According to the recent report from the FVREB, the local market experienced the strongest August since 2011.

More than 1,300 sales were processed in August, a 3% increase over the same month last year.

According to Ray Werger, president of the Board, “As usual, we saw a typical summer slowdown in August compared to July, however like every month so far in 2014, August sales were higher than last year. It’s the continuation of the story we’ve seen all year; a return to a normal, balanced market.”

Here are a few of the report highlights:

- Single family homes continue to outpace sales of townhouses and condos

- Many first time home buyers are skipping condos as a first- time home purchase and proceeding directly to townhomes and other larger properties

- The benchmark price for detached homes in August was $569,800; for townhouses it was $298,200

To view the full report, click here.

Are you a first time home buyer? What do you hope for as your first home purchase? Or are you a seasoned home buyer looking to move up the property ladder? I can help you find the area that's right for you and get you a home you'll be excited about. Contact me today!

If you're interested in certain areas or are thinking about selling, here's the August Snap Stats from the Fraser Valley (I also have information for Abbotsford & Mission if you're interested).

These offer great insight into what's selling, where, and at what price points. If you have any questions, feel free to contact me and I'll be happy to help you get the information you need.

In a recent report by the REBGV, population growth has been forecast for the coming decades. So what does this mean for the real estate market?

By 2041 the Lower Mainland's population is estimated to have grown to 3.4 million, with annual growth of 30,000 new residents each year. Within Metro Vancouver alone an estimated 574,000 housing units will be required. The majority of this population growth will occur in established urban areas, meaning an increased population density in many neighborhoods. This will come in the form of "secondary units and accessory detached housing, ground oriented duplex/ multi- unit structures, row housing, and apartment developments".

Consider where you currently live now. How will this affect the quality of living & infrastructure? Are there investment opportunities for you and your family?

To read the full article by the REBGV click here.

If you have questions about how increased population density can affect property values, present investment opportunities, or impact areas you are interested in moving to, contact me and I will be happy to answer any questions you have.

Image Source: Daily Mail

There's been a lot of talk lately in the news and media about the rising cost of real estate in the Vancouver & surrounding markets. (For an informative recent report, check out this post with info from the BCREA). This, combined with low mortgage rates makes it an ideal time to buy.

Before the anticipated increase in home prices, make the most of this opporunity and get the best value for your money. Contact me today to find out more about your local market, what's selling, what's not, and everything else you need to know. I'm happy to answer all your questions and help you find your next home.

Image Source: LIBN

Have you heard of the MLS HPI (Home Price Index)? It's a great tool that measures house price trends in the Greater Vancouver area and other major markets in Canada. 

Developed by 5 of Canada's largest real estat boards (Greater Vancouver, Fraser Valley, Calgary, Toronto, and Montreal), it measures the change in price of housing features.

Other HPI facts:

- It measures pure price changee (inflation or deflation)

- It measures the price of a 'typical' property

- It uses lot size, age, number of rooms, etc to provide accurate information

- Simply enter the area you are interested in, the type of property (residential, detached, etc), and date

to determine the HPI for the property type in the area you are interested in

Click here to check out the HPI.

If you are trying to figure out what you can afford in the areas you love, or want to know what your home is worth, get in touch and I'll be happy to answer your questions!

Image Sources:

MLS HPI Logo- FVREB

Bedroom- Pinterest

I recently came across this interesting article in the July/ August 2014 issue of  Westcoast Families magazine.

How does the area and property type you're interested in stack up against the rest of the Lower Mainland?

For some more market info, take a look at this article from the FVREB for June.

Want to see what your budget can buy in person? Contact me to schedule a meeting or to book a viewing of a property you're interested in.

Image Source: Westcoast Families