March 2023 Newsletter
Andy Schildhorn • March 17, 2023
HELLO EVERYONE AND WELCOME TO OUR MARCH 2023 NEWSLETTER!
The Bank of Canada decided to keep its trend-setting interest rate at 4.5 percent,
and for the first time in a year, it didn't go up.
Our featured listing, 8825 McAllister,
is in the heart of Fort Langley on a kid-friendly street. It's just a short walk to the Elementary School and downtown Fort Langley, where community is a lifestyle.
Don't forget to join us on Facebook Live Sessions
to get a glimpse of our upcoming numbers. Our next session is on April 14th at 11:00 am, and in case you missed it, click here to check out last week's session.
I want to take this moment to thank everyone we represented this past year.
The market was tough, but together, we had some fantastic successes.
Our Langley Market Report reveals that detached home prices have decreased by 20%
from last year, with listings increasing by 0.05%, and sales volume down by 43.9% year over year. The same applies to condos and townhomes in the Langley region, with prices down about 22% from the market high in March.
Spring is almost here, and Beatniks Bistro in Fort Langley has resumed its Live Music Thursdays. It's the perfect way to spend a relaxing evening.
Rita Cousins, our trusted Mortgage Broker, has provided a mortgage application checklist to help you prepare for pre-approval. It's essential before writing an offer.
Prices have dropped considerably in BC, and here's an overview of our province's pricing year over year.
That's a wrap for this month. If you want to chat about Real Estate, let my 25-plus years of experience guide you through these shifting market conditions. Text, Email, or Call, and we'll arrange a meeting to discuss your plans.
Thanks for stopping by, have an awesome day, and I can't wait to meet you soon.aragraph
Love to see you come out this Sunday. π View the full listing
π‘ Fraser Valley home prices back to pandemic-era levels under the weight of economic headwinds and sustained inventory π SURREY, BC – Home prices in the Fraser Valley fell for the tenth consecutive month in January, pushing the Benchmark price below $900,000 for the first time since spring 2021. The Benchmark price for a typical home in the Fraser Valley dropped one per cent in January to $897,200, down 6.9 per cent year-over-year. The continued softening of prices wasn’t enough to get buyers off the sidelines, as the Fraser Valley Real Estate Board recorded 619 sales on its Multiple Listing Service® (MLS®) in January, a 33 per cent decrease from December, and 24 per cent below sales from the same month last year. New listings increased 128 per cent in January to 3,078, reflecting the typical seasonal patterns; however, activity remained 10 per cent below last year’s levels.
Who needs a hammock? Check out LAPS for adoptables π β π£"Do what is right, not what is easy.” - Roy T. Bennett
