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New property listed in Harrison Hot Springs, Harrison Lake

I have listed a new property at 6 450 ESPLANADE AVE in Harrison Hot Springs. See details here

Great Affordable Investment Opportunity! Harrison on the Lake is ready for you! This studio style apartment is the only unit whose door opens onto the front ground level patio, from which you can enjoy your breakfast or take in views of the lake and mountains. Shopping, restaurants, coffee shops and more are all just steps away. New kitchen and bathroom, new vinyl plank flooring, paint and fixtures make this unit ready to go. Rent it out or Air B & B it with the C-2 Zoning in place. Bright natural light and it stays cool in the summer months because it's north facing. The strata fees are $143.39 and owners are allowed 1 dog or 1 cat. Easy to view, call me today!

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I have sold a property at 419 1655 NELSON ST in Vancouver

I have sold a property at 419 1655 NELSON ST in Vancouver on Sep 14, 2024. See details here

PRIVATE TOP FLOOR SOUTH FACING UNIT! Bright open concept design, 9’ ceilings, beautifully renovated to suit the most discerning tastes. Enjoy living & entertaining in this large 692 sq ft 1 bed and 1 bath unit. Stylish exposed fir wood beams, newly painted, hardwood floors, Quartz counters, S/S appls, IN SUITE LAUNDRY. Inc 1 parking spot and 1 storage locker. Located in the heart of the West End, walking distance to shopping, trendy restaurants, entertainment, English Bay, beaches, Stanley Park, and the Seawall for those nightly strolls. Enjoy a beverage on your large balcony overlooking mature trees and gardens in this great neighbourhood. The building upgrades include: NEW, doors and windows, balconies, secure FOB system, plumbing & heater boiler. Rentals, families & pets welcome! HURRY!

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Sluggish sales and rising inventories see Fraser Valley moving toward a buyer’s market

With active inventories hitting levels not seen in 10 years and sales 30 per cent below the 10-year average, Fraser Valley real estate is building towards a buyer’s market if sales continue to lag.

The Fraser Valley Real Estate Board recorded 982 sales in September, down by eight per cent over August and by more than 10 per cent over September 2023. Again, seasonally adjusted sales were the second slowest in a decade in the Fraser Valley.

“With three rate cuts already and more expected before the end of the year, buyers are watching the market closely to time their purchasing decisions,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “The current conditions should favour buyers, particularly in the detached market, however until we start to see some movement in asking prices, properties will continue to sit on the market for extended periods as both buyers and sellers await the next rate announcement.”

New listings rose in September, up 21 per cent to 3,352, an increase of 17 per cent year-over-year. Overall inventory increased five per cent from August to September to 9,045, up 39 per cent over last year. The combination of declining sales and rising inventories has helped to create balanced, and in some cases, buyers’, market conditions in the Fraser Valley.

“We know the demand is there among Fraser Valley buyers,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “After months on the sidelines, buyers want to get into the market but many also need to sell before they can buy. When you factor in affordability challenges and the anticipation of more interest rate cuts, we are seeing persistent weakness in the market. In conditions like these, we encourage buyers and sellers alike to talk to their REALTOR® to assess the risks and opportunities before making a decision.”

Across the Fraser Valley in September, the average number of days to sell a single-family detached home was 35, while for a condo it was 37. Townhomes took, on average, 30 days to sell.

Benchmark prices in the Fraser Valley dipped again in September, with the composite Benchmark price down 1.4 per cent to $978,800.

MLS® HPI Benchmark Price Activity

  • Single Family Detached: At $1,501,100, the Benchmark price for an FVREB single-family detached home decreased 1.5 per cent compared to August 2024 and decreased 1.3 per cent compared to September 2023.

  • Townhomes: At $834,400, the Benchmark price for an FVREB townhome decreased 1.4 per cent compared to August 2024 and decreased 1.6 per cent compared to September 2023.

  • Apartments: At $545,000, the Benchmark price for an FVREB apartment/condo decreased 0.2 per cent compared to August 2024 and increased 0.4 per cent compared to September 2023.

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