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SEAS6 RM - 253 - Michele has December 2023 Stats & The Top 5 Home Design Trends for 2024!

February 20, 2024 | Posted by: Michele Cummins

SEAS6 RM - 253 -  Michele has December 2023 Stats & The Top 5 Home Design Trends for 2024!

Watch Segment One Here - Michele has December 2023 Stats!

Watch Segment Two Here - The Top 5 Home Design Trends for 2024!

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Michele Cummins 
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Curtis Pope 0:35
It's Saturday morning. You know what that means? It's time for the REMAX Magnolia show with Michelle Cummins and myself Curtis Pope. Good morning Michelle. Good

Michele Cummins - PREC 0:42
morning Curtis Pope. How are you? I'm good.

Curtis Pope 0:45
I mean, I'm just about off to Hawaii right? So like tomorrow, I will be on the beaches. Okay,

Michele Cummins - PREC 0:52
so right now here and minus what are we minus 14 Or minus something cold enough?

Curtis Pope 0:57

Michele Cummins - PREC 0:58
toes and fingers it's

Curtis Pope 0:59
that you know that that cold that hurts not the quite the cold where you take a breath and your nose freezes those so we got that. Yeah,

Michele Cummins - PREC 1:05
your nose hairs if you have any. You know, they're not freezing yet. Eyelashes are definitely freezing. Yeah, yeah. No, not too bad.

Curtis Pope 1:11
I actually thought it was a good idea to go into hot tub Thursday night. And it's always a good idea. Well, it was great until I realized that my hair was all frozen solid. My wife comes over taps me on the head. She goes, You're frozen. I'm like, oh, that's why my head started to hurt a little bit. Get a headache. There

Michele Cummins - PREC 1:25
is this amazing real estate conference in Banff every two years and they have that outdoor pool and we're usually there in February. And the outside pool in the hair. It does it freezes. I wear a snow cap. And then my eyelashes are all frozen. And oh, it's so cool. Okay, so my nephew and niece got one of those ice tubs for Christmas. And so my sister in law, she was using it the other day. And she did they sent me a photo and she's like freezing and then how my nephew's freezing in it and they're in it in like an event a couple nights ago they sent me she she that's at their house so stay at home too. Because it's been so cold. She decided to go in shorts and a tank top and take a five minute walk outside to try to re emanate the or the the idea of

Curtis Pope 2:16
pretty much get the same effect. Yeah.

Michele Cummins - PREC 2:18
Did you get the same effect? Crazy strong. Bold. Well,

Curtis Pope 2:23
you've got the slew in front of your house. You can just go jumping out every morning for a cold plunge. It's

Michele Cummins - PREC 2:27
a bit dry right now. So you might I can't even fly skate on it right now. Like yourself. This would be the time to do that. Oh, but yeah, I actually I love the cold weather. I see you're going to Hawaii. I am. This year. I turned the big. We

Curtis Pope 2:46
don't want to talk about that. Three. Oh, I know. Oh, yeah. Your three Oh, birthday. Yeah,

Michele Cummins - PREC 2:51
yeah, yeah, that's what's happening here. I am doing it. That's not booked yet.

Curtis Pope 2:57
We'll go with Yes. Yes. True. Yes.

Michele Cummins - PREC 2:59
And what I would love while I'm there if I can rent a Don Johnson. The yellow. Was it a 71? Camaro? White interior on the show? I'm on Hawaii. Hawaii Five o show.

