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

Langley’s own Vancouver Giants fall in Prairies during overtime

G-Men fell 6-5 to the Brandon Wheat Kings Friday night.

Body located near Langley fire

A corpse was found near a mall off the Langley Bypass Friday morning.

Rainfall warning issued across Lower Mainland into the weekend

50 to 70 mm of rain expected to fall starting overnight Friday and into Sunday morning

EXCLUSIVE: Surrey collecting fees on more than 2,400 illegal suites, documents reveal

That works out to more than $1 million in fees collected annually

City names new tourism agency

Discover Langley City will replace the partnership with Tourism Langley.

VIDEO: Langley preps for ‘the big one’

The annual Great British Columbia Shakeout was observed around Langley.

Man in custody linked police search near Salmon Arm

Police have not connected arrest to search at Salmon River Road property

B.C. search groups mobilize for missing mushroom picker

Searchers from across the province look for Frances Brown who has been missing since Oct. 14.

Search for missing B.C. man a race against winter weather

David Jeff of Williams Lake was last seen in Kamloops during the chaotic wildfire evacuations

Man steals police car, goes for a ‘slow’ ride

Mission RCMP say the motive of the theft is unknown

Dodgers punch ticket to World Series

This will be the first time the Los Angles Dodgers have made it to the World Series since 1988.

Surf group winning the war on plastic bags

The Tofino Co-op will no longer provide plastic bags, following in the footsteps of the Ucluelet location that already made the change earlier this year.

All three victims identified in Fernie arena ammonia leak

Wayne Hornquist and Lloyd Smith were from Fernie and Jason Podloski from Turner Valley, Alta

5 to start your day

Sentencing in murder of Surrey teen expected, Maple Ridge mayor to step away from politics and more

Most Read