Marie Taverna & Kim Taverna : Royal LePage West Real Estate Services : Archived blog posts for : August 2025

Preventative care hacks:

Posted on August 5, 2025 by Marie Taverna

small tasks that save big on repairs

Home ownership comes with its share of responsibilities, but some of the most important tasks are the small ones that often go unnoticed. Taking just a few minutes to complete simple maintenance tasks can save you from costly repairs later on. Here are some quick and easy hacks that can help keep your home in top shape.

Lubricate door hinges

Squeaky doors? A little lubricant on the hinges can prevent wear and tear, saving you from having to replace them down the road. A quick spray of WD-40 or a dab of olive oil keeps everything running smoothly.

Clean refrigerator coils

Over time, dust and dirt can build up on your fridge’s condenser coils, causing it to work harder and wear out faster. Spend a few minutes vacuuming or wiping down the coils twice a year to improve efficiency and extend its lifespan.

Tighten cabinet hardware

Loose knobs or handles on cabinets may seem like a small issue, but they can cause damage over time. Tightening screws periodically prevents them from loosening further and damaging the wood or hinges.

Check caulking and sealants

Check your bathroom and kitchen for any cracks or worn-out caulking around sinks, tubs and windows. Resealing them can prevent water damage, mould and costly repairs down the road.

These small steps can keep your home running smoothly and prevent bigger issues that could end up costing you a lot more in the long run.

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Fraser Valley Stats July 2025

Posted on August 5, 2025 by Marie Taverna

SURREY, BC – Market conditions are ideal for Fraser Valley home buyers this summer, but the persistent gap between buyers’ and sellers’ price expectations continues to suppress sales.

The Fraser Valley Real Estate Board recorded 1,190 sales on its Multiple Listing Service® (MLS®) in July, down half a per cent from June and down three per cent year-over-year. July sales were 23 per cent below the 10-year average.

The supply of homes for sale dipped slightly in July, down two per cent from June to 10,650, nearly 50 per cent above the 10-year seasonal average. New listings declined five per cent over June to 3,453. The Fraser Valley remains in a buyer’s market with an overall sales-to-active listings ratio of 11 per cent; the market is considered balanced when the ratio is between 12 per cent and 20 per cent.

“Home sellers are having to work harder than they did a year or two ago,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “In a market where buyers are cautious and have ample choice, successful sellers are going the extra mile to meet buyers where they’re at—staging their home, handling repairs up front, and most importantly, pricing their homes realistically for the current market conditions.”

Across the Fraser Valley in July, the average number of days to sell both a single-family detached home and a condo was 38 days. Townhomes took, on average, 35 days to sell.

“The housing market, like other sectors, continues to process the effects of the ongoing tariff threats,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “The slowdown in home sales this spring and summer has largely been driven by uncertainty and fear. Buyers and sellers are taking measures to offset the anticipated impacts, knowing that the economic effects of tariffs will likely take some time to be fully realized throughout the system.”

The composite Benchmark price in the Fraser Valley decreased 0.7 per cent in July, to $944,800.

To read the full statistics package, click here.

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Sales recovery continues in July

Posted on August 5, 2025 by Marie Taverna

Home sales registered on the MLS® across Metro Vancouver in July extended the early signs of recovery that emerged in June, now down just two per cent from July of last year.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,286 in July 2025, a two per cent decrease from the 2,333 sales recorded in July 2024. This was 13.9 per cent below the 10-year seasonal average (2,656).

“The June data showed early signs of sales activity in the region turning a corner, and these latest figures for July are confirming this emerging trend,” said Andrew Lis, GVR’s director of economics and data analytics. “Although the Bank of Canada held the policy rate steady in July, this decision could help bolster sales activity by providing more certainty surrounding borrowing costs at a time where economic uncertainty lingers due to ongoing trade negotiations with the USA.”

There were 5,642 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2025. This represents a 0.8 per cent increase compared to the 5,597 properties listed in July 2024. This was 12.4 per cent above the 10-year seasonal average (5,018).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 17,168, a 19.8 per cent increase compared to July 2024 (14,326). This is 40.2 per cent above the 10-year seasonal average (12,249).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for July 2025 is 13.8 per cent. By property type, the ratio is 10.2 per cent for detached homes, 16.7 per cent for attached, and 15.9 per cent for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“With the rate of homes coming to market holding steady in July, the inventory of homes available for sale on the MLS® has stabilized at around 17,000. This level of inventory provides buyers plenty of selection to choose from,” Lis said. “Although sales activity is now recovering, this healthy level of inventory is sufficient to keep home prices trending sideways over the short term as supply and demand remain relatively balanced. However, if the recovery in sales activity accelerates, these favorable conditions for home buyers may begin slowly slipping away, as inventory levels decline, and home sellers gain more bargaining power.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,165,300. This represents a 2.7 per cent decrease over July 2024 and a 0.7 per cent decrease compared to June 2025.

Sales of detached homes in July 2025 reached 660, a 4.1 per cent decrease from the 688 detached sales recorded in July 2024. The benchmark price for a detached home is $1,974,400. This represents a 3.6 per cent decrease from July 2024 and a 1 per cent decrease compared to June 2025.

Sales of apartment homes reached 1,158 in July 2025, a 2.9 per cent decrease compared to the 1,192 sales in July 2024. The benchmark price of an apartment home is $743,700. This represents a 3.2 per cent decrease from July 2024 and a 0.6 per cent decrease compared to June 2025.

Attached home sales in July 2025 totalled 459, a five per cent increase compared to the 437 sales in July 2024. The benchmark price of a townhouse is $1,099,200. This represents a 2.3 per cent decrease from July 2024 and a 0.4 per cent decrease compared to June 2025. 

Download GVR's July 2025 MLS® Housing Market Report

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Helping You

Posted on August 5, 2025 by Marie Taverna

With Your Home Purchase - Needs and want

With an appreciation of what you can afford, determine your needs and wants within your home purchase price range:

Consider your current lifestyle as well as any lifestyle changes you foresee longer term.

Select an urban, suburban or rural location that best serves the needs of your evolving lifestyle.

Choose neighbourhoods in close proximity to the amenities that are most important to you like schools, shopping, entertainment, recreation and transportation.

Consider your commute times to work, school, friends and family.

Determine the size of home you require, such as the minimum number of bedrooms, as well as any other space requirements, like room for a home office.

Understand the home features most important to you, such as additional bathrooms or a large yard.

Decide on a property type that suits your lifestyle, needs and finances whether condo, townhouse, single or multi-family dwelling.

Ask for Help:

We can help you validate your needs and wants in light of current market conditions. Put our expertise to work for you and learn more about these steps in your home purchase.

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Helping You

Posted on August 5, 2025 by Marie Taverna

With Your Home Purchase - Financing

Organizing your finances is the critical first step in your home purchase:

Consider the one-time costs associated with a home purchase, including a down payment, legal fees, taxes and moving expenses.

Understand ongoing monthly costs, including mortgage payments, insurance, utilities, property taxes, maintenance and, if applicable, condo fees.

Take into account the equity you may have in your current home and the applicable mortgage options available for your next move.

Pre-qualifying for a mortgage gives you the comfort of knowing how much you can afford and what your monthly payments will be.

A pre-approval from a mortgage lender protects you against interest rate increases for a given period during your home search.

Ask for Help:

We can help provide you with tools and resources to organize your finances.

Put our expertise to work for you and learn more about these steps in your home purchase.

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