Curtis Pope 3:13
Um, what did they have on there again? There was a commercial can't believe

Michele Cummins - PREC 3:17
I forgot. Yeah. Yeah, right. yellow, white interior. Oh my gosh, convertible. I would love to rent one of those while I'm there. That would be like the icing on the cake. I

Curtis Pope 3:27
think you need the Ferrari. I'd rather have that than the cake. You need the Magnum P I Ferrari. The old school. That's

Michele Cummins - PREC 3:32
kind of cool, too. But you know, but it isn't like Magnum. P I Hawaii? It would be Hawaii Five. Oh,

Curtis Pope 3:39
okay. No, I follow you. Yeah, I mean, Hawaii three. Key. Yes. Thank

Michele Cummins - PREC 3:43
you for correcting me. You gotta keep it real. So today, we're going to talk about the stat

Curtis Pope 3:52
Okay, so I'll take a breather here

Michele Cummins - PREC 3:54
for the real estate. Yes. Take a long breath there. I'll

Curtis Pope 3:57
go grab a coffee. Maybe take a nap. Yeah. So you've got lots of stats I'm sure. Yeah,

Michele Cummins - PREC 4:02
well, things are exciting. We have the December stats that came out and on January 4, and this this is obviously I was away for a bit and so I have them to you today. So nothing much has changed since the December stats as this is the dead of winter. We're right in the heart of of it. But as the report says Fraser Valley closes out 2023 with lowest annual sales recorded in 10 years. So everyone was wonder how much the market has changed? Well, you're gonna find out or year over year, so high interest rates kept a lid on sales and listings in the Fraser Valley in 2023. While holding year over year price growth to low single digits, the Fraser Valley region ended the year with 14,713 sales. Now you might not know is that good or is that bad, but that's what was recorded through the MLS at least and that is a decline of 4% over 2020 too, and 23% below the 10 year average. new listings in the Fraser Valley were also at a 10 year low at 8% below the 10 year average. So the composite benchmark home price in the Fraser Valley closed the year at just under $1 million at 988,900. That's down 6% from his 2023 peak in July. But up on the year by 5%. Back to Back mid year, interest rate hikes slowed the market despite strong sales and new listings in the spring. The left Left the market in overall balance for the latter half of the year, albeit at low levels of activity. We anticipate 2024 will bring increased optimism on behalf of buyers and sellers as the Bank of Canada is expected to lower interest rates before mid year. So that was a quote from Narinder Ben Baines, which is our chair at the Fraser Valley Real Estate Board. And I just was talking last night with a client regarding you know, what is the you know, it's actually an ongoing talk I have every day with somebody, but you know, what's the market looking like? What's it because there's so low inventory right now, but it it looks like we're going to get a lot more on the market. So those who are thinking of waiting until spring maybe get listed before spring so in February maybe or even sooner because right now, there's actually some multiple offers happening in fact, I was supposed to show a condo yesterday in Abbotsford to a client and they're like oh, we got multiple offers on it the night before they told me that and and just yesterday on a Facebook group that I I help host Fraser Valley real estate realtors, and there was Realtors going are you guys seeing multiple offers now on some specific units because of the low inventory? And sure enough everyone was going Yes, I was just involved with on Oh yes, I just had one or Yes, I just heard of two other realtors having one. So it's happening with certain products to the market because of the low inventory. For the month of December the board recorded a drop of 6%. Of of listings and 17% higher than December of 2022. So little better than 2022. Funny enough but still drop at 942 new listings dropped by 54% in December but increased 17% compared to December of 2022. Total active listings in December was a decrease of 25% month over month, but 19% higher than year over year. So with the sales to active listings ratio, it's for 18 Sorry, 18%. For December, the overall market closed out the year in balance detached houses closed in 2023, with a ratio of 16%. While both townhouses and apartments remained in seller's market inventory at 29 and 26%, respectively, the market is considered balanced when the ratio is between 12% and 20%. And I just had a look and we're gonna go through the stats here actually municipality by municipality. But before we get to that, just know there's a graph, if you want this whole package, you can look on my website or just ask me for it. But the graph shows that in December, we've become a buyers market. So we were holding in a balanced market for a while but we are now a buyers market. So let's actually show an overall benchmark prices continued to slide for the fifth month in a row losing 1.5% compared to November, and that is where it's at now. So single detached homes overall in the Fraser Valley currently are at 1,471,500. And that is a 1.2% decrease compared to November at an increase of 7.1% compared to December of last year. So townhouses are currently at 826,400 for benchmark price, and that's a decrease of 1.3% compared to the month before, but an increase of 5.3% from the December of 2022. Apartments are at 537,600. And that's a decrease of 1.4% compared to the month before, but an increase of 6.9% compared to the December of 2022. And starting with Abbotsford detached, benchmark prices of homes are at 1,471,500. That's an increase year over year of 717 point 1%. It's a decrease of 1.2%. From November townhouses at 826,400. That's an increase of 5.3% from last year, a decrease of 1.3% from the month before, apartments 537,600. That's an increase of 6.9% from last year, a decrease of 1.4% from the month before and Actually, sorry. I just read the all areas combined. Delete, okay. Abbotsford.

