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Overview of Real Estate in Fraser Valley 2018.

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After three consecutive busy years of Real estate  sales surpassing 20,000 units annually, 2018 saw the Fraser Valley real estate market return to more Typical level for both sales and inventory. New data released today by fraser valley board shows slow down in sales in 2018 lowest since 2013 and most of realtors in bc acknowledge this. Sales data by Fraser Valley Board The Board’s Multiple Listing Service® (MLS®) processed 15,586 sales in 2018, a 30.2 per cent decrease compared to 2017’s 22,338 sales and the lowest total sales for the Fraser Valley since 2013.  For inventory, a total of 32,058 new listings were received by the Board’s MLS® system in 2018. This was the fourth highest total for new inventory in the Board’s history. Of the total transactions that took place in 2018, 3,866 were townhouses and 4,296 were apartments. Each of those property types saw a significant decrease in sales compared to 2017, with total townhouse sales dropping 25.6 per cent year-ove...
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Dont Expect Increase In Interest Rates By Bank Of Canada In 2019

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As I wrote a Blog couple days ago about the Real Estate Market Surrey Bc In 2019 about having one interest rate hike in 2019 as economy is looming, cause the price of Canadian oil known as Western Canada Select briefly dipped below $15 a barrel last fall. Today CBC wrote an article Expecting higher rates in 2019? Don't bet on it just yet . It`s a must read for all to see what`s happening in 2019 with economy and interest rate hike`s. As of today it will be hard to predict which way Bank of Canada is heading but number`s don't lie and looks like with economy slowing down, there might be no interest rate hike in 2019 if not a cut in interest rate. Some economist were still predicting interest rate hikes in 2019 some weeks ago, But that scenario is changing which might move into a interest rate cut predicted by some economists. Some statements made are as follow :- "At present, there is not a single hike priced for 2019." Say`s Pollick. By Pollick's math, there...
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Fraser Valley Homes Have Biggest Gains in Assessment Value in 2019

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The Bc assessment authority starts mailing property assessments to owners in January, based on market values as of July 1 of previous year, in 2019 Assessment values in Metro Vancouver  show declining values for the first time in about a decade but gains in assessment values in Fraser Valley. In  Fraser valley house values  average range is negative 10 per cent to plus 15 per cent compared to Metro Vancouver which is opposite negative 15 per cent to plus 10 per cent. According to the new numbers from Bc Assessment authority, The city of Vancouver, detached homes dropped an average of four per cent in value, while condo values rose six per cent as compared to Surrey, detached homes gained an average four per cent rise and 14 per cent for condos. City of Langley condo owners will see a 27 per cent average jump in valuation. Abbotsford, condo owners will see their assessed values jump on average 28 per cent while detached homeowners will see...
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