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Trevor Miller

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Stunning VIEWS from Coquitlam condo

March 19th, 2024 by trevormillerhomes

https://www.realtor.ca/real-estate/26641016/1403-3071-glen-drive-coquitlam

Enjoy STUNNING Park/City/Mountain VIEWS from the 14th floor of the charming Parc Laurent. Lots of space in this 1017 square foot 2BR/2BA corner unit, which features updated flooring, counters and all s/s appliances. Views from both large bedrooms, kitchen, dining and living room with south-facing balcony. Building has exercise facility, games/party room, and workshop. Underground parking stall comes w/EV CHARGER ($4000 value). Location is close to shopping and transit, yet quiet & tranquil across from GLEN PARK. Quick possession possible.

March 2024 Market Update

March 4th, 2024 by trevormillerhomes

Home sales in the Fraser Valley posted a second consecutive bump last month, 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.
“There is somewhat of a buzz in the market right now,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board. “We are seeing new listings come onto the market and REALTORS® continue to see more traffic at open houses, however buyers are still exercising caution. We aren’t out of the woods just yet, but the signs are pointing to a further increase in activity as we head into spring.”

Active listings in February were 5,561, up by 14 per cent over last month and up by 26 per cent over February 2023. With a sales-to-active listings ratio of 22 per cent, overall market conditions are edging into a seller’s market. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.
“All indications suggest we will see the Bank of Canada’s overnight rate begin to decrease mid-year, which is encouraging for buyers and sellers,” said FVREB CEO Baldev Gill. “With that confidence and the spring market on the horizon, we recommend anyone looking to buy or sell to seek the knowledge and guidance of a professional REALTOR® who can provide detailed analysis and intimate knowledge of the local market.”

The average number of days homes are spending on the market is dropping, with single-family detached homes spending 35 days on the market, down from 44 days in January, apartments spending 29 days on the market, down from 41 days in January and townhomes moving more quickly at 28 days, down from 33 days on the market in January.

After six months of decreases, overall Benchmark prices posted a slight bump in February, edging up 0.9 per cent from January and up 4.8 per cent over February 2023.

Feb 2024 Market Update

February 2nd, 2024 by trevormillerhomes

The new FVREB sales-to-active listings ratio is reported as 19%, which means a “balanced market”, while overall Benchmark prices continue to edge downward — half a per cent from December, and down six per cent from the 12-month peak in July. This is the time to get off the sidelines, before an interest rate cut sees the market (already suffering with low inventory) flooded with buyers! Feb 2,2024 FVREB Press release below:

 

Signs of stability in Fraser Valley housing market

SURREY, BC — The Fraser Valley real estate market showed signs of recovery in January as home sales rose after six consecutive months of decline, and new listings more than doubled.

The Fraser Valley Real Estate Board recorded 938 transactions on its Multiple Listing Service® (MLS®) in January, a 12 per cent increase over December and below the 10-year average for sales in the region. At 2,368, new listings increased 151 per cent in January, rebounding strongly from the seasonal lull seen in December. This is the largest month-over-month percentage increase in new listings in five years.

 

Active listings in January were 4,877, up by 4 per cent over last month and up by 18 per cent over January 2023. The sales-to-active listings ratio was 19 per cent, representing balanced conditions in the overall market. Detached houses are in balanced market territory at 19 per cent, while both townhomes and apartments remain in seller’s market territory at 34 and 27 per cent respectively. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

 

The average number of days homes are spending on the market has been increasing since October, with single family detached homes spending 44 days on the market, apartments spending 41 days on the market and townhomes moving more quickly at 33 days.

Overall Benchmark prices continued to edge downward for the sixth month in a row, losing less than half a per cent from December, and down six per cent from the 12-month peak in July.

Home sales fall for a fifth straight month

December 4th, 2023 by trevormillerhomes

The Fraser Valley Real Estate Board says sales are down 8% and listings 20% from the previous month, while buyers continue to wait on the sidelines hoping for a drop in interest rates. If/When that happens, we’ll likely see a rush of buyers competing for what little inventory is on the market, so if you’re planning to buy now could be the opportune time!

Market weakens as sales and prices continue to edge downward

November 2nd, 2023 by trevormillerhomes

That’s the headline in today’s press release from the Fraser Valley Real Estate Board.

Yes, high interest rates have caused a dip over past few months, but prices remain up almost 5% compared to last year. So, even though it’s a buyer’s market, sellers shouldn’t be too discouraged.

If you’d like to know what your property is worth, contact me for a free no-obligation market evaluation.

Market dips due to interest rate uncertainty

September 5th, 2023 by trevormillerhomes

A combination of seasonal trends and cautious anticipation of the next rate announcement saw the Fraser Valley real estate market slow in August as sales fell slightly for the second month, after reaching a 15-month high in June.

The Fraser Valley Real Estate Board recorded 1,273 sales on its Multiple Listing Service (MLS®) in August 2023, a decrease of 6.9 per cent compared to July. Sales were up 25.2 per cent compared to August 2022.

