We are a Balanced Market here in the Fraser Valley!

News Release: May 2, 2014 BALANCED MARKET CONDITIONS IN THE FRASER VALLEY (Surrey, BC) – The growth in sales on Fraser Valley’s Multiple Listing Service (MLS®) outpaced the growth in new inventory in April, propelling the market into solid balanced conditions. In April, the Fraser Valley Real Estate Board’s total sales volume increased by 8 per cent year over year and 17 per cent compared to March while new listings saw a 7 per cent increase compared to April 2013 and a 13 per cent increase compared to the previous month. Ray Werger, president of the Board, says, “There’s a lot of optimism right now. It will take a few more months of numbers, but our 2014 market is already on track to outperform last year. “A measurement we rely on to gauge the health of the housing market is the ratio between sales and active listings and in April that number was the highest it’s been in our region in three years. Last month, that ratio for both single family detached homes and townhomes was 21 per cent, meaning for every 100 homes available, 21 sold. That’s a strong, balanced market.” Werger adds that demand for apartments in the Fraser Valley remained softer. “In some of our areas we have an oversupply of condos and you’ll see that reflected in prices. Generally, prices of benchmark or typical apartments have decreased over the past year. However, both buyers and sellers need to be aware that it depends on the community and the age and quality of the condo.” In April, the benchmark price of single family detached homes in the Fraser Valley was $566,000, an increase of 3.4 per cent compared to $547,300 during the same month last year. For townhouses, the benchmark price was $298,700, virtually unchanged compared to $299,100 in April 2013 and the benchmark price of apartments was $196,300, a decrease of 3.7 per cent compared to $203,900 in April of last year. In April, the Board processed a total of 1,470 sales through its MLS® compared to 1,366 sales in April 2013 and 1,259 sales in March; and, received 3,153 new listings last month compared to 2,951 new listings received during April 2013. The number of active listings reached 9,400, 7 per cent more than were available in March however 6 per cent fewer than were available during April of last year. In April, the number of days on average to sell a detached home in the Fraser Valley was 43; 47 for townhomes; and, 59 days on average for an apartment. All, four days faster than they were in April 2013.

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Lower inventory keeps home prices in check as ‘slow but steady’ market continues Says The FVREB

April, 03 2013 09:38:56 am, by FVREB Categories: Statistics In March, the Fraser Valley Real Estate Board processed 1,128 sales on its Multiple Listing Service® (MLS®), a 20 per cent decrease compared to the 1,412 sales during the same month last year, and a 24 per cent increase compared to February’s 913 sales. The Board also received 11 per cent fewer new listings in March compared to last year – 2,736 compared to 3,066 – keeping inventory in check. March finished with 9,503 active listings, 1.5 per cent fewer than March of last year and 3.5 per cent fewer than the 9,832 available during March of 2009; the highest volume of active listings for that month in the last decade. Ron Todson, President of the Board, explains, “Although we saw a typical spring uptick in activity from February to March, our sales remained at about 70 per cent of the norm for March and our new listings came in at 90 per cent of what the Board would typically receive. “Because inventory levels are in check, prices are staying in check.” In March, the benchmark price of single family detached homes in the Fraser Valley was $544,300, an increase of 0.6 per cent compared to $541,300 during the same month last year. For townhouses, the benchmark price was $298,200, a decrease of 1.7 per cent compared to $303,400 in March 2012 and the benchmark price of apartments was $204,200, an increase of 0.8 per cent compared to $202,500 in March 2012. Todson adds, “Inventory levels are not as high as they need to be to put significant downward pressure on prices of the benchmark, or ‘typical’ home. These are homes that have characteristics most common to houses in a given community. “In fact, we’re seeing the reverse happen. Benchmark prices for all three main property types in the Fraser Valley increased in value during the first quarter of 2013. Since January, detached homes are up by 1 per cent, townhomes by 0.6 per cent; and apartments by 2 per cent.”

Good News for the New Year! 2013 will be another great year for Real Estate.

