THE REAL ESTATE MINUTE - Aug/2023 Edition - Top Affordable Homes, Foreclosures Lists & More

Evert Guliker - Real Estate Consultant

Select Real Estate

evert@evertguliker.com
1-604-793-6103
http://www.evertguliker.com/

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Most Affordable Homes, Foreclosure Lists, and More...

TOP 15 MOST AFFORDABLE PROPERTIES
Looking for an affordable opportunity or investment in this market?
We once again have the top '15 Most Affordable Properties' & the 'Complete Foreclosure' lists in various categories and locations in the links below.

ACREAGES
The Chilliwack Board
Fraser Valley Board
Vancouver Board (Mainland)
Sunshine Coast
Islands Van & Gulf

SINGLE FAMILY HOMES
The Chilliwack Board
Fraser Valley Board
Vancouver Board (Mainland)
Sunshine Coast
Islands Van & Gulf

TOWNHOMES
The Chilliwack Board
Fraser Valley Board
Vancouver Board (Mainland)
Sunshine Coast

CONDOS
The Chilliwack Board
Fraser Valley Board
Vancouver Board (Mainland)
Sunshine Coast

BARE LAND
Lower Mainland

MULTIFAMILY
Lower Mainland

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MOST EXPENSIVE
And for those who need a little more space or view, I placed these properties in the following link with access to more pictures...

10 most expensive properties in the Lower Mainland

10 most expensive properties in the Chilliwack Board area

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And, here it is - the ever popular FORECLOSURE LIST - Aug 2023 edition.

Buying a foreclosure property is different than other home purchases. So if you decide to do this, make sure you have a realtor well versed in this type of transaction.

FORECLOSURE LISTS

House with Acreage (8)
Single Family (38)
Townhomes (12)
Condos (21)
Bareland (15)
BC Northern (32)

Receive weekly updated foreclosure lists. CLICK HERE to SIGN UP.

Comments

Inflation Goes Down From 4.1% to 2.8%

The rise in consumer prices decelerated again in June, but costs for shelter and food are still putting a strain on Canadian's wallets, evidence that bringing inflation down to target remains a tricky balancing act for the Bank of Canada.

Full Article Here

Comments

AUGUST MARKET UPDATE

Activity has been slightly subsiding over the past couple months and now holding steady. This may hold on into the September months before cooling off coming into the late fall.

Single Family Homes from the Chilliwack Board in the last 7 days received:
83 New Listings
13 Expired
30 Price Changes
30 Sold

Many sellers are still taking advantage of the low inventory market which could change soon depending on the results of the rising interested rates.

For the most updated market information on what is happening in your neighborhood, give me a call/text at (604) 793 6103 or e-mail at evert@evertguliker.com

Comments

Chilliwack Real Estate Market Stats Aug, 2023

Single Family Stats - Aug 2023

*Click the link above to scroll through multiple page PDF's for various stats. The stats are based on single family resale homes only.

Median Sale Price decreased from $880k in June to $820k in July. (February/22 was at 1100k).
New Listings dropped from 292 in June to 275 in July.
Total Inventory Total inventory increased from 559 in June to 588 in July. (Inventory sat at 835 in July/22 and 157 in Dec/21)
Unit Sales decreased from 118 in June to 113 in July. (March/21 was at a whopping 355)
Sales to Active Ratio also decreased from 21% in June to 19% in July. (February/22 we were sitting at 62%). 12%-20% is considered a balanced market. Under 12% is a buyers market.

FOR MORE STATS, VISIT: Chilliwack Stats

Comments

Another Bank of Canada rate hike likely in September.

The Bank of Canada hiked interest rates yet again in its July decision – and it’s unlikely to be the last increase of 2023, according to a leading economist.

Full Article

Comments

Mortgage Defaults and Foreclosures Rise as Interest Rates Climb

As interest rates in Canada increase, mortgage defaults and foreclosures continue to see a big spike. For the Canada housing market, higher rates might make the rate-sensitive housing market even more problematic.