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Activity in the market has broke the trend in July 2019 seeing a 12% increase in sales compared to June 2019 and a 13% increase in sale compared to July 2018, which is when we started seeing the activity slow last year.

It appears that sellers are now realizing that they will have to sell for a lower price than they could have in the past, but that also means that they will be purchasing their next home at a lower price as well. This simply means that more homes are likely sell and the stalemate between buyers and sellers is looking to be on its way out.

Overall prices have not changed much in month to month comparison as July 2019’s average home price was $824,600 down from June 2019’s $827,400. This is of course down from July 2018’s average price of $884,000. Speculation would lead me to believe that prices will hold a very similar pattern over the next couple of months, with no real significant change in price. I do predict however, that winter will see prices drop once again, so if you are thinking of selling, getting ready to do so this fall may be a good decision to make.

There were 8,340 active listings available in the Fraser Valley at the end of July, an increase of 12.7% compared to July of last year and a decrease of 2.1% compared to June 2019. The Board received 2,797 new listings in July, a 0.5 per cent decrease compared to June 2019’s intake of 2,810 new listings and a 4.2% decrease compared to July of last year

According to an informal market survey, as well as my own observations, we had the highest number of first time homebuyers purchase in the last couple months in over three and a half years.
My advice to all you first time buyers on the fence of buying now remains the same as it has for the past several months. Don’t rush into anything at this point, but don’t be afraid to pull the trigger if the right home comes your way. Prices will likely drop in the near future, but that home that you love now, may not be available then. I also do not predict that prices will drop a massive amount to make a huge difference in the long run.

At the end of the day, your situation is unique to you, and I cannot give the specific advice that should be considered when dealing with real estate in this newsletter. So if you are thinking about making a move happen, or even if you are just toying around with numbers, get in touch with me soon so that we can break things down together and start making a custom made plan for your unique needs!
 

Yet, almost a million and a half properties get burglarized in North America each year. So, how can you prevent that from happening to your home? Here are a few lesser-known home security basics:

• Actually, never hide a key outside. Thieves know all the hiding places. Instead, make sure all family members have a key.

• Two-thirds of home burglaries occur during the day. So, be extra vigilant about making sure doors and windows are locked while you’re out during the day.

• Surprisingly, most thieves are not daring. They are 2.7 times more likely to target a home without an alarm system.

• Thieves will attempt to force entry through sliding-style doors and windows first. Make sure these have a locking bar or extra bolt lock.

• Surprising, 40% of household burglaries do not involve forced entry. The thief is able to slip in through an unlocked window or door.

• Don’t show off possessions! An imported racing bike parked next to the garage, or expensive audio equipment clearly seen through a window, is an invitation to burglars.

• Take a look at the lighting and landscaping around your property. Are there spots where a thief could easily hide? If so, make some changes.

• When planning a trip, have a trusted neighbour pick up newspapers, flyers and anything else that may accumulate at your door.

Your local police department may have more tips and special programs for keeping your home secure. Give them a call.