I just sold this House at 9583 205 Street, Walnut Grove, Langley, British Columbia Walnut Grove.

View this recently sold House or see all my home sales

I just sold this House/Single Family at 15828 29A AVENUE, Grandview Surrey, South Surrey White Rock, BC Grandview Surrey.

View this recently sold House/Single Family or see all my home sales

SURREY, BC – The policy rate cut of 25 basis points by the Bank of Canada on June 5 was not enough to rally home sales in the Fraser Valley last month.

The Fraser Valley Real Estate Board recorded 1,317 sales in June, down by 13 per cent over last month and by more than 30 per cent over both last year and the 10-year seasonal average.

While sales remain soft, inventory continued to build for the sixth straight month to 8,350 active listings. Active listings increased 41 per cent over June 2023 and are the highest they’ve been in five years.

“With seasonally slow sales in June and a steady increase in inventory, we’d expect to see affordability improve,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “However, prices in the Fraser Valley remained relatively flat. That said, despite slow sales, properties that are well-priced are finding buyers, and are subsequently selling within three to four weeks.”

New listings dropped in June, down nine per cent from May, to 3,418. With a sales-to-active listings ratio of 16 per cent, overall market conditions are balanced. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

“The June rate cut hasn’t been enough to get buyers off the sidelines,” said FVREB CEO, Baldev Gill. “Current market conditions are such that buyers and sellers are advised to have thoughtful conversations with their REALTOR® and lending professional, rather than relying on media reports about where interest rates may be heading in the future.”

Across the Fraser Valley in June, the average number of days to sell a single-family detached home was 22, while a townhome was 20. Condos took on average, 30 days to sell.

Benchmark prices in the Fraser Valley remained relatively flat in June, with the composite Benchmark price down 0.5 percent from May and down 3.2 per cent from June 2023.

To read the full statistics package, click here.

I just sold this Apartment/Condo at 316 316 19835 64 AVENUE, Willoughby Heights, Langley, BC Willoughby Heights.

View this recently sold Apartment/Condo or see all my home sales

We are proud to announce that this Jun 22nd, 1:00 PM to 2:30 PM we will be hosting an Open House at 15828 29A AVENUE in the Grandview Surrey neighborhood, South Surrey White Rock. This is an opportunity to visit this excellent House/Single Family for sale in beautiful Grandview Surrey.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Grandview Surrey House/Single Family for sale.

As always please do not hesitate to give me a call at if I can answer any questions before the open house, or if you would like to book a private showing.

Scott Williams
One Percent Realty Ltd.

SURREY, BC – Slower seasonal sales helped build inventory to its highest level since September 2019 in the Fraser Valley in May, creating more balanced market conditions for home buyers and sellers. The increase in supply over the past several months has further contributed to a softening of price growth, which is good news for buyers.

Active listings increased eight per cent from April to May to 7,904 — up 42 per cent over May 2023 and 19 per cent above the 10-year average.

Sales, however, remained seasonally slow, with 1,517 transactions on the Fraser Valley Real Estate Board’s Multiple Listings Service ® (MLS®) in May, up 3 per cent from April, but down 11 per cent compared to May 2023. May sales were 21 per cent below the 10-year average.

“We are seeing an influx of inventory this spring, primarily due to slower than usual spring sales,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “Growing inventory levels are helping to create a healthy balance in the market, giving buyers more options, especially as prices continue to flatten.”

New listings softened in May, down five per cent from April, to 3,760. With a sales-to-active listings ratio of 19 per cent, overall market conditions are balanced. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

“While the consensus seems to indicate rate cuts in the latter half of the year, there is considerably less agreement about either magnitude or timing,” said FVREB CEO Baldev Gill. “We strongly encourage buyers to have comprehensive discussions with their REALTORS® about market conditions and how they will
impact mortgage rates in the coming year.”

The average number of days townhomes and single-family detached homes are spending on the market increased slightly in May. Detached homes are spending 25 days on the market, up from 23 in April. Townhomes are spending 20 days on the market, up one day from April, and condos remain steady at 23 days on the market.

Benchmark prices in the Fraser Valley remained flat in May, with the composite Benchmark price down 0.2 percent from April and down 0.8 per cent from May 2023.

To read the full statistics package, click here.

