September 2022 Newsletter
Andy Schildhorn • September 26, 2022
HELLO EVERYONE AND WELCOME TO OUR SEPTEMBER NEWSLETTER!
We are seeing a 51 percent decrease in sales compared with this time last year. Homebuyers and sellers are exercising caution with the rising interest rates.
Looking for a rooftop patio in the heart of Willoughby with a great walk score? Check out 12 – 20852 78B Ave. This home is immaculate and with a new price.
This month’s Facebook Live dives deep into our changing markets. We took a detailed look at market statistics and discussed how affordability changes.
Jen and Jeremy thought it was time to make a lifestyle change, and they sure did. All the best to you both, and enjoy island living
Our Langley Market Report is showing detached home prices are up 9.1% from last year, with listings down by 157.7% and sales volume down by 47.2% year over year. The same could be said for Condos and Townhomes in the Langley area. I should add pricing is down by about 4.6% from last month, July of this year and down 10.5% from April’s peak in the market.
The Kwantlen First Nation is putting on the 1st Annual Salmon and Cranberry Harvest Celebration. It is held at McMillan Island Park on October 1st from 10:00am to 3:00pm. I invite everyone to attend and will see you there.
Rita Cousins Mortgage Broker talks about timing a retirement, and in this declining market, perhaps a reverse mortgage is the way to go.
This fall season is shaping up to be an entertaining one. Here are 31 things to do, read and watch in the Vancouver area.
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.
We are seeing a 51 percent decrease in sales compared with this time last year. Homebuyers and sellers are exercising caution with the rising interest rates.
Looking for a rooftop patio in the heart of Willoughby with a great walk score? Check out 12 – 20852 78B Ave. This home is immaculate and with a new price.
This month’s Facebook Live dives deep into our changing markets. We took a detailed look at market statistics and discussed how affordability changes.
Jen and Jeremy thought it was time to make a lifestyle change, and they sure did. All the best to you both, and enjoy island living
Our Langley Market Report is showing detached home prices are up 9.1% from last year, with listings down by 157.7% and sales volume down by 47.2% year over year. The same could be said for Condos and Townhomes in the Langley area. I should add pricing is down by about 4.6% from last month, July of this year and down 10.5% from April’s peak in the market.
The Kwantlen First Nation is putting on the 1st Annual Salmon and Cranberry Harvest Celebration. It is held at McMillan Island Park on October 1st from 10:00am to 3:00pm. I invite everyone to attend and will see you there.
Rita Cousins Mortgage Broker talks about timing a retirement, and in this declining market, perhaps a reverse mortgage is the way to go.
This fall season is shaping up to be an entertaining one. Here are 31 things to do, read and watch in the Vancouver area.
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.
Developers in British Columbia are offering steep discounts as new inventory keeps stacking up, fuelling competition for buyers who can afford to shop around. In Kelowna, Mission Group had a one-day flash sale on Saturday on all vacant inventory at its Alma on Abbott development, a boutique lakefront community located in Pandosy Village that was completed in October. Mission Group president Luke Turri said half of Alma’s 87 units – ranging from studios to three-bedrooms – need to be sold. With the discount, one- and two-bedroom units will be roughly $425,000 to $505,000. “We realize that we have to meet the market where it’s at,” said Turri, who’s been in the field for 20 years. He said today’s buyers are highly informed and cautious. “Buyers are seeing price corrections, incentive programs, construction delays, interest rates swinging, and they need certainty, they need credibility, and so for us the focus is, how do we create that momentum?” Turri said Alma had a successful pre-sale launch, and Mission Group had always anticipated having available inventory after completion due to its target audience of end users, rather than investors. In its latest monthly report, the Association of Interior Realtors said the market maintained a “gradual and steady pace” in October. Still, inventory levels are elevated compared to historical norms. Interior Realtors reported 8,938 active listings at the end of last month, comparable to fall 2024 levels, but well above the 10-year average. 👉 Read the Article Here
Holiday magic is happening all across the Fraser Valley this season. From tree lighting ceremonies and festive markets to concerts, parades, and family-friendly celebrations, there's no shortage of ways to embrace the spirit of the season. 👉 Guide Here
The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. Major economies around the world continue to show resilience to US trade protectionism, but uncertainty is still high. In the United States, economic growth is being supported by strong consumption and a surge in AI investment. The US government shutdown caused volatility in quarterly growth and delayed the release of some key economic data. Tariffs are causing some upward pressure on US inflation. In the euro area, economic growth has been stronger than expected, with the services sector showing particular resilience. In China, soft domestic demand, including more weakness in the housing market, is weighing on growth. Global financial conditions, oil prices, and the Canadian dollar are all roughly unchanged since the Bank’s October Monetary Policy Report (MPR). 👉 Read the Article Here 
