I just sold this House at 3110 207A Street, Langley, BC Brookswood.

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I just sold this Townhouse at 3440 Langford Avenue, Vancouver, BC Champlain Heights.

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Bank of Canada maintains overnight rate target at 1/2 per cent

The Bank of Canada is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.

Inflation is broadly in line with the Bank’s projection in its April Monetary Policy Report (MPR). Food prices continue to decline, mainly because of intense retail competition, pushing inflation temporarily lower. The Bank’s three measures of core inflation remain below two per cent and wage growth is still subdued, consistent with ongoing excess capacity in the economy.

The global economy continues to gain traction and recent developments reinforce the Bank’s view that growth will gradually strengthen and broaden over the projection horizon. As anticipated, growth in the United States during the first quarter was weak, reflecting mostly temporary factors. Recent data point to a rebound in the second quarter.  The uncertainties outlined in the April MPR continue to cloud the global and Canadian outlooks.

The Canadian economy’s adjustment to lower oil prices is largely complete and recent economic data have been encouraging, including indicators of business investment. Consumer spending and the housing sector continue to be robust on the back of an improving labour market, and these are becoming more broadly based across regions. Macroprudential and other policy measures, while contributing to more sustainable debt profiles, have yet to have a substantial cooling effect on housing markets. Meanwhile, export growth remains subdued, as anticipated in the April MPR, in the face of ongoing competitiveness challenges. The Bank’s monitoring of the economic data suggests that very strong growth in the first quarter will be followed by some moderation in the second quarter.

All things considered, Governing Council judges that the current degree of monetary stimulus is appropriate at present, and maintains the target for the overnight rate at 1/2 per cent.

Provided by the Bank of Canada. For full details click here: http://www.bankofcanada.ca/2017/05/fad-press-release-2017-05-24/

I just finished uploading this Townhouse for sale, #9 12778 66 Avenue, Surrey, BC

END UNIT - Hot price in Hathaway Village! Family-friendly, well maintained complex. This home shines! Recent upgrades inc. new kitchen counters & backsplash, paint, attractive laminate on main, Bosch dishwasher, stove, carpet in stairwell, & garage door opener. Bright, open kitchen opens to sundeck (west-facing) with room for patio set & BBQ, & has eating area & room for full table set. Formal dining area flexes to allow for larger living room or computer space. Living room features gas fireplace & lots of windows for natural light. 2 full baths up. Master bedroom boasts space for King-size bed & full en-suite with double sinks & over-size shower, & lots of closet space. Tandem garage with storage. Walk to school, and transit stops at street, with parks & shops nearby. Vacant, so flexible move-in dates. 2 pets ok, 5 rentals allowed (at max). Located near visitor parking, close to kid's play area. LOW STRATA FEE OF $244/MONTH. No assessments current. View anytime or come through OPEN HOUSE SUNDAY, MAY 7, 1pm-2:30pm.

Another solid month for Fraser Valley real estate

SURREY, BC – The Fraser Valley real estate market continued to show strength in April, reaching the highest sales level for the region in the past ten months.

The Fraser Valley Real Estate Board processed 2,230 sales of all property types on its Multiple Listing Service® (MLS®) in April, a decrease of 24.9 per cent compared to the 2,969 sales this time last year and a 0.8 per cent increase compared to the 2,213 sales in March 2017.

Of the 2,230 sales processed in April, 438 were townhouses and 567 were apartments.

Gopal Sahota, President of the Board, on the pace of the market in April, “Growing demand is catching up to the limited inventory we have available currently, and that’s creating a less-than-ideal environment for both buyers and sellers. People want to live in the Valley right now and we need more listings to support that.”

Total active inventory for the Fraser Valley last month was 4,913 listings, the lowest seen for an April in ten years. Inventory levels decreased 13.8 per cent when compared to April 2016, but did increase slightly by 2.2 per cent month-over-month.

The Board received 2,950 new listings in April, a 4 per cent decrease from March 2017, and a 25.2 per cent decrease compared to April 2016’s 3,942 incoming listings.

"Pricing continues to be impacted by the persisting demand for our region. However, there’s lots of opportunity throughout the Valley where homes – especially attached homes – remain affordable and available. Talk you your REALTOR® to see what’s out there, and might be right for you,” added Sahota.

For the Fraser Valley region, the average number of days to sell a single family detached home in April 2017 was 26 days, compared to 15 days in April of last year.

HPI® Benchmark Price Activity

• Single Family Detached: At $888,900, the Benchmark price for a single family detached home in the Valley increased 2.3 per cent compared to March 2017, and increased 14.5 per cent compared to April 2016.

• Townhomes: At $446,000 the Benchmark price for a townhome in the Fraser Valley increased 3.2 per cent compared to March 2017, and increased 26.2 per cent compared to April 2016.

• Apartments: At $285,400, the Benchmark price for apartments/condos in the Fraser Valley increased 3.1 per cent compared to March 2017, and increased 29.8 per cent compared to April 2016.

Provided by the Fraser Valley Real Estate Board. A full stats package can be found here: 
http://www.fvreb.bc.ca/statistics/Package201704.pdf

I just finished uploading this Townhouse for sale, 168 13742 67 Avenue, Surrey, BC

HYLAND CREEK! END-UNIT, quiet area of well-maintained complex, rear yard backs onto greenspace looking into trees, no neighbours behind. Gated enclosed patio. Updates include: bathroom, laminate flooring, carpet, paint, lighting, front-loading washer/dryer. Big, bright updated kitchen offers lots of cupboard and counter space. Room for full table set in kitchen PLUS dining area. Wood burning fireplace! Extra storage. Close to complex pool, school, and park. Rentals allowed but mostly homeowners occupy. 1 pet allowed. RV parking. Extra parking spot available at $15/mo. through Strata Co. Low maintenance fees - $158.92/month! Lots of money in Contingency fund. Extra clean and shows well.