Curtis Pope 10:08
Well don't delete just remember that and then you know, don't go back to it later. Yeah, don't forget what she said it's still important. So it is just done it out of order. That's overall

Michele Cummins - PREC 10:16
of the Fraser Valley now specific to Abbotsford, detached houses million 167,100. That's an increase of 10.1% from last year a decrease of just point 5%. From November townhouses at 646,800. That's an increase of 2.9% from last year, a decrease of just 2.3% from November apartments at 446,400, an increase of 11.3% from last year, and then actual increase of point 9%. from the month before, Mission benchmark prices for detached are at 983,200. That's an increase of 7.7% from last year, and just at point 9% decrease from November townhouses at eight or 670,500. That's an increase of 6% from last year and a decrease of just point 1%. from the month before, apartments at 452,300. And that's an increase of 1% from last year. And it's actually exactly the same as it was in Michigan for apartments in November. So Langley detached benchmark price $1,606,500 That is an increase of 8.2% from last year and a decrease of 1%. From November townhouses at 854,500. That's an increase of 5.6% from last year, a decrease of 1%. November to December apartments at 596,400. That's an increase of 5.2% from last year and a decrease of 1.4% from the month before. So delta is at benchmark price for detached homes 1,347,000. That's an increase of 7% from last year, and a decrease of 1.2%. From November townhouses at 907,600. And increase of 10.5% from last year, but a decrease of point 9% From November apartments at 573,400. That's an increase of 5.3% from the year before, and a decrease of a point 5% from the month before, and Surrey. So overall, in all of Surrey, we are looking at a detached benchmark price of $1,601,400. That's an increase of 6.4% from last year, and a decrease of 1.6%. For the month before townhouses $852,800, an increase of 5.4% from last year, a decrease of 1.7% from the month before apartments of 529,100. And that's an increase of 5.9% from last year, a decrease of 1.1% from the month before, and that is your municipalities in the Fraser Valley. What's happening today, pretty much on the market. These stats are from the end of December 31 of 2023. It's our last month of the year, and we're not too far into January. I can see real lots of listings already coming on the market. Later in the next segment. I'm going to share with you a few coming soon, but I'm seeing a lot of activity A lot of people preparing to list their homes. All

Curtis Pope 13:21
right, sounds good. If people want to see these stats, I know you got them form where do they have to go?

Michele Cummins - PREC 13:25
Oh, they can go to Michelle That would be my website or REMAX one REMAX Magnolia I

Curtis Pope 13:34
know that one just as a plot the ton quite sure you haven't said it enough.

Michele Cummins - PREC 13:37
It feels more natural to me though than my own name. Is that weird? A little

Curtis Pope 13:41
little. We'll take a quick break here we're back with more right after this.

And we are back with segment two of the REMAX Magnolia show and we're talking lip gloss. No, briefly, we're off air. You love that lip gloss.

Michele Cummins - PREC 14:52
It's really really good. I love it. Ah yes, happy harvest. It's apple heart.

Curtis Pope 14:59
It's apple harvest. I don't think it's fair she gets to have makeup or anything else and get to look it on camera, I have to look like this.

