Houses are still selling

Housing sales diverge in Langley

House sales continued to decline compared to other types.

Housing sales continued to fall while condo sales grew both in Langley and around the Fraser Valley in November.

Statistics released by the Fraser Valley Real Estate Board (FVREB) showed that the drop in sales of detached houses continued.

In November 82 houses changed hands, down 25.5 per cent from the same month in 2015. Townhouses sales were at 72, down 7.7 per cent.

Condo sales jumped by 27.3 per cent, year over year, with 70 condos selling this November.

The benchmark price of a detached home in Langley remained historically high, at $871,600, but dropped slightly from $881,600 in October. It is still up 30.8 per cent from a year ago.

Benchmark townhouse prices are also up, 35.3 per cent to $437,100 from prices a year ago, while condos jumped 27.3 per cent to $265,800.

FVREB president Charles Wiebe said the last four months represented a slow return to “a more normal market for sales and listing activity.”

The FVREB covers North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission.

Sales patterns were similar in the rest of the Lower Mainland.

 

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