In todays paper an article came out saying "Single Family Homes are still winners in property price race!" Also, from last week "Buyers waiting for a housing bubble to burst could be waiting a long time." The market from all indications, as per the BC Real Estate Association says it's unlikly that the prices will drop dramatically and we will start to see stronger sales in the next few months. There is strong growth in full time jobs and interest rates still being at a historic low are said to remain that way for the time being. It's a great time to start thinking about listing your home or getting it ready for the Spring Market coming. If you would like more info please feel free to call Sheri Brown at 604-590-4888 or sheri@sheribassociates.ca

Awards won at RE/MAX Convention

I was very excited to goto Vegas this past week and receive an award for my high sales volume for 2011. 2012 is starting off to be a fantastic year ahead as well! RE/MAX also won awards from JD Power & Associates for Best Customer Service for both Buyers and Sellers. I am very proud to be a part of this great company! The spring is upon us and it's a great time to think about getting into the Market. Call or email is you would like more information.

North Delta and Surrey Markets have been extremely active in January. In all of the Fraser Valley in the first 17 days there were 598 homes sold and 2289 Listed homes. At this time last year we were up slightly in sales with 681 sales. North Delta currently has 139 homes on the market for Buyers to choose from ranging in price from a rancher for $384,000 to 1,088,000 in Canterbury Heights. In the townhouse and condo market in North Delta there are 41 units available ranging in price from $73,000 to $649,000 for a luxury townhome in Sunstone.
In the Surrey areas, North Surrey there are approximately 468 listed homes, Central Surrey 457 homes, and in the South Surrey area there is approx. 265 homes for Buyers to look through.
Sheri Brown & Associates has been quite busy in the last two weeks with many Market Evaluations and homeowners getting ready to place their homes on the market in the coming months. The “Spring” Market is sure to be a busy one, with the interest rates taking a decline at most major banks to 2.99% and under. For more information CHECK out www.MYREALTYTV.ca or www.SheriBrown.ca.

Sunstone..North Delta's newest Community now has a website.

I am very pleased to partner with a great Realtor in my office, Kendra Ballendine, on this new website, Sunstone Listings.ca This is a great resource to find out about the area, the clubhouse, the latest hot listings. If you're thinking of selling in the area, we can help. Check out the new site today!

Check out the Latest North Delta Market update

My Realty TV.ca update

North Delta had a busy August with 50 sales of detached homes in the month. Sales Price ranged from $345000 to
862,800 dollars. For sellers, good quality and ready to be shown properties with a sharp list price are finding a red sold sticker on the sign very quickly.
There are currently 182 homes in all areas of North Delta for Buyers to choose from. Prices for homes currently listed start at $390 thousand for a cute starter rancher in Annieville up to 1.5 million for a luxury home in Sunshine Hills with an Exclusive Summit Crescent address. Typically we have not seen too many homes in the plus million mark in North Delta in the last few years, but as of late more luxury properties have been popping up. There are currently 18 homes over $800 thousand with five of those being over the million dollar mark. This can be attributed mainly to older homes in the Sunshine Hills area having been substantially renovated and newer larger homes such as the Sunstone Development in Delsom. The Vancouver population is also discovering how central and easy the commute can be to places such as Richmond, Vancouver or going the opposite way out to the valley. North Delta is a great central location!
For Buyers who are looking for easy townhouse or condo living there are 45 units available on the market as we speak. If you want more information about the fabulous North Delta area and Real Estate I would love to help you. This is Sheri Brown for My Realty TV.ca

Q R Codes....What are these weird squares?

There is another new way of marketing out there amidst all the other techie gadgets! Q R Codes....they have been around for a few years but now Realtors are using them for marketing their properties. On flyer's, lawn signs and business cards they are making their way into our modern advertising. How they work, you ask? Use your SMART phone, take a picture with a QR Code reader application and presto! You go directly to the Realtors website, a YOUTUBE video or their basic contact information. Sheri Brown of RE/MAX Performance will be placing Q R Codes on every sale sign, so if you need to know the valuable information on a property it will take you there in an instant. If you would like more information on Q R Codes and what they do for Real Estate call or email Sheri Brown at 604-590-4888 or sheri@sheribrown.ca

A little slow down this week, or is it!

In the real estate wrold kids are getting out of school which around this time of year causes a little slow down to the housing markets. The condo markets however for new product have been busier. First time buyers with no children have been buying up some of the new development product. Four sales alone in the SOHO project last week!

The newest Website intro to the Real Estate Radio Show!

Check out the new website Radio Real Estate