Attached home sales thrive as overall inventory remains scarce

SURREY, BC – Propelled by significant activity in attached categories, March housing sales in the Fraser Valley reached their second highest point in ten years, trailing only last year’s extraordinary market levels.

The Fraser Valley Real Estate Board processed 2,213 sales of all property types on its Multiple Listing Service® (MLS®) in March, a decrease of 26.4 per cent compared to the 3,006 sales in March of last year, and a 58.5 per cent increase compared to the 1,396 sales in February 2017.

Of the 2,213 sales processed last month, 526 were townhouses and 638 were apartments, representing over half of the region’s total sales of all property types for the seventh straight month.

“Inventory levels aren’t where we’d like them to be, especially with demand picking up as we move deeper into the spring season," said Gopal Sahota, Board President. “However, that being said, it’s great to see more buyers turning to our bourgeoning apartment and townhome markets and taking some of the pressure off of detached homes.”

Last month the total active inventory for the Fraser Valley was 4,808 listings, the lowest level seen for a March in ten years. Active inventory increased by 3.5 per cent month-over-month, and decreased 12.3 per cent when compared to March 2016.

The Board received 3,072 new listings in March, a 41.5 per cent increase from February 2017, and a 24.3 per cent decrease compared to March 2016’s 4,057 new listings.

"We've never seen sales like this for our attached category homes. Whereas buyers may have had a more relaxed experience looking for a townhome a few years ago, things have certainly changed: competition is up, and listings are moving fast”, added Sahota.

“Talk to your REALTOR® to help you understand what’s happening in your community. The support of a local expert goes a long way when navigating a busy spring market here in the Valley.”

HPI® Benchmark Price Activity

• Single Family Detached: At $869,000, the Benchmark price for a single family detached home in the Valley increased 1.1 per cent compared to February 2017, and increased 17.3 per cent compared to March 2016.

• Townhomes: At $432,100 the Benchmark price for a townhome in the Fraser Valley increased 2.3 per cent compared to February 2017, and increased 25.5 per cent compared to March 2016.

• Apartments: At $276,900, the Benchmark price for apartments/condos in the Fraser Valley increased 3.7 per cent compared to February 2017, and increased 27.5 per cent compared to March 2016.

Provided by the Fraser Valley Real Estate Board.

Full Package: http://www.fvreb.bc.ca/statistics/Package201703.pdf

I just finished uploading this Townhouse for sale, 5117 203 Street, Langley, BC

LONGLEA ESTATES - Well-maintained, quiet, family complex in central location - walk to park, school, transit, and shops. Updated 3 bedroom, 2 bath home (full bath up & 2 piece on main) with newer flooring, paint, and laminate on the main floor. Kitchen features newer appliances, counters, cabinets, bright eating nook, with flex area for dining. Living room opens onto fenced private yard & unit backs onto green common area, not road. Master bedroom with 2 walk-in closets and 2nd & 3rd bedrooms look out to trees. Extra storage, covered parking PLUS 1 outside spot. Complex boasts walking trails, kid's play area, clubhouse, and visitor parking. Over $100,000 in contingency- strata fee = $282.61/mo. 2 pets, rentals allowed if you've lived there a year.

I just sold this Apartment at 301 15357 ROPER AVENUE, WHITE ROCK, BC .

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I just sold this House at 20366 37A Avenue, Langley, BC BROOKSWOOD.

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I just sold this House at 20248 36B Ave., Langley, BC BROOKSWOOD.

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Fraser Valley enjoys healthy market in February

SURREY, BC – The Fraser Valley housing market returned to more typical levels in February, with sales and new listing intake on-par with the 10-year average for the month.

The Fraser Valley Real Estate Board processed 1,396 sales of all property types on its Multiple Listing Service® (MLS®) in February, a decrease of 41.5 per cent compared to the record-breaking 2,387 sales in February of last year, and a 43 per cent increase compared to the 976 sales in January 2017. The 10-year average for February sales is currently 1,288 transactions.

Of the 1,396 sales processed last month, 369 were townhouses and 391 were apartments.

“This is the kind of February we like to see. Last year at this time, the incredible demand created a market that was difficult for consumers. Now, we have sales moving upward from the winter months at a typical, healthy pace and a growing inventory to support it," said Gopal Sahota, Board President.

The Board received 2,171 new listings in February, a 0.3 per cent decrease from January 2017, and a 33.9 per cent decrease compared to February 2016’s 3,283 new listings.

For February the total active inventory in the Fraser Valley finished at 4,645 available listings, increasing by 5.5 per cent month-over-month, and decreasing 9.4 per cent when compared to February 2016.

"While the pace of the market has returned to more normal levels, pricing is still heavily impacted by the activity and demand seen throughout 2016. Understandably, this can create a challenging environment for consumers. If you’re struggling finding the right home or buyer, talk to a REALTOR® who can help guide you towards success in the market.”

For the Fraser Valley region, the average number of days to sell a single family detached home in February 2017 was 38 days, compared to 21 days in February 2016.

HPI® Benchmark Price Activity

• Single Family Detached: At $859,300, the Benchmark price for a single family detached home in the Valley increased 0.4 per cent compared to January 2017, and increased 20.4 per cent compared to February 2016.

• Townhomes: At $422,400 the Benchmark price for a townhome in the Fraser Valley increased 0.5 per cent compared to January 2017, and increased 25.2 per cent compared to February 2016.

• Apartments: At $267,000, the Benchmark price for apartments/condos in the Fraser Valley increased 1.8 per cent compared to January 2017, and increased 26.5 per cent compared to February 2016.

Full package:
http://www.fvreb.bc.ca/statistics/Package201702.pdf