I just sold this Townhouse at 15921 ALDER PLACE, King George Corridor, South Surrey White Rock, BC King George Corridor.

View this recently sold Townhouse or see all my home sales

SURREY, BC – Supply of available homes in the Fraser Valley market continued to build last month, however buyers remained relatively hesitant, leading to a cooler resale market in April.

The Fraser Valley Real Estate Board recorded 1,471 transactions on its Multiple Listings Service® (MLS®) in April, up 5 per cent from March, but off by 5 per cent compared to April 2023.

While sales were the third lowest recorded for an April in the last decade, inventory continues to build, reaching levels not seen since September 2020. Active listings were 7,313, up by 18 per cent over last month and 17 per cent above the 10-year average.

“We are seeing a relatively calm and balanced market right now,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “Which means buyers have time to shop around and purchase a home without the pressure of a few years ago, and while prices are holding fairly steady across all property types.”

New listings helped bolster overall inventory, increasing 33 per cent in April, to 3,976. With a sales-to-active listings ratio of 20 per cent, overall market conditions are balanced. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

“There is a lot of caution in the market right now,” said FVREB CEO Baldev Gill. “Buyers are hesitant to purchase a home until the Bank of Canada lowers its rate — however we encourage anyone looking to get into the market to talk to their REALTOR® and their financial professional about what rates are available today.”

The average number of days homes are spending on the market continues to decline, with single-family detached homes spending 23 days on the market, down from 27 days in March, apartments spending 23 days on the market, down from 26 days in March and townhomes moving more quickly at 19 days, down from 20 days on the market in March.

Overall Benchmark prices edged up again in April, by 0.5 per cent from March and up 1.5 per cent over April 2023.

To read the full statistics package, click here.

SURREY, BC –Home buyers in the Fraser Valley have more choice heading into the spring market with inventory levels for March at the highest they’ve been in the past five years.

However, March sales were slower than anticipated with 1,395 transactions recorded on the Fraser Valley Real Estate Board’s Multiple Listings Service® (MLS®), a 13 per cent increase over February, but still 31 per cent below the 10-year average. Sales were the second lowest recorded for a March in a decade. Active listings were 6,197, up by 11 per cent over last month and by 37 per cent over March 2023.

“With inventory building, buyers now have more opportunities in both the detached and attached markets compared to one year ago,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “However, despite increased options, some buyers may still be waiting on the sidelines for the financing landscape to further settle before they feel comfortable getting back into the market.”

New listings increased 7 per cent in March, to 2,986 but remain 12 per cent below the 10-year average. With a sales-to-active listings ratio of 23 per cent, overall market conditions remain in seller’s market territory. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

“Despite slower than anticipated sales in March, sellers who draw on the knowledge and expertise of a professional REALTOR® to help price their property appropriately, are, in some cases, getting multiple offers and are seeing their property move quickly,” said FVREB CEO Baldev Gill. “That’s why we always encourage buyers and sellers to work with their local REALTOR® who understands the changing market conditions and can protect their interests.”

The average number of days homes are spending on the market continues to decline, with single-family detached homes spending 27 days on the market, down from 35 days in February, apartments spending 26 days on the market, down from 29 days in February and townhomes moving more quickly at 20 days, down from 28 days on the market in February.

Overall Benchmark prices edged up again in March, by 1.4 per cent from February and up 4.6 per cent over March 2023.

MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,517,100, the Benchmark price for an FVREB single-family detached home increased 2.1 per cent compared to February 2024 and increased 8.8 per cent compared to March 2023.
• Townhomes: At $846,900, the Benchmark price for an FVREB townhome increased 1.9 per cent compared to February 2024 and increased 7.2 per cent compared to March 2023.
• Apartments: At $555,000, the Benchmark price for an FVREB apartment/condo increased 1.6 per cent compared to February 2024 and increased 6.9 per cent compared to March 2023.

To read the full statistics package, click here.

SURREY, BC – Home sales in the Fraser Valley posted a second consecutive bump in February as new listings continue to rise and trend slightly above the 10-year seasonal average.

The Fraser Valley Real Estate Board recorded 1,235 transactions on its Multiple Listing Service® (MLS®) in February, a 32 per cent increase over January but still 21 per cent below the 10-year average for sales in the region. New listings increased to 2,797 in February, up 18 per cent from January and 4 per cent above
the 10-year average.