Michele Cummins - PREC 15:04
It's just lip gloss. You know, although your lips would be pretty shining, but

Curtis Pope 15:07
yeah, I don't think I need any lip gloss. You know, perhaps, you know something to kind of, you know, make it look like I have some color on my face as

Michele Cummins - PREC 15:15
well you're going to Hawaii so you'll come back with some color, that's for sure.

Curtis Pope 15:19
I found a little foundation might be good to take the light off of me a little bit but

Michele Cummins - PREC 15:23
powder, foundation powder pickleball one talk about pickleball and other neutral colors.

Curtis Pope 15:30
So pickleball Well, I've never played pickleball Are you serious? I know what? It's funny because like, I know that in the States. Pickleball is huge. Crazy that way here. But it's not.

Michele Cummins - PREC 15:47
So we're gonna talk about today a little bit because what

Curtis Pope 15:50
are you building a pickleball? Court?

Michele Cummins - PREC 15:51
We're talking about the top five home design trends for 2024. Okay,

Curtis Pope 15:55
well, let's find out what the obviously pickleball courts are going to be on this all

Michele Cummins - PREC 15:59
about pickleball and neutral walls pickleball and walls gonna take

Curtis Pope 16:03
up as much space as a tennis court. No,

Michele Cummins - PREC 16:06
it doesn't. And it's so fun. And you could do it with just more people to so it's fun. In fact, the listing I'm going to be listing on Richards avenue that has a huge basketball court, tennis court and pickleball court awesome if you're interested that's coming on the market back on the market later. But yeah, it's all about pickleball is a neutral wall so from warm neutrals, and wood slat walls to personal pickleball courts and a renewed interest in furniture with curves. Designers revealed their favorite home design trends for the new year. So listen up the top five home design trends along with the resolutions for personal and professional growth. The New Year sparks inspiration for renewed spaces to go along with a new attitude. Many of the 2020 threes hottest home trends will carry over into 2024 however, there will be a greater focus on creating rooms that create a warm nostalgic feel no surprise after such a cumbersome and unsettling year that everyone had. Here are the five design trends to keep an eye on in the upcoming year. Neutrals are back. They're back everyone. The rain of the neutral home seemed to be over a few years ago as homeowners embraced boldly hued kitchens. 1980s terrazzo flooring and wallpaper was striking one of the conference however the pendulum is swinging the other way for 2024 As evidenced by Color of the Year from pantones peach fuzz a soft vanilla shade with peachy pink undertones. So Pantone color Institute Executive Director liatris told Time that peach fuzz is meant to evoke feelings of internal tranquility and connection there is something to do with colors, and how we feel we are visual people. And as we enter 2024 Some of the things that have become especially apparent is the concept of lifestyle taking on new meaning. We've been living in this time of turmoil in many aspects of our lives. And as a result of that our need for nurturing empathy and compassion continues to grow stronger as we imagine a more peaceful future. We've been reminded that a vital part of our living a good life and a full life is having the good health and the stamina and the strength to enjoy it. In a world which often emphasizes productivity and external achievement. It's important we recognize the need to foster our inner selves and find moments of respite, creativity and human connection. I mean, does this feel like does it hit home at all? Curtis? Sure it does.

Curtis Pope 18:45
No no does actually. And neutral

Michele Cummins - PREC 18:47
to neutral gloss wearing gloss to neutral walls. And it's fun to have some character but there's so much character in the neutral as well if you think about it and like if you just go on and Google different modern or any kind of style neutral. There's a lot out there if please some people think neutral blah, oh blah. But no, it's

Curtis Pope 19:08
very soothing. Yes, you

Michele Cummins - PREC 19:11
are correct. And there's different types of taupe. So it's really nice. So yeah, so Inman, if you don't know, Inman is a real estate, company, magazine website, they have all sorts of things and, and so they've it's all real estate, so and then get moving with your pickleball court because as you were saying, it's very popular in the States, but it is become very popular here. And I've been seeing it all around and there's this great company in Abbotsford. I'm gonna tag them to this post when we upload it. And they're all about pickleball it's a whole pickleball group. It's so awesome. I've been wanting to go and play with them. And I'm going to take the time

Curtis Pope 19:54
to do my son calls at tennis for old people. Now it's not just for old Oh, that's what he calls it.

