CHECK OUT THE LATEST SNAPSTATS FOR THE FRASER VALLEY FOR FEBRUARY 2020

Check out the latest SnapStats for the Fraser Valley for February 2020. Sales are up and there has been a slight increase in sales prices indicating that we are in a ‘Sellers Market’. We are once again seeing multiple offer situations not only in condos and townhomes but also single family homes. Inventory is low and there are a lot of buyers out there!!

Contact Garry Voigt today for more information 604 789 2140 or info@garryvoigt.com

 

This report data was captured on March 2, 2020 from the Fraser Valley Real Estate Board MLS® . Refer to our YTD reports for sustained periods of the Sales Ratio % . The accuracy and completeness of the information is not guaranteed. In providing this information SnapStats® or Garry Voigt do not assume any responsibility or liability. More info at snap-stats.com .


BANK OF CANADA REDUCES THE BENCHMARK INTEREST RATES BY 50 BASE POINTS

The Bank Of Canada today announced that they were reducing the benchmark interest rate from 1.75% to 1.25%.

The outbreak of Cornavirus is having a negative impact on the global economy and according to the Bank Of Canada “a material negative shock” to Canadian and global outlooks.

The slash in the interest rate, coupled with the relaxation in the street test could me more borrowing power for buyers. The market is already hot right now with many buyers once again finding themselves in multiple offer situations. Now is definitely a good time to list!

Contact Garry Voigt for more information 604 789 2140 or info@garryvoigt.com.

Click on the links below for more information.

Globe and Mail

 


B.C. SET TO RELAX THE RULES ON SECONDARY RESIDENCES ON ALR

In 2019 the BC Government bought in legislation to limit the size of residences on farm land to halt the building of so-called “Mega Mansions’ Another part of this legislation was the necessity for farmers to get permission from the Agricultural Land Commission to build secondary residences on their land.

The changes propose that secondary residences be allowed on ALR land but they cannot be more than 1000 sq ft. However, there would be more flexibility for use including being able to use the secondary home as rental accommodation. This is great news for farmers!

It is proposed that the maximum size of primary residences will remain at 5,400 but secondary residences will no longer have to be mobile or manufactured homes.

Click on the links below to read more.

VANCOUVER SUN

BC GOV NEWS

If you would like more information call Garry Voigt 604 789 2140 – Your Local Langley Realtor

 


INVENTORY IS LOW – IF YOU ARE THINKING OF LISTING – GET AHEAD OF THE COMPETITION AND DO IT NOW!

The end of 2019 showed no let up in Real Estate sales and the market was extremely strong! We are in what is considered a ‘Sellers Market’** with some homes going into multiple offers due to low inventory and strong demand from buyers.

**For example, the inventory for Langley Condos was down 30% from November to December 2019 but sale price was up 1%. Sales price per sq ft was up 8%.

Inventory for Langley detached homes was down 35% compared to November and sales prices remained unchanged.

Don’t wait for the ‘Spring Market’! In this sellers market, it pays to get ahead of the competition! If you are considering selling your home in Langley, Cloverdale or in the Fraser Valley, let the Garry Voigt Real Estate Team help.

Gall Garry Voigt today 604 789 2140 or email info@garryvoigt.com.

**© 2010-2020 SnapStats® Publishing Co. All rights reserved. No part of this publication may be reproduced, copied, posted on the internet or forwarded in any printed or electronic form at without written permission. This report data was captured on January 2, 2020 from the Fraser Valley Real Estate Board M LS® . Refer to our YTD reports for sustained periods of the Sales Ratio % . The accuracy and completeness of the information is not guaranteed. In providing this information SnapStats® or Garry Voigt do not assume any responsibility or liability. M ore info at snap-stats.com .


CHECK OUT THE DECEMBER STAPSTATS FOR THE FRASER VALLEY – METRO VANCOUVER AND GREATER VANCOUVER

Check out the SnapStats Markt Speedo Video of the Fraser Valley – December 2019.

We are still in a ‘Sellers Market’ – Sales were up over 50% compared to December 2018 and the median sales price has increased by 6% compared to December 2018.

If you are thinking of selling, don’t wait for the ‘Spring Market’, the time to sell is NOW!

FRASER VALLEY NOVEMBER 2019 

GREATER VANCOUVER NOVEMBER 2019

METRO VANCOUVER NOVEMBER 2019

This report data was captured on January 2,2020 from the Fraser Valley Real Estate Board M LS® .Refer to our YTD reports for sustained periods of the Sales Ratio % .The accuracy and completeness of the information is not guaranteed. In providing this information SnapStats® or Garry Voigt do not assume any responsibility or liability. More info at snap-stats.com


THINKING OF INVESTING IN THE CLOVERDALE OR LANGLEY CONDO MARKET? – WITH A NEW HOSPITAL COMING TO CLOVERDALE NOW IS THE TIME!!

The Government today announced that the plans for the new hospital in Cloverdale are now all systems go”. The new hospital is moving to the business planning phase where the project scope and budget will be decided.

The new state of the art facility will be located off of Highway 10, on 180th Street, behind Kwantlen Polytechnic University.

Now is a really great time to invest in the Cloverdale/Langley condo market!

Click Here For More