Aloha Clients, Neighbours, Friends, Family and Colleagues!
Merry Christmas and Happy New Year to all of you and your loved ones. Some of you may already know Colin and I have just returned from a fantastic Hawaiian vacation!
We are sure many of you do not have Real Estate on your minds at this time of year however for us this is when we start all our preparations for the New Year Real Estate Market. We focus heavily on marketing plans, budgets, goal setting, economic and consumer Research to ensure we are providing our clients with the most current market prospectus. This information allows our clients to feel more confident when it comes to timing their move so the market is most aligned with their personal/investment goals.
As of the December 2nd Stats release from the Fraser Valley Board the market seems to of continued this flat yet stable trend for pricing that began back in July. For example – the benchmark price for detached and townhome properties in the Fraser Valley was down -.2% and up +.2% respectively. No significant contraction or expansion in pricing to been seen anywhere.
Sales have not been any more dramatic in this final quarter for the Fraser Valley - all product types saw a 7% increase (modest) since October but a 29% increase
in comparison with November 2009 (market stabilization).
This somewhat lengthy stabilizing in the market allows buyers to become more optimistic when it comes to making a major purchase and we are indeed in a “buyers market”.
This means sellers must be competitive with their pricing in order to sell their home as buyers will take their time, ensure they have seen all options and negotiate hard on the home they want.
This all being said we are very grateful that 2011 conditions point to a steady, balanced market at least for the first 2-3 quarters.
We could not be more excited to get to work for you, your friends and your family in 2011! If anyone you know is considering a move in the new year think of us first as we truly appreciate your support J
jenn & colin