New listings dropped to 2,622 in August, a decrease of 8.2 per cent over last month, but 28.2 per cent above this time last year. Active listings have been rising since last December and grew again in August by 1.5 per cent to 6,291, just 7 per cent off the ten-year average.

 

With a sales-to-active-listings ratio of 16 per cent, the market for detached homes was balanced between supply and demand. Demand for townhomes and apartments remained stronger (38 per cent and 32 per cent, respectively). The market is considered balanced when the sales-to-active-listings ratio is between 12 per cent and 20 per cent.

Benchmark prices in the Fraser Valley, remained relatively unchanged compared to last month with gains of less than one per cent across all property types. See below for details.

“We expect to see market activity pick up heading into the fall months,” said FVREB CEO, Baldev Gill. “That said, with the uncertainty surrounding interest rates as well as the potential impact of provincial housing strategy initiatives, buyers and sellers would be well-advised to consult with a professional REALTOR® to assess any risks and opportunities before making a decision.”

On average properties spent between two and four weeks on the market before selling, with townhomes and apartments moving faster (16 and 20 days, respectively) than detached homes (25 days).

Rooms with a VIEW!

August 30th, 2023 by trevormillerhomes

This one checks EVERY box! Updated 2BR/2BA in prime location, walking distance to all the Coquitlam Centre shops, restaurants and SkyTrain. New
floors, fresh paint and new S/S appliances incl. washer/dryer and built-in microwave. EV charger for your Tesla and PANORAMIC VIEW of Mt. Baker,
City & Glen Park. Quick possession possible.

Details HERE

 

Low supply still impacting home prices: Sales increasing despite rate hikes

July 6th, 2023 by trevormillerhomes

SURREY, BC – The Fraser Valley real estate market saw strong sales activity in June with levels on par with the 10-year average for the month, amid on-going challenges with supply.

In June, the Fraser Valley Real Estate Board (FVREB) processed 1,935 sales on its Multiple Listing Service® (MLS®), an increase of 51.1 per cent compared to June 2022 and a 13.1 per cent increase compared to May.

The Board received 3,424 new listings in June, an increase of 2.8 per cent compared to last year, and a decrease of 3.1 per cent compared to May 2023. The month ended with a total active inventory of 5,944, a 6.9 per cent increase compared to May, and 8.2 per cent less than June of last year.

Across Fraser Valley in June, the average number of days to sell a single-family detached home was 21 and a townhome was 16 days. Apartments took, on average, 22 days to sell.

MLS® HPI Benchmark Price Activity

  • Single Family Detached: At $1,526,200, the Benchmark price for an FVREB single-family detached home increased 2.3 per cent compared to May 2023 and decreased 7.4 per cent compared to June 2022.
  • Townhomes: At $845,400, the Benchmark price for an FVREB townhome increased 2.3 per cent compared to May 2023 and decreased 5.2 per cent compared to June 2022.
  • Apartments: At $552,200, the Benchmark price for an FVREB apartment/condo increased 1.8 per cent compared to May 2023 and decreased 2.5 per cent compared to June 2022.



FVREB: New Supply A “Welcome Trend”

June 2nd, 2023 by trevormillerhomes

The Fraser Valley Real Estate Board claims the latest stats show a welcome trend towards alleviating our region’s housing supply issues, as buyers and sellers “adjust” to the new market conditions. However, I’m still seeing demand outpace supply, with multiple competing offers and prices over asking. It’s a great time to sell, but leave yourself extra time to buy. As your realtor I can help with that!

Click HERE for the full FVREB press release & stats.

12 Smells Homebuyers Hate

April 27th, 2023 by trevormillerhomes

Ahhh, time to sell your house. You want to get the best price for your house – and you want it to happen fast! But the competition out there can be stiff…especially if there are lots of great properties for sale in your area. So how do you give your home the edge?

When it comes to selling your home, you’ve got to think beyond how pretty it looks, how nice the shrubs are outside, and whether the paint color on the front door is a turn on, or a turn off.

It’s no secret that you’ve got to appeal to their sense of sight – after all, we perceive up to 80% of our information through vision.

If you want to sell your home fast (and at the best possible price, of course), you also need to pay attention to is smell.

It’s true… stinky homes sell slowly. Sweet-smelling homes are much more desirable!

Even though it may seem like common sense, many sellers can overlook it because it’s not just the obvious smells that make potential buyers run away holding their noses.

So read on to learn about 12 scents that potential home buyers hate as well as how to fix them. Then read further about what smells home buyers love…

https://trevormillerhomes.bestrealestateblog.com/12-smells-homebuyers-hate

Trevor Miller, RE/MAX Colonial Pacific Realty
15414 - 24 Avenue, White Rock, British Columbia, V4A 2J3
Tel: 604-541-4888 Toll Free: 800-226-8693 Cell: 778-847-8738 Fax: 604-531-6800
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