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March 2024 Issue
604-530-0231
Leffers and Rook Real Estate
March Market Insider

Hi Everyone!

Spring is almost here, and it looks like we are getting some great weather this weekend! We hope you can get out and enjoy the sun!

As we head into the Spring market, we are seeing a continued trend of increased activity, both in terms of sales and listings. February saw a 31% increase in property sales compared to January (from 893 to 1,171), while new listings increased by 23% (from 2,057 in January to 2,522 in February). This has resulted in a 10% increase in inventory. Based on what we are seeing in the first two weeks of March, we expect both sales and new listings to increase once again, which is not a big surprise given the time of year.

Taking a look at current market conditions, we are finding that while Buyers in the current market are remaining price-sensitive, there is plenty of competition for well priced listings. This trend is particularly pronounced in the market for attached homes (townhomes and condos) as well as entry-level detached homes with suites. These types of properties that are priced competitively are often attracting multiple offers. Therefore, it's crucial for sellers to work closely with their real estate agents to accurately price their homes in line with current market conditions. Proper pricing can significantly impact the speed of sale and final sale price, while pricing your property too high will inevitably result in low traffic and sustained time on the market.

While interest rates have remained relatively high yet stable for several months, it is looking like they will likely decrease in the middle of this year. This potential decrease in interest rates should further accelerate the market, driving more buyers into the market and increasing purchasing power. However, even in the meantime, we still anticipate the market to trend upwards due to sustained demand as a result of so many Buyers entering the market after waiting on the sidelines over the past 6-8 months.

For First-time Homebuyers, investors, or people looking to upsize, we encourage you to start the process sooner rather than waiting, as the market looks to be going up from here. For those looking to downsize, it likely won't hurt to take your time because as the market prices increase as we expect, the price gap between your home and a cheaper home should become larger as time goes on.

As always, if you have any questions about the current market conditions or are considering buying or selling a property, feel free to reach out to us, we would love to hear from you!

Leffers and Rook Real Estate
Leffers and Rook Real Estate
778-360-2121
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Royal LePage Wolstencroft
604-530-0231
leffersandrook.com

Why are house prices still high despite the high rates?

Fraser Valley Average Sales Price – All property types (Last 5 years)

The Art of Spring Cleaning: Refreshing Your Space for a Renewed Outlook

Spring is synonymous with renewal and rejuvenation, making it the perfect time to embark on a thorough cleaning spree to freshen up your living space. As the days grow longer and temperatures rise, the annual tradition of spring cleaning becomes a revitalizing ritual for many. This article explores the significance of spring cleaning and offers practical tips to make the process efficient and enjoyable.

1. Clearing Clutter: Begin your spring cleaning journey by decluttering your living space. Tackle one room at a time, sorting through belongings and deciding what to keep, donate, or discard. A clutter-free environment not only enhances the visual appeal but also promotes a sense of order and tranquility.

2. Deep Cleaning: Once clutter is minimized, delve into deep cleaning tasks. Dust surfaces, sweep and mop floors, and vacuum carpets to eliminate accumulated dirt and allergens. Don’t forget overlooked areas like baseboards, ceiling corners, and behind furniture. A clean, well-maintained home contributes to a healthier and more comfortable living space.

3. Organize and Streamline: Optimize your space by organizing belongings in a logical and accessible manner. Invest in storage solutions like bins, baskets, and shelves to create a sense of order. Consider donating items you no longer need, creating more room for the things that truly matter.

4. Refreshing the Décor: Spring is a time for vibrant colors and natural elements. Consider swapping out heavy winter curtains for lighter ones, introducing colorful throw pillows, and adding fresh flowers or plants. These simple changes can breathe new life into your home, creating an inviting and uplifting atmosphere.

5. Maintenance Checks: Use spring cleaning as an opportunity to conduct maintenance checks. Inspect household appliances, change air filters, and ensure that smoke detectors and carbon monoxide alarms are in working order. Regular maintenance not only extends the lifespan of your belongings but also contributes to a safer home environment.

6. Digital Detox: Extend the concept of spring cleaning to your digital life. Organize files on your computer, delete unnecessary emails, and declutter your digital space. This not only enhances digital efficiency but also provides a sense of mental clarity and focus.

7. Involve the Whole Family: Spring cleaning can be a collective effort. Involve family members or roommates in the process, turning it into a bonding activity. Assign specific tasks to each person to make the workload more manageable and create a shared sense of accomplishment.

Conclusion: Spring cleaning is more than just a seasonal chore; it’s an opportunity to refresh and revitalize your living space. By clearing clutter, deep cleaning, organizing, and incorporating simple changes, you can create a home that promotes well-being and positivity. Embrace the tradition of spring cleaning as a chance to welcome the new season with open arms and a rejuvenated outlook on life.

