Hi there clients, neighbours, friends and family!
Happy back to school! Colin and I love the fall as its always a great time to check in on your goals, thoughts, inspirations and ambitions.
So far this year we have been right on track to surpass our productivity from last year. Jenn & Colin Real Estate has grown steadily in both brand recognition and productivity since we started 7 years ago. We have made many personal friends and professional contacts in our immediate community and beyond and for that we THANK YOU … as always for your support.
In August, sales in the Fraser Valley ranked the third lowest for the month in the last decade – after 2008 and 2010. Property sales in August represented a 20 per cent decrease compared to sales numbers from August of last year and 23 per cent fewer than in July following a downward trend in sales that began back in May/June.
Definitely a slow summer but according to Scott Olson, FVREB president it is “too soon to tell if it’s a sign of a longer-term trend or if buyers and sellers in the Fraser Valley finally enjoyed a bit of summer.”
Colin and I tend to think optimistically and as many of our current clients know we are hoping for an increase in sales activity over September and October … no matter how modest it may be … enough to help lower the current high levels of inventory … especially … townhome product in the Sullivan / Panorama / Cloverdale area.
Our economy currently remains fundamentally strong with stable mortgage and employment rates; and Surrey in particular has some of the fastest growing communities in the Lower Mainland.
Overall, we’re seeing prices stay resilient, however in almost half of Fraser Valley communities, the three-month trend is showing a decrease in prices for both detached and attached homes. These contractions tend to be location specific, style of home specific and depend on the saturation level (supply) in the area and/or may be a correction resulting from the hyper-inflation of some areas over the last 18 or so months (ie: White Rock).
We promise to watch trends and stats closely over the final quarter of the year and if the time comes where you and your family are considering a move it’s never too early to contact us to discuss a game plan that will suit your needs best.
Don’t forget to “LIKE” us on http://www.facebook.com/jennandcolinrealestate for more frequent market updates and to view our new listings in the neighbourhood!
Jenn & Colin