October 2021 - Market Update


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:




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

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.

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.

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***

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.

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.