By: Melisa Duncan - Williams

STARBUCKS & THE CRAZY HOUSING MARKET

Tags: Homes in Bitish Columbia, Fraser Valley Stats, House Prices, First Time Buyers, Buying, Selling, Real Estate, Duncan-Williams Group, Fraser Valley Homes, British Columbia Homes, Vancouver Home Prices, Langley Home Prices, Abbotsford Home Prices, Best Realtor, Best Realtors in British Columbia, Houses, Home Flipping, House Flip, Coffee, Starbucks, Condos, Detached homes, townhouses, townhomes, Average cost of homes, Home price index, buying a home, British Columbia, Canada, How to sell you home, Million dollar homes, Luxury, ultra-luxury, million-dollar listings, Harold Duncan-Williams, Melisa Duncan-Williams,

You have been going to the same Starbucks for 3 years now and not only does Sarah, the super
sweet 20 something barista, get your name wrong, (even though you NEVER get hers wrong)
but you literally said twice “extra hot, skim milk please!” and to your complete distaste, once you’ve already driven off, of course, it’s definitely 2% and definitely NOT extra hot. UGH! But what is even more frustrating? THE MARKET! Forget putting an offer down, but with pretty much NO inventory, and that one house that you and your husband fell in LOVE with, pictured raising your family in, the one that you lost sleepover, and finally, put an offer on, was sold to someone else…it’s not fair but it IS, unfortunately, the market we’re in. WHY?

Well according to the stats as of September 2021:
“Demand for residential homes of all types is strong in the Fraser Valley with more sellers returning to the table in September, which is expected at this time of year.”

In September, the Board received 2,342 new listings, a decrease of 33.4 % compared to last year. “
So inventory is MUCH lower creating HIGHER demand meaning, if you like that house, you NEED to put your best foot forward, not playing games. Ask yourself, is $20-$150k+ over asking (depending on the price of the home of course) worth it to you?

Is it worth losing that house that you have already pictured your furniture, family, gatherings in? But
MORE importantly, you need to work with a Realtor who is well versed in the market, who can check stats and recent sales in that area so you know how and where to be guided.

Some other things to know:
Across The Fraser Valley, in September, the average number of days to sell a single-family detached home was 26 and a townhome was 19 days. Apartments took, on average, 26 days to sell. MLS® HPI Benchmark Price Activity.

Single Family Detached: At $1,362,220, the Benchmark price for an FVREB single-family detached home increased 1.9 % compared to August 2021 and increased 31.9 % compared to September 2020.

Townhomes: At $707,300, the Benchmark price for an FVREB townhome increased 1.4 percent
compared to August 2021 and increased 24.7 percent compared to September 2020.

Apartments: At $504,500, the Benchmark price for an FVREB apartment/condo increased 1.2 percent compared to August 2021 and increased 15.5 percent compared to September 2020.
[Source: stats from FVREB]

So I’ll leave you with 2 things:
1) Use your Starbucks app to purchase your coffee next time because they can’t get your name wrong AND let’s get Sarah to reiterate your order back to you because you deserve what you pay for.

2) Get yourself a Realtor who will go to work for you through proven negotiating skills, transparency and more importantly RELIABILITY! Because when it comes to one of the biggest investments of your life, these are the qualities that you want in an agent.

Duncan-Williams Grou, we're here to help! Drop us a line or send us an email anytime.
Author: Melisa Duncan-Williams | Marketing & PR
Duncan-Williams Group – Real Estate Professionals.