Andy Talks Real Estate & More 🏡📅 - August 9th, 2024

Andy Schildhorn • August 16, 2024

📞 Book a call/meeting at a time convenient to you - https://calendly.com/andyschildhorn

 

Join me as I discuss the latest real estate trends in the Fraser Valley, the unique challenges faced by the sandwich generation, and why Langley continues to stand out in the market.

 

Here's a quick overview: 

 

📉 Market Overview: 

  • Sales Decline: July was a quiet month with 1,230 sales, down 7% from June and 26% below the 10-year seasonal average. 
  • Rising Inventory: Inventory levels reached a 10-year high with 8,731 active listings, up 41% from July 2023.
  • Balanced Market: The sales-to-active listings ratio is 14%, indicating balanced market conditions, though some areas are experiencing a buyer’s market.


🤔 What This Means for You: 

  • Downsizing & Helping Family: Many are navigating the complexities of downsizing and helping their children enter the market.
  • Market Position: Detached homes are entering a buyer's market, while townhomes remain in demand due to affordability.
  • Langley's Strength: Langley is bucking the trend, maintaining a balanced market and strong appeal due to its central location, amenities, and good governance.


🏡 Key Numbers: 

  • HPI Benchmark Prices: Detached homes: $1,259,600, Townhomes: $848,800, Condominiums: $551,000.
  • Langley Specifics: Detached homes slightly down to $1,637,500, townhomes slightly up to $872,600, and condos steady around $618,000.


Dealing with real estate challenges, whether it’s helping your children enter the market or managing your own downsizing, I’m here to help. With extensive experience, I can guide you through these decisions.

 

Full statistical information can be found here

 

What are your thoughts on the current market trends?

 

Share your insights in the comments below!

 

📅https://calendly.com/andyschildhorn

📞 778.835.8957

📧 andy@andytherealtor.com

🌐 www.AndytheRealtor.com

 

📺 Subscribe for more real estate advice and tips! Your Langley and Fraser Valley Realtor.

 

🏡 Thanks for watching, and see you next week! 👋


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The Township of Langley Traffic Cameras for up to date traffic information. Click here
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