August 2022 Newsletter
Andy Schildhorn • August 22, 2022
HELLO EVERYONE AND WELCOME TO OUR AUGUST NEWSLETTER!
Uncharted territory:
What does rising interest rates mean for home-buyers. It is a whole new market out thereLooking for a roof top patio in the heart of Willoughby with a great walk score? Check out 12 – 20852 78B Ave.
This home is immaculate
In this month’s Facebook Live we went into depth on our changing market. Took a look at our market statistics and discussed how affordability is changing.
Michael and Pearl Berry were very interesting clients who brought a whole new perspective on how to sell a home. I appreciated their insights. All the best to you both.
Our Langley Market Report is showing detached home prices are up 16.2% from last year with listings down by 123.6% and sales volume down by 52.0% year over year. The same could be said for Condos and Townhomes in the Langley area. I should add pricing is down by about 8% from last month July of this year.
The Fort Gallery is presenting a summer art auction fundraiser. This local Fort Langley Gallery, a mainstay in the Village, supports local artists with public outreach and education.
Rita Cousins Mortgage Broker explains some of the terminology when buying a home.
CMHC has come out with a report that government fees impact the cost of new home construction by up to 24%
Well, that’s it for this month. Want to talk Real Estate? Let my 25 plus years help guide you through these changing market conditions? Text, Email or Call and we can set up a time to discuss your plans.
Thanks for dropping by, have a great day and I look forward to meeting you soon.
Langley Township will allow buildings between six and 12 storeys tall in pre-zoned areas along parts of 200 Street, council has decided at its Monday, Nov. 3 meeting. π More Details Here
Fraser Valley home prices have now fallen for seven straight months — here’s what it means for buyers and sellers. π October 2025 Fraser Valley Market Overview Fraser Valley home prices have now fallen for seven straight months — the longest correction since 2019. According to the Fraser Valley Real Estate Board’s October report: π Sales: 1,123 homes sold (+17% MoM / –16% YoY) π Active Listings: 10,121 (+15% YoY) π Sales-to-Active Ratio: 11% → firmly a buyer’s market π° Benchmark Prices π‘ Detached: $1,411,900 (–0.6% MoM / –5.1% YoY) ποΈ Townhomes: $786,000 (–1.2% MoM / –5.6% YoY) π’ Condos: $506,400 (–0.8% MoM / –6.8% YoY) π Composite: $919,900 (–0.7% MoM / –5.3% YoY) πΉ Interest Rates & Economy The Bank of Canada rate holds at 2.25%. Inflation is easing, but tariffs and a slower global economy add uncertainty. Major banks remain split — some expect stability through 2026, others forecast small rate cuts next year. π¬ Real Client Story One of my recent clients moved from Vancouver Island to Langley to be closer to family — proof that even in a slower market, the right timing and strategy still create success. π Read her review: π https://rankmyagent.com/agent/reviews/171562 π§ What This Means for You If you’re buying, inventory is strong and competition is light. If you’re selling, pricing for today’s reality — not last year’s memory — is key. After seven months of price declines, the market is recalibrating — not crashing. With realistic pricing and a clear plan, opportunities are still out there.
This year, as they have for years, thousands are again expected to attend Remembrance Day in Fort Langley and honour the memory of the community’s war dead at the largest memorial service in the Langley area. π More Details Here