Michele Cummins - PREC 19:59
Well, we've got to change his mind on that. Thanks, Dylan.

Curtis Pope 20:02
Thanks for that. He's like not just tennis for old people and like New Year's young people play it to come on. Yeah,

Michele Cummins - PREC 20:06
see until he plays it. He won't know it until you do it. You just don't know it. So don't Don't badmouth it until you you know it. But it does seem like that. And I can understand that because honestly, I did slightly think that myself a little

Curtis Pope 20:21
slower than hitting a tennis ball. I

Michele Cummins - PREC 20:24
get it. But no, it's active. You sweat a lot. Oh, yeah, it's competitive. You're moving. And you just feel more in tune. Although, mind you, I mean, in Southern California, it's all about tennis. And that's what I grew up in. And I love tennis. But you're running from one side to the other side, isn't it? It's like who? This is a bit more of a? I don't know. How do you say it enjoyable sport that you can do with more people? Maybe? I don't know. It's the it feels that way to me when I first played first played. I was hook line and sinker in. I loved it. Okay, so those are really the biggest trends that they're they're talking about as far as 2024 are those two two things so that I wanted to share something with everyone, realtor who's a friend, she's she's a fantastic Realtor with Remax. But REMAX Alder Center. She, her name is Jody Steves. And she was she shared something the other day on social yesterday actually. And I reshard it on mine and I thought because you know why reinvent the real real wheel and in reels too, but it was all about this release from U haul about the stats across Canada for one way moves. And they do it I think once a year but it I found it interesting because I kind of I found that in a lot of my clients and people I know that are moving out of of the Fraser Valley and Lower Mainland and where they're going to and it makes sense. So I wanted to read you this u haul. Well, just the the place is not the whole thing. So Edmonton came in first place.

Curtis Pope 22:04
Did you would you have thought of that? Yeah, that would choose that over Calgary. Yeah,

Michele Cummins - PREC 22:08
Calgary has actually gone up quite a bit in price compared and so Edmonton is still more it's actually more affordable than Calgary

Curtis Pope 22:15
outlying areas, the Sherwood Park, places like that you can still get some reasonable houses to and not be that far out of Edmonton. So yeah, it makes sense.

Michele Cummins - PREC 22:23
Yeah, no wonder I mean, I know a lot of realtors and a lot of areas good realtors, because I've honed in and became friends with them and got to know them over the years and I have a realtor who just does Sherwood Park, that's her area. And then I've got Sarah colicky, who does all the other areas of Edmonton as well. And I have been sending her quite a few clients who are moving there and it's just amazing. Yeah, so that's what u haul is said and, and who better to know than u haul? Right? I mean, they've got a hold on that market. Hey, when you think of oh, I want to move and you're not going to hire a moving company. You're going to hire U haul you know it's

Curtis Pope 23:01
like become a brand to itself. Like like Kleenex. Exactly. Pass me the facial tissue. You see past me a Kleenex. Well, if you're gonna rent a truck, you're gonna rent a U haul truck. Right? Exactly. And

