Welcome to this month's Local Real Estate Update from David Smith Homes,
Happy Monday, Everyone! Well, here we are, SPRING! Although interest rates have not yet pulled back we've been very busy and as a result we're keeping this update short and sweet. There's our usual SnapStats, a recent podcast with the 'spilling the tea' team, and a special offer from our sponsored team - Vancouver Football Club - for you! There's also a summary of our recent sales and purchases, with over $12m in real estate sold so far this year by the David Smith Homes Group, which is nearly half of all 2023; and we wrap up with a note from the Fraser Valley Real Estate Board.
The 'shorty' update is that sales are climbing, but being outpaced in some markets by inventory, which started this month after supply lagged for a while. As long as properties are well marketed and well priced they are still moving, it's a decent market to sell in. There are buying opportunities that we expect to pay off when rates do drop as well! As far as our own performance, our average client that buys and sells with us is on the exact same pace as last year, netting an additional $30,000 in their pockets above and below list price, while our listings continue to sell faster, 45% faster, than our purchases.
As always, we're happy to discuss your own scenario and how the market may influence your decision making. Don't hesitate to reach out.
Thank you again for this month's kind introductions to new clients from Owen S., Dawn S. Jen N, & others. We couldn't do it without you.
As always, if you've got questions about anything related to real estate, or know someone else that does, please don't hesitate to reach out. Even if it's not real estate related, we're always happy to hear from you.
Gratefully,David, Candy, & Amanda
P.s. Please mark us as 'Safe', 'Not Junk', 'Not Spam', if you'd like to continue receiving the newsletter. We use a lot of hyperlinks as we try to share information with you and sometimes filters don't like that.
Welcome to this month’s market update. We use the subscription program ‘SnapStats’ to help us identify what’s going on in the various submarkets we serve across the Lower Mainland and Fraser Valley.
The below infographic, maps, and video are the materials we’re allowed to share publicly, we have MUCH more that SnapStats allow us to share privately.
Please contact us for specific details on your home or the neighbourhood you’re interested in purchasing in.
We’re back with ‘Spilling The Tea,’ a real estate podcast with two of Royal LePage Wolstencroft’s agents, Kristy Masaro & Shelagh Machek, aaaannnnddddd this time my good friend, Jeremy Pue from White Cloud Productions.
As always, it’s a fun podcast, with two interviewers, an ‘expert’ (in this case, yours truly), and a member of the public (Jeremy), having a story-packed discussion on a variety of topics – this one focusing on media production and some of the amusing stories we’ve had over the years with seller’s ‘knick knacks.’
Below you’ll find the links to the episode, ‘Knick Knack Attack’:
Just yesterday was the season opener of Vancouver Football Club, our local soccer team that play at the Langley Events Centre in the Canadian Premier League.
As many of you know, we’re official partners of the club, and as part of that we’re engaged in a variety of ways with them. Minimally though, I wanted to ensure all of our friends and clients received an immediate benefit… 15% of tickets for YOU!
Please click on the image above and it will take you through to the ticket sale platform. From there feel free to add thepromo code: VFCPARTNER
I look forward to seeing many of you at the games! Stay tuned for more engagement with the club too, as there will be all kinds of opportunities for us together.
March home sales growth off last month’s pace, but supply still building in the Fraser Valley
SURREY, BC – Home buyers in the Fraser Valley have more choice heading into the spring market with inventory levels for March at the highest they’ve been in the past five years.
However, March sales were slower than anticipated with 1,395 transactions recorded on the Fraser Valley Real Estate Board’s Multiple Listings Service® (MLS®), a 13 per cent increase over February, but still 31 per cent below the 10-year average. Sales were the second lowest recorded for a March in a decade. Active listings were 6,197, up by 11 per cent over last month and by 37 per cent over March 2023.
This is not intended to solicit properties currently listed for sale or individuals currently under contract with a brokerage. All information was current on Apr 15, 2024.
