Andy Talks Real Estate & More π‘π - August 9th, 2024
π 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:
π 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.
π€ 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.
π‘ 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.
ο»ΏDealing 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!
π https://calendly.com/andyschildhorn
π 778.835.8957
πΊ Subscribe for more real estate advice and tips! Your Langley and Fraser Valley Realtor.
π‘ Thanks for watching, and see you next week! π
