Detached was $986,700 a decrease of 0.2% compared to September 2018 and an increase of 1.1% compared to October 2017.
• The Benchmark price for Townhomes was $538,400 a decrease of 1.4% compared to September 2018 and an increase of 7.1% compared to October 2017.
• The Benchmark price for Apartments/Condos was $432,800 a decrease of 1.3% compared to September 2018 and an increase of 17.2% compared to October 2017.

To have a free market evaluation on your home, please contact me. I would love to meet up!


Client appreciation - doing something special for my clients!
I have always wanted to ensure my clients know how much I appreciate them and I always make sure to stay in touch. I find not only are they my clients, but it feels like we all become friends. You spend a lot of time getting to know your clients while they are house hunting, or selling their home. Ensuring you understand their likes and dislikes, what their dreams are and what would make things perfect for them. Just like you would for your friends!

This Thanksgiving, I wanted everyone to know how much I am thankful to have them in my life. I went and delivered these beautiful flower arrangements in these pumpkins for everyone to enjoy!


Are you ready to replace the carpet in your home?
Carpet provides excellent insulation value to a space, much more than hard surface flooring materials. With the use of an underpad, it reduces heat loss which means the carpet can help you save on the costs associated with heating a home. (such as electricity or natural gas.) For regions that experience cold winters, this could amount to a big cost savings every year.

Nylon is homeowners most popular choice when it comes to carpet. It's a man-made fiber that is wear, soil and stain resistant! Allowing you to get a lot of use out of the carpet and your monies worth!

For an optimum effect, select soft tones of off-white, blue and green, and always remember that brighter rooms look bigger and more inviting

Fixer upper? Or move in ready?
Fixer upper or move in ready?

If your going the fixer upper route, schedule an extensive home inspection. Houses that need work may contain structural or cosmetic concerns, so it is important to know what elements need to be fixed in order to work those costs into your budget. Invisible upgrades (electrical, plumbing and heating) can be expensive fixes that don’t always increase a house’s value because they are naked to the eye of a potential homebuyer.

One of the benefits of buying a fixer upper, will allow you to customize the home to your desires. Really intersted in a chef's kitchen? Really looking for a kitchen with maximized storage? These are things that you can incorporate into your own design!

For the move in ready homes, you can save the hassel of living in a construction zone, which could feel like it's "forever". Move-in ready homes often include builder upgrades that make them very appealing for new home buyers. Higher-end fixtures, cabinets and flooring are the most commonly included amenities, but options may vary by builder.

Would you go the fixer upper route? Or move in ready?