Mir's Corner - Real Estate Blog

Stats from September 2019

To view the YouTube stats video, please click here or click below:



The Real Estate market in the Fraser Valley has been significantly better since June 2019 at sales ratio of 18%, July 2019 at sales ratio of 21%, August 2019 at sales ratio of 20%, and for September 2019 at sales ratio of 21% -- overall (for all property types) -- switched from a 'Balanced Market' back to a 'Sellers Market'.

Looking at Surrey, BC, Canada (for detached homes); the Aug 2019 sales ratio was at 16%, and it is closer to a 'Sellers Market' in Sept 2019, with the much better sales ratio at 20% -- still in a 'Balanced Market'. The average sales price slightly increased from Aug 2019 to Sept 2019 for detached homes in Surrey, BC, by 4%

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Stats from July 2019

The Real Estate market in the Fraser Valley has been significantly better since June 2019 at sales ratio of 18%, verses, July 2019 at sales ratio of 21% overall (for all property types) -- switched from a 'Balanced Market' back to a 'Sellers Market'.

Looking at Surrey, BC, Canada (for detached homes); the June 2019 sales ratio was at 14%, and it is still unchanged in July 2019, with the same sales ratio at 14% -- still in a 'Balanced Market'. The average sales price slightly decreased from June 2019 to July 2019 for detached homes in Surrey, BC, by 4% averaging at: $931,000. The inventory slightly rising in July by 4%; and the sales 1% less in comparison to June 2019 for all detached homes in Surrey, BC. Lastly, the Days-On-Market

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For the first time since the introduction of the stress-test when qualifying would-be home buyers - both insured and uninsured - the rate for qualifications has dropped from 5.34% to 5.19%

This is also GREAT NEWS since the 'First-Time Buyers Incentive' is also being launched on 02nd of September 2019.

Please contact me directly for more details and any questions, I will do my best to address all questions and concerns in a timely manner.

Feel free to leave to comment or ask me something by entering it below 'Leave a Comment' box ...

Thanks for reading.

Mir Khan
Certified International Property Specialist, International Realtor
Century 21 AAA Realty Inc.
(778) 558-4427
mir@mirkhan.ca
www.MirKhan.ca

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The First-Time Home Buyer Incentive is a program that the Government of Canada is launching on the 02nd of September 2019 to help reduce the monthly mortgage payments by owning equity in the buyer's home. Please see below most of the details on this incentive:

  • Total Grant Amount that the Government of Canada is set aside for all First-Time Home Buyer's: $1.25 Billion over 3-years
  • Starting September 02nd, 2019 with the closing for the sale - starting on or after November 01st, 2019
  • Easy 1-page application - the mortgage broker can help with this during application process
  • To qualify, the buyer must be:
    • A Canadian citizens, permanent residents, and non-permanent residents who is legally authorized to work in Canada
    • At least one
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Prepare for an Earthquake:

BC sits in one of the world’s most seismically active regions, with more than 3,000 earthquakes every year. Most aren’t felt, but there’s a one in three chance for a damaging earthquake within the next 50 years. If those were lottery odds, you’d be buying a ticket. Instead, take time to prepare yourself and your family. During an earthquake, follow these steps to stay safe: Drop to your hands and knees. This prevents falling, but still allows you to move if necessary. Cover your head and neck. If possible, get under a sturdy piece of furniture, like a table or desk. Hold on to your cover until the shaking stops.

To learn more, visit: www.gov.bc.ca/PreparedBC

Prepare for a Tsunami:

Areas of BC’s coast are

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Stats from June 2019

The Real Estate market in the Fraser Valley has been slightly lower since last month - May 2019 at sales ratio of 22%, verses, June 2019 at sales ratio of 18% overall (for all property types) -- switched from a 'Sellers Market' to 'Balanced Market'.

Looking at Surrey, BC, Canada (for detached homes); the May 2019 sales ratio was at 16%, verses, June 2019 sales ratio at 14% -- still in a 'Balanced Market'. The average sales price slightly decreased from May 2019 to June 2019 for detached homes in Surrey, BC, by 1%. The inventory very slightly rising in June by 1%; and the sales 12% less in comparison to May 2019 for all detached homes in Surrey, BC. Lastly, the DOM went up by 5 days, to 24 days from 19 days in May 2019. For the

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Hello Readers,

Thank you for taking time and reading ...

The BIG question is, what are the Canadian interest rates for 2019 suppose to do? ...

Well, depends on who is responding. For example, based on what Derek Holt (vice president and head of capital markets economics for Scotiabank) thinks, it is going up. But, based on what Paul Ashworth (chief North America economist for Capital Economics) thinks, it will go down.

Looking at what is happening in the market and new information we found out as of Friday, May 10, 2019 from Labour Force Survey from Statistics Canada, which suggests 107,000 jobs were created in April this is the highest jump on record. Also another fact is that, in the first four months of this year, employment increased by

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The REBGV President, Ashley Smith, issued the following statement:

Our position on the money laundering concerns raised in recent years has remained consistent. The real estate profession is here to do everything we can to assist law enforcement in combating money laundering, or any other criminal activity, in our communities. Where there’s evidence of an individual violating the law, or the rules and regulations governing our profession, that individual should be identified and held accountable.

Rising home prices in recent years have highlighted concerns about money laundering and other issues within the local real estate market. Since 2016, the Real Estate Board of Greater Vancouver has met with and given feedback and information to every

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Stats from April 2019

The Real Estate market in the Fraser Valley has been slightly lower since last month - March 2019 at sales ratio of 22%, verses, April 2019 at sales ration of 21% overall (for all property types) -- still a 'Sellers Market'.

Looking at Surrey, BC, Canada (for detached homes); the March 2019 sales ratio was at 19%, verses, April 2019 sales ratio at 16% -- 'Balanced Market'. The average sales price slightly decreased from March 2019 to April 2019 for detached homes in Surrey, BC, by 1%. The inventory rising in April by 21%; and the sales 1% more in comparison to March 2019 for all detached homes in Surrey, BC. Lastly, the DOM went down by 4 days, to 22 days. For the most part, we are in a balanced market (ask me what this means) at

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Hello Everyone,

I wanted to take a quick minute and share the Surrey, BC, Canada, stats for the first quarter of the 2019.

Mainly, there has been a few important facts to notice, and those are listed below to compare 2019 Q1 verses 2018 Q1:

- The Homicide has gone up by 67% from 2018 to 2019 --> 5 homicides in 2019 verses 3 in 2018

- Violent Crimes has gone up by 43% from 2018 to 2019 --> 2003 violent crimes in 2019 verses 1400 in 2018

- Property Crimes have gone down by 9% from 2018 to 2019 --> 6397 property related crimes in 2019 verses 6994 in 2018

- Offensive Weapons Crimes gone up by 68% from 2018 to 2019 --> 104 offensive weapons related crimes in 2019 verses 62 in 2018

Why do you feel this year some of these have gone up? Is it

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