Langley home sales still sizzling into fall

September saw plenty of homes changing hands.

September home sales in Langley jumped sharply compared to a year ago, according to statistics released Oct. 3 by the Fraser Valley Real Estate Board.

The FVREB’s monthly report showed that 286 residential properties changed hands in September this year, compared to 215 in the same month in 2016.

There were 110 sales of detached houses, a 20.9 per cent increase year-over-year, 94 townhouses for a 42.4 per cent increase, and 82 condos, for a 41.4 per cent increase.

The prices of all three types of housing remain considerably higher than they were a year ago, though little changed from August.

The average price of a single family home in Langley remains just above $1 million. The benchmark price – the price the FVREB calculates is average for a “typical” home – is $999,800.

The average price for a townhouse is $558,309, and the benchmark is $465,200.

Condos are selling for an average price of $337,509, while the benchmark rate is actually higher, at $368,500.

The average home price is up 12.7 per cent year over year, the average townhouse price up 26.8 per cent, and the average condo price up 22.8 per cent.

Across the region, which runs from North Delta to Abbotsford and Mission, September sales were 24.1 per cent higher than in the same month in 2016.

“Often we see summer demand continue as far as October, so it’s not unusual to have another strong month before the seasonal cool down,” said FVREB board president Gopal Sahota. “What’s unusual this year is that attached inventory sales are still driving the market despite the increased competition we’re seeing there.”

He said that attached houses are returning to a “balanced” market, with prices remaining stable and listings staying on the market longer, for 29 days on average. But condos sell in an average of 19 days, and townhouses in 18 days.

Just Posted

Small trailer clips cop while he’s watching for distracted drivers

A member of the Integrated Road Safety Unit was slightly injured Monday afternoon in Langley City.

Terri Clark in Langley to celebrate upcoming duet with Dallas Smith

These two country music celebrities were sharing a drink at Cactus Club today.

Pro Langley boxers heads to Poland for world championships

Langley Boxing Club’s own Sarah Pucek, now in the professional ring, prepares to dethrone champ.

Langley arena invites people in for a little jab

Stop by the Langley Events Centre Thursday to donate blood.

Last skate at Aldergrove Arena

Aldergrove residents get their final skate around the 45 year old rink

Ottawa proposes restricted pot labels, packages

Packaging will include red stop sign with marijuana leaf and ‘THC’

Pro-Trump protest sign with F-word is OK, court rules

Judges say Ontario man can protest publicly, even using vulgar language

Body of missing Australian woman found in Whistler lake

RCMP say they do not suspect foul play in Allison Raspa’s death

YVR wants you to help name three new puppies

Say hello to the Vancouver Airport’s new assistance pups

Speculation tax causing concern at Cultus Lake, Harrison Hot Springs

Recreational property owners face hefty bill for 2019 for what some call a ‘wealth’ tax

Suspect who attacked autistic man in Ontario could be from B.C.’s south coast: police

29-year-old man was sent to hospital with serious injuries

Privacy watchdog to explore Facebook leak

Canadian expert says his analytics company helped Trump campaign capitalize on private Facebook info

Wasn’t that a St. Patrick’s party in Aldergrove!

A full house enjoyed the Irish Ceilidh style St. Patrick’s Day party at the historic Coghlan Hall

Woman struck and killed by self-driving Uber vehicle

Ride-hailing company suspends all road-testing of such vehicles in U.S. and Canada

Most Read