Market

HAVE OUR AWARD WINNING TEAM WORKING FOR YOU!!

At the recent Royal LePage Wolstencroft Awards Gala we were thrilled and so proud to be presented with the award for Top 35 Realtors under the age of 35 in Canada, The Ruby Award and by far the biggest accolade of the evening was Garry being presented with the Bridget Houghton Professional Of The Year Award. This is named after a former broker in our office and is presented to the individual who displays a high level of professionalism within the office and in the market place. It was an absolute honour for Garry to be presented with this award! Along with the Royal Lepage Wolstencroft awards, we were pleased to again rank among the Top 1% of all Realtors In the Fraser Valley for the 2023 year! All thanks to the continued trust and support from you guys, we can’t thank you enough and look forward to assisting in the 2024 year!

JUST LISTED – 2 BED – 2 BATH TOWNHOUSE – CLAYTON HEIGHTS

⚡️JUST LISTED⚡️

📍 #51 – 19477 72A Ave, Clayton

🛏️ 2 Bed

🛁 2 Bath

📐 1,047 sq/ft

🏡 Built in 2013

💵 Low strata fee of $274.68

🚘 2 Parking

🐶 Pets Allowed

💰 Rentals Allowed

Welcome to Sun at 72 in Clayton. This 2 bed & den townhome has a bright & open floorplan. On the lower floor you will find a fence yard with artificial turf, great for kids and pets, a flex room & 3-piece bath, perfect for home office/playroom! The main floor is full of light with additional outside space on the sunny south facing balcony. The living room benefits from an electric fireplace, plenty of space for the family in the dining room. Kitchen boasts, modern cabinets, stainless appliances & eat up breakfast bar. Upstairs the Primary bedroom fits a king, has a cheater 5 pc En Suite, his & hers closets & a vaulted ceiling. Garage with space for storage & truck size driveway. It is all about location!! Walk to Maddaugh Elementary, a quick bus ride to Ecole Salish (& the new SkyTrain).

Offered at only $749,000

For more information, including a floorplan, visit https://garryvoigt.com/…/51-19477-72a-avenue-surrey-bc…/

JANUARY 2024 MARKET UPDATE

Market Update! The biggest change we have seen month over month is inventory! There has been a huge spike in new listings, which is great, however we are also seeing a huge spike in activity, especially in the entry level products. 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.

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.

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.

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.

If you are a buyer, we strongly recommend you get pre approved and start the process as we are starting to see activity pick up substantially on listings and small price increases. Reach out to us to get your buying process started!

BANK OF CANADA ANNOUNCES NO CHANGES TO INTEREST RATES

Bank Of Canada interest rate announcements in 2024.
Although we cannot predict what the Bank of Canada will do with interest rates this year, the one thing we do know is when the interest rate announcements will be in 2024, starting next week on January 24th.

Announcement dates.
• Wednesday, January 24
• Wednesday, March 6
• Wednesday, April 10
• Wednesday, June 5
• Wednesday, July 24
• Wednesday, September 4
• Wednesday, October 23
• Wednesday, December 11

The Bank of Canada, which is responsible for setting interest rates in Canada, considers a variety of economic factors when making its decisions. These include inflation, employment rates, GDP growth, and international trade.
If inflation is high, the Bank of Canada may raise interest rates to help control it. Conversely, if inflation is low, the Bank of Canada may lower interest rates to encourage spending and stimulate economic growth.
Employment rates and GDP growth are also key factors that can influence interest rates. International trade can also play a role in interest rate decisions

Overall, it is impossible to predict exactly what Canadian interest rates will be in 2024. However, by keeping an eye on economic indicators and trends, we can make educated guesses on what may happen.

For more information on your local market reach out to Garry – 604 789 2140 info@garryvoigt.com

JUST SOLD – CUTE 3 BED 2 BATH RANCHER IN CENTRAL ALDERGROVE – SOLD IN 2 WEEKS!

🥂JUST SOLD!🥂

🎉 BIG congratulations is in order to our friends and past clients on the quick sale of their family home in Aldergrove! Thank you for giving us the opportunity to a part of the big milestone and trusting us to facilitate the process!