Tips & Resources

Top 18 Plants for Dazzling Foliage

Looking to elevate your garden’s aesthetic? The key lies in the right foliage selection! 🍃 Whether you’re aiming for bold shapes, fine textures, or vibrant colors, the right foliage plants can make all the difference.

Yes, You Can Grow Your Own Fruits and Veggies Indoors

Unlock year-round fresh produce with ease: Dive into the world of indoor hydroponics for homegrown tomatoes, strawberries, and more, without stepping foot outside!

35 Easter Desserts That Will Complete Your Holiday Meal

🐰🍰 Sweeten your Easter celebration with these delightful desserts! From adorable bunny-themed treats to elegant cakes, find inspiration for your holiday table in this mouthwatering collection.

Latest Featured Listings

Open House Mar 16 (12am-2pm)
An image of MLS ID: R2858661

46266 Stevenson Road
Sardis South – Chilliwack, BC / R2858661

$1,199,000
4 bedrooms 4 bathrooms 2,953 sqft
Open House Mar 16 (12-2pm)
An image of MLS ID: R2858293

35331 Sandy Hill Road
Abbotsford East – Abbotsford, BC / R2858293

$1,165,000
5 bedrooms 3 bathrooms 2,323 sqft
Sold
An image of MLS ID: R2854085

4674 209 Street
Langley City – Langley, BC / R2854085

$1,299,990
6 bedrooms 3 bathrooms 2,512 sqft
Sold
An image of MLS ID: R2850917

#64 - 10489 Delsom Crescent
Nordel – Delta, BC / R2850917

$899,000
3 bedrooms 3 bathrooms 1,540 sqft
Open House Mar 16 (2-4pm)
An image of MLS ID: R2857296

16210 94 Avenue
Fleetwood Tynehead – Surrey, BC / R2857296

$1,749,000
5 bedrooms 5 bathrooms 2,730 sqft
Open House Mar 16 (12-2pm)
An image of MLS ID: R2856783

9315 Gibson Road
East Chilliwack – Chilliwack, BC / R2856783

$1,665,000
5 bedrooms 4 bathrooms 3,326 sqft
Just Listed
An image of MLS ID: R2855581

#103 - 1274 Barclay Street
West End VW – Vancouver, BC / R2855581

$735,000
2 bedrooms 1 bathrooms 753 sqft
Sold
An image of MLS ID: R2815177

37740 Taggart Road
Sumas Mountain – Abbotsford, BC / R2815177

$1,899,000
5 bedrooms 4 bathrooms 3,412 sqft
An image of MLS ID: R2845644

5666 Cedarcreek Drive
Promontory – Chilliwack, BC / R2845644

$1,047,500
5 bedrooms 4 bathrooms 3,494 sqft
An image of MLS ID: R2835297

#4 - 43540 Alameda Drive
Chilliwack Mountain – Chilliwack, BC / R2835297

$965,000
3 bedrooms 3 bathrooms 2,544 sqft
An image of MLS ID: C8055455

33139 1st Avenue
Mission, BC / C8055455

$1,499,000
5,050 sqft
An image of MLS ID: R2817723

3299 River Ranch Road
FVREB Out of Town – No City Value, BC / R2817723

$5,600,000
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Fraser Valley (FVREB)

Home sales in the Fraser Valley posted a second consecutive bump in February as new listings continue to rise and trend slightly above the 10-year seasonal average.

The Fraser Valley Real Estate Board recorded 1,235 transactions on its Multiple Listing Service® (MLS®) in February, a 32 per cent increase over January but still 21 per cent below the 10-year average for sales in the region. New listings increased to 2,797 in February, up 18 per cent from January and 4 per cent above
the 10-year average.

Click here for the full report

Homes

There are 1955 homes for sale right now, with an average list price of $3,467,149.
An image of MLS ID: R2848444

6124 272 Street
County Line Glen Valley – Langley, BC / R2848444

$35,000,000
7 bedrooms 9 bathrooms 15013 sqft
An image of MLS ID: R2825529

17499 20 Avenue
Pacific Douglas – Surrey, BC / R2825529

$28,800,000
4 bedrooms 3 bathrooms 4522 sqft
An image of MLS ID: R2852746

2189 123 Street
Crescent Bch Ocean Pk. – Surrey, BC / R2852746

$21,800,000
4 bedrooms 8 bathrooms 10206 sqft
View more listings

This is not intended to solicit properties currently listed for sale or individuals currently under contract with a brokerage. All information was current on Mar 15, 2024.

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