Hope you are enjoying all of this beautiful weather we have been having! I have some exciting news to announce and a quick market update for you.
The detached homes market has definitely cooled down. I am not seeing the same volume of Buyers and multiple offers like I was this Spring. Some homes are taking longer to sell and offers with subjects have come back into the norm. This means that Buyers have a little more choice, and can take some more time before committing to a purchase. Townhomes and condos are still quite busy. Saying that, inventory in general is still extremely low and I would not be surprised if we see the market pick back up again this Fall. If you are looking to purchase this year, it might be a good time to jump on something during this lull
The exciting news is that my team has grown! Caroline who has been a rockstar administrator for me now has her real estate license and is working with clients along with using her experience to expand all of our marketing programs for our clients. Also, Parissma has joined us as our Client Care Specialist. She brings her degree in business administration plus experience in management and accounting to strengthen our organization and client care. With the growth of my business over the last two years I want to ensure that all of my clients receive the absolute best service possible. We look forward to taking care of you in the future!
Caroline Jeklin - Real Estate Professional
Parissma Patel - Client Care Specialist
Fraser Valley home sales remained steady in July; lowest supply in forty years
Market activity in the Fraser Valley – both sales and new listings – softened in July, however buyers continued to significantly outnumber sellers resulting in inventory reaching the lowest for the month since 1981. The Board processed a total of 2,006 property sales on its Multiple Listing Service® (MLS®) in July, a decrease of 11 per cent compared to June and a 4.5 per cent decrease compared to the same month last year. Sales continued to remain above normal for July – 15 per cent above the ten‐year average.