“There is somewhat of a buzz in the market right now,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board. “We are seeing new listings come onto the market and REALTORS® continue to see more traffic at open houses, however buyers are still exercising caution. We aren’t out of the woods just yet, but
the signs are pointing to a further increase in activity as we head into spring.”

Active listings in February were 5,561, up by 14 per cent over last month and up by 26 per cent over February 2023. With a sales-to-active listings ratio of 22 per cent, overall market conditions are edging into a seller’s market. The market is considered balanced when the ratio is between 12 per cent and 20 per
cent.

“All indications suggest we will see the Bank of Canada’s overnight rate begin to decrease mid-year, which is encouraging for buyers and sellers,” said FVREB CEO Baldev Gill. “With that confidence and the spring market on the horizon, we recommend anyone looking to buy or sell to seek the knowledge and guidance
of a professional REALTOR® who can provide detailed analysis and intimate knowledge of the local market.”

The average number of days homes are spending on the market is dropping, with single-family detached homes spending 35 days on the market, down from 44 days in January, apartments spending 29 days on the market, down from 41 days in January and townhomes moving more quickly at 28 days, down from 33
days on the market in January.

After six months of decreases, overall Benchmark prices posted a slight bump in February, edging up 0.9 per cent from January and up 4.8 per cent over February 2023.

MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,485,600, the Benchmark price for an FVREB single-family detached home increased 1.3 per cent compared to January 2024 and increased 8.4 per cent compared to February 2023.
• Townhomes: At $831,000, the Benchmark price for an FVREB townhome increased 0.7 per cent compared to January 2024 and increased 6.7 per cent compared to February 2023.
• Apartments: At $546,100, the Benchmark price for an FVREB apartment/condo increased 1.2 per cent compared to January 2024 and increased 7.2 per cent compared to February 2023.

To read the full statistics package, click here.

I just finished uploading this for sale, 9583 205 Street, Langley, British Columbia

SURREY, BC – The Fraser Valley real estate market showed signs of recovery in January as home sales rose after six consecutive months of decline, and new listings more than doubled.

The Fraser Valley Real Estate Board recorded 938 transactions on its Multiple Listing Service® (MLS®) in January, a 12 per cent increase over December and below the 10-year average for sales in the region.

At 2,368, new listings increased 151 per cent in January, rebounding strongly from the seasonal lull seen in December. This is the largest month-over-month percentage increase in new listings in five years.

“With January sales on the rise, we are seeing hopeful signs that optimism is returning to the market,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board.  “Anticipating that we may be at the end of the Bank of Canada rate hike cycle, it appears that more buyers are considering re-entering the market as we are starting to see more traffic at open houses.”

Active listings in January were 4,877, up by 4 per cent over last month and up by 18 per cent over January 2023. The sales-to-active listings ratio was 19 per cent, representing balanced conditions in the overall market. Detached houses are in balanced market territory at 19 per cent, while both townhomes and apartments remain in seller’s market territory at 34 and 27 per cent respectively. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

“Current balanced market conditions present opportunities for both buyers and sellers,” said FVREB CEO, Baldev Gill. “In today’s market, buyers and sellers have time to get preapprovals, put together offers and take the time needed to work through the purchase or sale of a home with the help of a knowledgeable and professional REALTOR®.”

The average number of days homes are spending on the market has been increasing since October, with single family detached homes spending 44 days on the market, apartments spending 41 days on the market and townhomes moving more quickly at 33 days.

Overall Benchmark prices continued to edge downward for the sixth month in a row, losing less than half a per cent from December, and down six per cent from the 12-month peak in July.

MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,466,100, the Benchmark price for an FVREB single-family detached home decreased 0.4 per cent compared to December 2023 and increased 8.6 per cent compared to January 2023.
• Townhomes: At $825,600, the Benchmark price for an FVREB townhome decreased 0.1 per cent compared to December 2023 and increased 6.9 per cent compared to January 2023.
• Apartments: At $539,700, the Benchmark price for an FVREB apartment/condo increased 0.4 per cent compared to December 2023 and increased 6.5 per cent compared to January 2023.

To read the full statistics package, click here.