May 2020 Newsletter
Andy Schildhorn • May 19, 2020
Hello and Welcome to our May Newsletter.
It’s been about 6 weeks of self-isolation. How are you doing? Together as a community we are all doing our part and starting to see results. Our economy is still on hold and we wonder what is in store for us. I am hearing we will have a quick rebound and on the other hand a deep collapse. I think you will find our Market update
well balanced and thought out.
Langley Infographic
is telling us pricing is unticking with sales volume down over 50%
For quite a while now I wanted to tell you about Langley Volunteers. If you are looking to help out, this is the place to go. They have some new tech which matches volunteer interests and skills to the right organization.
Rita Cousins mortgage broker talks about the need for an annual mortgage review. Always important. It's like a tuneup.
Irina Bartnik updates us about property tax deferment
if you are over 55 or have children this maybe for you.
In the News: Our numbers are good or should I say our lack of numbers. In the next week we can have social gatherings of up to 6 people. Some businesses will open. Please read for details.
Saying this we should start to see Buyers entering back into the market place. The market was strong before Covid 19 hit. I can see a bit of a surge in sales coming. There are not enough homes for sale. As always a plan is needed. Let’s talk and discuss.
So that’s it for this month. Stay Safe, Stay Home and Stay Sane.
SURREY, BC – Market conditions are ideal for Fraser Valley home buyers this summer, but the persistent gap between buyers’ and sellers’ price expectations continues to suppress sales. The Fraser Valley Real Estate Board recorded 1,190 sales on its Multiple Listing Service® (MLS®) in July, down half a per cent from June and down three per cent year-over-year. July sales were 23 per cent below the 10-year average. The supply of homes for sale dipped slightly in July, down two per cent from June to 10,650, nearly 50 per cent above the 10-year seasonal average. New listings declined five per cent over June to 3,453. The Fraser Valley remains in a buyer’s market with an overall sales-to-active listings ratio of 11 per cent; the market is considered balanced when the ratio is between 12 per cent and 20 per cent.
I'm going to be honest with you, I almost forgot to write this email this week. Got caught up with Fort Langley Jazz Festival. and almost ran out of time. Barely got this in under the wire. I think its a great edition of the newsletter. Performance under pressure! haha LAPS is here. 📣 "Success is not in what you have, but who you are." - Bo Bennett
The Township of Langley Traffic Cameras for up to date traffic information. Click here