📍26953 28A Avenue – Aldergrove

🛌 3 bed

🛀 1.5 bath

🚗 4 parking

📐 1407 sq ft

🌳 8496 sq ft lot

🏊 Walk to parks and pool

Cute 3-bedroom rancher perfect for downsizing or young families. Situated on a large 8496 sq ft fully fenced lot, it is perfect for kids & pets. Living room with gas fireplace, cozy farmhouse style kitchen & dining room & bonus large pantry & 3 great size bedrooms, main fits a king. A few steps down you will find an additional family room. Upgrades incl, Fresh exterior paint, new insulation throughout, new front steps, refinished hardwood, brand new stainless fridge freezer & new furnace. The back yard is a year-round entertainers dream with great size, partially covered patio. New fencing, including the entire front lot. Tons of parking, space for an RV. The location cannot be beat, 10 minutes walk to elementary, middle & High school. Walk to skate & Athletic Park & CO-OP outdoor pool!

CLICK HERE for full listing info

THERE ARE 8 INTEREST RATE ANNOUNCEMENTS BY THE BANK OF CANADA IN 2024

Bank Of Canada interest rate announcements in 2024.

Although we cannot predict what the Bank of Canada will do with interest rates this year, the one thing we do know is when the interest rate announcements will be in 2024, starting next week on January 24th.

  • Wednesday, January 24
  • Wednesday, March 6
  • Wednesday, April 10
  • Wednesday, June 5
  • Wednesday, July 24
  • Wednesday, September 4
  • Wednesday, October 23
  • Wednesday, December 11

The Bank of Canada, which is responsible for setting interest rates in Canada, considers a variety of economic factors when making its decisions. These include inflation, employment rates, GDP growth, and international trade.

If inflation is high, the Bank of Canada may raise interest rates to help control it. Alternatively, if inflation is low, the Bank of Canada may lower interest rates to encourage spending and stimulate economic growth.

Overall, it is impossible to predict exactly what Canadian interest rates will be in 2024. However, by keeping an eye on economic indicators and trends, we can try to make educated guesses on what may happen.

CHECK YOUR MAIL FOR YOUR 2024 PROPERTY ASSESSMENT.

It’s that time of year again! Property assessments have been sent out for 2024 and it’s important to check your mailbox for yours. This assessment determines the value of your property and could affect your property taxes for the year. Make sure to review it carefully and contact your local government if you have any questions or concerns. If you want to appeal your assessment, you have until January 31st to do so.

It’s also a good idea to keep a copy of your assessment for your records. Don’t forget to check your mailbox and stay informed about your property’s value.

For more information on how your property is assessed and the difference between market and assessed value we have a very informative video in our YouTube series packed with information. CLICK HERE to watch the video.

JUST SOLD – 2 BED – 2 BATH WEST VANCOUVER CONDO WITH STUNNING VIEWS!

These stunning 180 degree views of the Capliano River, Downtown Vancouver and Stanley didn’t last long on the market!

Congratulations to our repeat client SB on the sale of her family’s West Vancouver condo! Thank you for giving us the opportunity to market and sell this incredible unit.

Thanks to our world class marketing team, we were able to capture the crisp, clear and incredible views this unit had to offer which helped us achieve multiple offers and sell for over asking price! 🎉

📍 #22A 338 Taylor Way

🛌 2 bed

🛀 2 bath

🚗 2 parking

📐 1250 sq ft

🏊 Great amenities

🗻 Stunning views

💸 Offered at $1,099,800

Absolute STUNNING 180 degree views from the 22nd floor of Capilano River, Downtown Vancouver, Stanley Park and Lions Gate Bridge! This luxurious 2 bedroom, 2 bathroom suite with solarium in West Royal features 2 parking and oversized patio in a convenient location, close to the seawall, Ambleside Beach, and across the street from Park Royal Shopping Centre. This open floor plan features tons of windows with incredible views from every window. The West Royal offers spectacular building amenities including a large fitness centre, swimming pool, Jacuzzi, garden and entertainment room. This is a warm home where you can enjoy a luxurious and comfortable life. Bonus OVERSIZED 11×7 storage locker. Bring your ideas and make this unit yours!

Have you been considering selling? Reach out to us today for a no obligation home evaluation! Have our world class marketing working for you, to get you the most for your investment!