February 2017 SnapStats Newsletter

Westport Properties February 2017 SnapStats Newsletter

In this issue, you will have access to the full January 2017 SnapStats Report as well as other important real estate news.

You can see the full SnapStats report by clicking joining our monthly newsletter. For more information contact us HERE.

Is Now the Right Time to Sell? 

Of course, this is the question we hear most often and this month is no different. We have definitely had a slower time since last November – longer really. With the arrival of the Chinese New Year and also with Spring on our doorstep, we are starting to see more showings and consumers again. It is unlikely we are going to see the same activity as last Spring, but that was an anomaly. While many people are taking a wait and see attitude with the market, there are indicators in our community that homes are starting to sell again and people are out looking at homes. Of course, some housing types are selling better than others! I hope everyone enjoyed the big snowfall and if you are thinking about selling, either myself or one of our Westport Properties Group members would be happy to discuss with you how your particular home would fare in today’s White Rock market. 

Of course, we are always available for any questions or comments and we are happy to share our time without any obligation.

Demand Diversifies for Fraser Valley Real Estate in January

Fraser Valley real estate kicked-off the New Year strong with sales reaching above the ten-year average for January, and a healthy intake of new inventory.

The Fraser Valley Real Estate Board processed 976 sales of all property types on its Multiple Listing Service® (MLS®) in January, a decrease of 27.1 per cent compared to the 1,338 sales in January of last year, and a 1 per cent increase compared to the 966 sales in December 2016.Of the 976 sales processed last month, 212 were townhouses and 276 were apartments, representing exactly half of the month’s market activity.

“The impacts of 2016's tremendous real estate surge continue to be felt as we enter the New Year, and a new market.Notably, the distribution of sales across our residential property types leveled-off even further in January. As well, prices continue to adjust to match more typical demand, albeit slowly," said Charles Wiebe, Board President. 

The Board received 2,178 new listings in January, a significant 162.7 per cent increase from December 2016, and a 13.2 per cent decrease compared to January 2016’s 2,510 new listings.In January the total active inventory for the Fraser Valley was 4,401 listings, a decrease of 8.1 per cent year-over-year and the lowest level seen for a January in ten years. However, active inventory increased by 12 per cent month-over-month compared to December’s 3,930 active listings.

"This is a great time to list in the Fraser Valley; buyers are looking at a wider range of homes and the market is still lacking inventory needed to match demand. If you need help figuring out your next step, talk your local REALTOR® and they can help you get to market quickly and stress-free.”

For the Fraser Valley region, the average number of days to sell a single family detached home in January 2017 was 49 days, compared to 33 days in January 2016.

HPI® Benchmark Price Activity

• Single Family Detached: At $856,300, the Benchmark price for a single family detached home in the Valley did not change compared to December 2016, and increased 24.3 per cent compared to January 2016
.• Townhouses: At $420,400 the Benchmark price for a townhouses in the Fraser Valley increased 0.9 per cent compared to December 2016, and increased 28.8 per cent compared to January 2016.
• Apartments: At $262,300, the Benchmark price for apartments/condos in the Fraser Valley increased 1.3 per cent compared to December 2016, and increased 27.6 per cent compared to January 2016.

January 2017 Market Report Video.

12529 Ocean Forest Place - $1,998,000 

This beautiful Ocean Park home shows like new. Extensively renovated & developed over the years, this home has been meticulously cared for & sits on a quiet cul-de-sac road. Private back yard filled with sunlight & is perfect to enjoy afternoon BBQ's. Natural light fills the rooms. Attention to details is evident in the quality construction. High end stainless steel appliances accentuate the open kitchen with granite counters, perfect for family or entertaining. AC!Separate living room and family room so there is room for the kids and the adults. Incredible location only 5 min from Crescent Beach. Easily walk to shopping, good schools & restaurants. Looking for the perfect family home? This is it.

For more information, please click HERE

1245 KENT STREET - $2,798,000 

Enjoy breath taking view white capped Cascade Mountains right down to the sandy beaches of White Rock. Loose yourself in over 4,200 sq.ft. of contemporary Modern Design and West Coast touches. Another proud home built by renowned designer and builder, Wind Ridge Properties who are known for their excellence in craftsmanship and use of quality materials. Features of this home include 4 generous rooms with en-suite bathrooms, great room, formal dining room, a spacious recreation room, and dream kitchen to make any chef feel like a professional amongst the Thermador stainless appliances. Spaciously equipped with 4 covered parking stalls for all the toys!

For more information, please click HERE

14658 West Beach Ave - $3,488,888 

WEST BEACH at it's finest! 3 Level OCEAN VIEW Home only 100 Steps to the Beach. FRONT & REAR Access with level drive-in Garage and ground-level SUITE! This Executive Home comes complete with ELEVATOR, Private Yard and expert workmanship and SMART HOME automation. Each level offers a 14' X 40' DECK to capture this spectacular OCEAN VIEW. This area of West Beach is a HIDDEN GEM quietly tucked away just off Marine Drive, but only a short 5 minute walk to all the Restaurants, Pubs and the PIER! Forget the Taxi Cabs and Uber!! The home is under construction and scheduled completion in July 2017. This is not your ordinary home so be the first to get your name on the front door!! This is a WESTPORT Special Presentation. 

For more information, please click HERE

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Thank you so much for reading our monthly stat based newsletter. Stay tuned for our community newsletter later in the month! If you have any questions please do not hesitate to contact myself or one of our agents at info@westportproperties.com. We would be happy to hear from you!

Natasha Young 

Marketing and Media Manager, Westport Properties Group 

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14869 Marine Drive 
White Rock BC