The Taylor Team's Real Estate Blog

A quick snapshot of the Fraser Valley's real estate market today covering the following areas: Surrey, South Surrey, North Delta, Cloverdale, Langley, Abbotsford and Mission. All single family home, townhome and condo data sourced from the FVREB MLS®.

For more information on the current state of the real estate market within the specific community and property type you are interested in please contact Natasha Taylor directly by calling or texting 778-316-4290 or by emailing ntaylor@sutton.com.

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Fraser Valley home sales rebound in July after lackluster June

A noticeable lift in home sales and slight decrease in new listings bolstered the Fraser Valley housing market in July.  

The Fraser Valley Real Estate Board processed 1,458 sales of all property types on its Multiple Listing Service® (MLS®) in July, a 11.6 per cent increase compared to sales in June 2019, and a 13 per cent increase compared to the 1,290 sales in July of last year.   

Chris Shields, President‐Elect of the Board, observed, “We’ve been expecting market improvement, but didn’t quite anticipate July’s momentum. We’ve gone from the worst June in almost 20 years to a July that’s only slightly below the 10‐year average. For both buyers and sellers, a return to an active,

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Both buyers and sellers taking a wait‐and‐see approach in the Fraser Valley

Last month’s property sales in the Fraser Valley were 29.3 per cent below the 10‐year sales average for June and were the second lowest total for the month since the year 2000. The number of new listings also decreased in June, coming in at 9.6 per cent below the 10‐year average for the number of listings received during that month.   

The Fraser Valley Real Estate Board processed 1,306 sales of all property types on its Multiple Listing Service® (MLS®) in June, a 13.9 per cent decrease compared to sales in May 2019, and a 10.1 per cent decrease compared to the 1,452 sales in June of last year.   

Darin Germyn, President of the Board, commented, “The Fraser Valley market

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With the high cost of real estate here in the Lower Mainland, it’s harder than ever for first time buyers to afford their first home. 

Banks and mortgage lenders require home buyers to put a minimum of 5% of the purchase price as a down payment on the home if the home is $500,000 or less. For homes more than $500,000 the required down payment is 5% on the first $500,000 and 10% on the remaining.

So, on a $500,000 purchase that amounts to $25,000 that is needed as a down payment.

On a $600,000 home, that is $35,000.

That’s a lot of money to save, especially when one considers rent and living expenses, on top of saving for their first home.

There are a variety of programs to help home buyers purchase their first home; and the new federal

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For more information on the current state of the real estate market within the specific community and property type you are interested in please contact Natasha Taylor directly by calling or texting 778-316-4290 or by emailing ntaylor@sutton.com.

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The numbers are in and all signs point to now being an excellent time to purchase real estate in Surrey, White Rock, Langley and the Vancouver area.

We’ve moved into a buyer’s market which means there is more homes for sale. This means buyers have more selection which can put them in the driver’s seat a little bit more.

In a seller’s market like we experienced for several years recently, homes were selling fast, there wasn’t a lot of choice and it meant buyers did not have as much power at the negotiating table. Now that buyers are more in control of the market, they have the opportunity to negotiate more on things that matter to them which could be price, timelines, deposits, and conditions of sale.

According to CMHC, the Vancouver area real

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A quick snapshot of the Fraser Valley's real estate market today covering the following areas: Surrey, South Surrey, North Delta, Cloverdale, Langley, Abbotsford and Mission. All single family home, townhome and condo data sourced from the FVREB MLS®. For more information on the current state of the real estate market within the specific community and property type you are interested in please contact Natasha Taylor directly by calling or texting 778-316-4290 or by emailing ntaylor@sutton.com.
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Slight uptick in Fraser Valley property sales in May attributable to single family detached

The increase in home sales in the Fraser Valley in May compared to April is thanks to renewed interest in single family detached homes. Although total market activity remained well below historical norms ‐ 18 per cent below the 10‐year average – the sale of detached homes increased by 14.9 per cent in one month.

The Fraser Valley Real Estate Board processed 1,517 sales of all property types on its Multiple Listing Service® (MLS®) in May, a 9.7 per cent increase compared to sales in April 2019, and a 13.7 per cent decrease compared to the 1,758 sales in May of last year.

In looking at the three main residential property types, detached homes garnered 41.2

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A quick snapshot of the Fraser Valley's real estate market today covering the following areas: Surrey, South Surrey, North Delta, Cloverdale, Langley, Abbotsford and Mission. All single family home, townhome and condo data sourced from the FVREB MLS®.

For more information on the current state of the real estate market within the specific community and property type you are interested in please contact Natasha Taylor directly by calling or texting 778-316-4290 or by emailing ntaylor@sutton.com.

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Slower than normal market still attracting buyers in the Fraser Valley

The Fraser Valley real estate market experienced its second slowest April in ten years and yet sales of certain property types and price ranges remain solid.   The Fraser Valley Real Estate Board processed 1,383 sales of all property types on its Multiple Listing Service® (MLS®) in April, a 13.3 per cent increase compared to sales in March 2019, and a 19 per cent decrease compared to the 1,708 sales in April of last year. Of the 1,383 total sales of residential and commercial combined, 489 were residential detached homes, 379 were townhouses, and 374 were apartments. 

Darin Germyn, President of the Board, said of the market: “Consumers may not have the purchasing power that they

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