All Categories

“So… How is the market?” - A question I am frequently asked when conversing with clients. The short answer is, “Vibrant!” The Fraser Valley Real Estate Board’s Multiple Listing Service (MLS) processed 1,982 sales in June. This number reflects a 40% increase in sales from the same month last year. This is also a dramatic increase from the 980 sales processed in September, 768 sales in October and 507 in November of 2008. In fact, June’s numbers were comparable to the level of sal... Read Full Post

The real estate market has been on a bit of a rollercoaster ride in the last year- and mostly just the downhill part. The market in the Fraser Valley peaked in May of 2008 and has since dropped over 10%. As active Realtors in the industry, we witnessed the usual seasonal slow down in July and August followed by a hesitancy in the marketplace replacing the generally vibrant September activity. By October, the greater extent of the global financial crisis had hit the media and the market came t... Read Full Post

Yes, the current inventory of the Fraser Valley Real Estate Board is at an all time high of 12,300 units, but is this figure as scary as it sounds? The previous record that has just been broken was set in 1995 when the inventory levels reached 12,000. The local real estate market in Langley was fairly stagnant at the time. Keep in mind, the population of the Township of Langley (TOL) was approximately 65,000 in 1995. This means that there were 0.18 listings in the Fraser Valley for every resi... Read Full Post

There has been a lot of speculation and talk on the Canadian housing market lately, as a result of the constant stream of negative press flowing from of the US. Firstly let me say, do not believe everything the media tells you. The press thrives on negativity, so if they can spin statistics to paint pictures of Doom & Gloom, that’s what they’re going to print. “Do not put your faith in what statistics say until you have carefully considered what they do not say”. ~William W. Watt ... Read Full Post

This months stats package just came out and has some useful tidbits: "May’s increase in new listings at 3,691 was the second highest influx of new inventory on record for the Fraser Valley Board’s MLS®. New listings increased by 34 per cent compared to the same month last year taking the number of active listings in May to 8,381, an increase of 52 per cent compared to the 5,496 active listings in May of 2006." A 52% increase in inventory from last year is HUGE. However, last spring was r... Read Full Post