Michele Cummins - PREC 23:12
it's not exact because of course you're also hiring companies to move for you but it gives you a really good indication so Okay, Edmonton came in first receiving the most one way moves in Canada for 2023 in British Columbia, and the second place is New Brunswick coming in third place. Fourth is Saskatchewan. Fourth is Quebec. Sixth is Prince Edward Island, seventh Newfoundland. Ace is Manitoba. Ninth is Nova Scotia 10th is Ontario. So that's the top 10. But the number one if you think of Canada, so this it's in BC, sorry, it's Edmonton. Across Canada, that's where most people are moving to. So yeah, so if you're looking to relocate across Canada, feel free to reach out to me and I can connect you with any one of my amazing agents across Canada. And I know quite a few in the States as well. But yeah, so that was the the that report I thought was quite interesting. And then I wanted to because remember I was saying that the new listings are starting to come in. It's just mid January and even when I was in Oregon, they were calling me about already preparing to to list and psych Wow, it's like New Year's and boom, people were ready and people were gonna start hopefully seeing more listings at the market but I have an open house today. Cold as it may be. Open House today and tomorrow and my new listing and Agassi it's at 1510 Mackay crescent, it's across from the park. It's back lane axis detached garage. It's a detached home okay with with all of that. It has AC a vaulted ceiling. It's cute, cute, cute. It's five bedrooms and four bathrooms and it's got a new roof. And I actually have Kelly Robertson hosting the open house for us today and tomorrow from two to four. She was on the radio show last weekend. If you listen do that show. That's Kelly Robertson and she's going to be there. And then next Tuesday hitting the market. I have a two bedroom, three bathroom townhouse in Michigan. It's in a 55 plus small cute complex off Chicago Z court. It's got a private setting in the backyard. It's got a nice covered sundeck coke sundecks. It's covered but it's got skylights in the deck over the back. And it's, it's all renovated. It's quite nice and in neutral colors, and the price on that and full basement, partly finished, she has it as a huge, beautiful, awesome creative space. She has a workshop there and she's an artist and creates and hobby room. It's really nice 708,000 For that one in Scott, three bathrooms half bath on the main full bathroom upstairs, and then a bathroom downstairs in the basement. And then I've got another new listing coming in next week. Now this one's up at Sasquatch mountain. It's in a four Plex. And it's unit number three at 2668. At a wise I shouldn't say unit because it's a four Plex it's not strata, okay? So it's got great windows all over the place. It's what you want. When you go to Sasquatch and you want to have an Airbnb, or live there full time, you can do short term rentals there. So if you're an investor, and having to sell your properties, maybe you have right now because January 1, the new rules about short term rentals, you're not allowed to do it unless it's your primary residence or it's in a population of 10,000 or less. Or it's a resort zone. This is the place for you. It's only 539,900. That's going to be listed next week. And yeah, so that's it. And I've got a quote this week, of course. So it's the only time you fail, is when you quit. So it doesn't matter. Just try and try and do and do and live your life and never say or never think that you failed on something. You will because you only fail if you actually quit.

Curtis Pope 27:06
Oh no, I failed grade eight math. I didn't quit. Actually, no, I had to go to summer school and I passed You're right. So I didn't. I did end up getting the okay

Michele Cummins - PREC 27:15
look at all the relationships you probably gained from the experience of going to summer school. Oh yeah, that was fun. The people you met your experience. It made you stronger as a human being it like there's all whenever something seems to be wrong or go wrong or not go the way you wanted it to go or whatever. If you really, you know, there's good things that happen. There's always the reason why I

Curtis Pope 27:37
loved being at school at 830 in the morning when I was 14 for half a summer break.

Michele Cummins - PREC 27:42
Wow, I know. Yeah, that's so I was I had a broker conference broker retreat for REMAX. It was in Harrison hot springs. And Thursday I was driving out there. I know that's why I didn't stay at the hotel. I live so close. So I'm driving there in the morning and at 8:30am and the kids are already in the school there I'm seeing through the window the kids already they're already learning I'm allow early birds. early bird gets the worm.

Curtis Pope 28:09
Absolutely. Well if people want more information about what you do as a realtor, maybe look at the stats. We talked about the first half of the show, where can they go

Michele Cummins - PREC 28:16
REMAX Magnolia

Curtis Pope 28:18
And join us again next week when we will talk real estate in order to unlock your real estate potential on the show where real estate is maximized. Thanks for listening

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