Hello!


As I look back at July and August we saw a definite cooldown of the market. However, we are still dealing with extremely low inventory, low-interest rates, and Covid. I suspect this Fall market to pick up and continue to be a competitive market for Buyers as low inventory continues and demand stays high. I have previously not found federal elections to have much of an immediate impact on the local real estate market. As always, I am here to help if you have any questions regarding real estate.

PS. I wrote an article below on a new ALR rule coming into effect later this year.


ALR Changes

Increasing housing flexibility in the ALR


As of December 31, 2021, new rules will allow property owners in the
ALR an option to have both a principal residence and a small secondary
residence.

If the principle residence is under 5,382sqft, then a secondary detached
residence up to 969sqft can be built. The principal residence is also
allowed a legal suite. This will make ALR land a great option for families
who are looking for multi-generational living!


We made a great informational video, click here to watch.

Contact me for more information!

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Hello!


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.


Market Update

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

Exciting News

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!


Meet Caroline Jeklin


Caroline Jeklin - Real Estate Professional

Caroline@ScottSells.ca

C: 604.319.5052



Meet Parissma Patel


Parissma Patel - Client Care Specialist

Admin@ScottSells.ca

P: 604.530.0231


 

FRASER VALLEY REAL ESTATE BOARD

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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.


Click Here For the Full Report

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.