SHOWTIME Newsletter – March and April, 2012

SURREY, BC – There were 1,435 property sales processed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) in April, reflecting a 5 per cent decrease compared to the 1,516 sales in April of last year, and a slight increase over the 1,412 sales in March.

In April, the Board added 7 per cent more new listings compared to one year ago, 3,134 in contrast to 2,918 in April 2011, pushing the number of properties for sale in the Fraser Valley to 10,312, the highest level since July 2010.

Scott Olson, President of the Board, says “To put it in perspective, in the last decade, April 2012 ranked second lowest for sales during that month, while new listings came in at the third highest, meaning it’s a good time to be shopping for a home in the Fraser Valley because selection has only been this extensive twice.

“When you combine modest sales with normal, seasonal increases in listings it helps keep house prices in check, which is what we’re seeing. Benchmark prices for all property types remain essentially unchanged from March and for townhomes and apartments, they’re on par with what they were one year ago.”

The benchmark price or value of a ‘typical’ Fraser Valley detached home as determined by the MLS® Home Price Index (MLS®HPI), increased 5.3 per cent in one year. It went from $547,800 in April 2011 to $576,600 last month.

In April, the MLS®HPI benchmark price of a Fraser Valley townhouse was $318,400, an increase of 1.9 per cent compared to $312,600 in 2011. The benchmark price of an apartment increased by 0.8 per cent year -over-year: going from $204,100 in April of last year to $205,800 in April 2012.

Olson adds, “There are a lot of different dynamics to our market right now – all depending on location, property type and price point. For example, some areas are seeing increases in sales and decreases in prices; while others are experiencing the reverse, so if you are thinking of buying or selling ask your REALTOR® to show you how your property type is fairing in the market overall and more importantly in your community.

“In particular, ask about the ratio of sales compared to the number of active listings for your home type. This is one tool we use to help our clients understand if the market for their home is tilted in favour of buyers or sellers or is in balance.

For complete stats package from Fraser Valley Real Estate Board, please contact Debbie.

Renovated corner suite with unobstructed South facing view. Away from noise, peace and quiet 2 bedroom, 2 full bathroom with large den with custom closets and window that could easily be 3rd bedroom. Open concept living and dining. Large, private balcony. Full sized washer and dryer. Plenty of indoor storage space. Unit also includes additional storage locker and 2 parking stalls. Great location, close to schools, transit, Trout Lake and shopping.

Open House April 22 (Sun) 2- 4pm

• Type: Apartment
• Listing Price: $282,000
• Bed Room: 2+Den
• Bath Room: 2
• Square Footage: 995sqft

Please see the details at Web Flyer or Walk score.

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If you have any questions, please feel free to contact me.

Very well kept home in Renfrew area near Hastings Park, close to an elementary school, public transportation, and shopping. The home has two floors which could be used as two separate living areas or as one large home. The spacious main floor has a living room, kitchen, two bedrooms, full washroom and large eating area with a patio door leading to 14×6 covered sundeck offering a mountain view. The ground floor has a large living area and kitchen, two bedrooms, den and a full bath. The effective age of the home is 47 years and is in move in condition

Open House April 08 (Sun) 2- 4pm

• Type: House
• Listing Price: $738,000
• Bed Room: 4
• Bath Room: 2

Please see the details at Web Flyer and
Walk score.

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If you have any questions, please feel free to contact me.

I just sold this townhome unit in “Luther Place” in Mission.    This unit has two bedroom /one bathroom, over 1,000 sqft inside with private patio backing onto green belt.  Low strata fee of $150 inclues cable TV, too.  55+ complex that is very close to Mission Memorial Hospital is ideal for my retired client.

Situated on the NW corner is this suite with great views of Mountains & City. Spectrum Tower III built by Concord Pacific. The Suite-935 SF, largest floor plan in the building offers bright open flr plan, flr to ceiling windows, laminated flrs in entry, LR, DR & kitchen. Kitchen w/contemporary Euro-style appliances, in-suite storage and a den for your home office. The building offers excellent amenities which incl 80 ft indoor pool, steam room & sauna, fully equipped exercise facility, Hollywood style theatre, social lounge w/kitchen, meeting rm, & full service concierge.

• Type: Apartment
• Listing Price: $559,800
• Bed Room: 2
• Bath Room: 2

Please see the details at Web Flyer and
Walk score.

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If you have any questions, please feel free to contact me.