Autumn home sales trending up in Langley

Prices are still flat or down for homes compared to last year

The real estate recovery continued in November in Langley and around the region, according to statistics released by the Fraser Valley Real Estate Board.

Demand for housing is “unseasonably high” this fall after a slump that began in earnest in early 2018 and carried through this past spring and summer.

November saw 1,405 sales of all types of homes in the Fraser Valley region, up 36.7 per cent compared to the 1,028 home sales in the same month in 2018.

In Langley, sales of detached homes and townhouses were up compared to next years, while condo sales slipped slightly.

There were 82 sales of detached homes, up from 63 in the same month in 2018. Townhouse sales were up even more, with 94 sales, a 32.4 per cent increase. Condo sales slipped to 65, down 7.1 per cent.

Prices, as they have for the past several months, were stagnant or down slightly from last year.

The benchmark price for a detached house in Langley was $990300, barely changed from October and down 1.8 per cent from 2018.

The benchmark for a townhouse stood at $490,400, down 1.3 per cent from a year ago, and the price of a condo declined 3.9 per cent year-over-year, to $399,200.

The number of new homes listed for sale has been falling in Langley and its neighbours in recent months.

There were 6,733 active listings in the region at the end of November, down 8.5 per cent from a year ago.

Although prices are still going down or flat, they’ve bounced back a bit from deeper lows earlier this year.

“Buyers are seeing the effect tighter supply has on prices,” said David Germyn, president of the FVREB. “In early summer, the combined residential benchmark price was down six per cent compared to the same period last year; in November it was down by three per cent.”

BusinessHousingLangleyReal estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Virus prompts Langley Camera Club members to refocus

Technology has kept local shutterbugs connected and broadened their horizons

Langley-based charity Wellspring encourages virtual participation for Lake2Lake ride this weekend

Annual 200 km cycle across the Okanagan and Shuswap raises funds for Rwanda relief

Altercation with gunfire in Langley lands two in hospital

Quiet area of Brookswood was awoken at 5 a.m. Friday morning to a fight involving gun shots

PHOTOS: One injured in shooting on South Surrey-Langley border

Shots reported near 194 Street and 34 Avenue, burned-out vehicle found in 18100-block of 12 Avenue

New Langley highway interchange site of morning crash

Motorists are encouraged to find another route for the rushhour

3 new deaths due to COVID-19 in B.C., 139 new cases

B.C. confirms 40 ‘historic cases,’ as well

Emaciated grizzly found dead on central B.C. coast as low salmon count sparks concern

Grizzly was found on Gwa’sala-‘Nakwaxda’xw territory in Smith Inlet, 60K north of Port Hardy

VIDEO: B.C. to launch mouth-rinse COVID-19 test for kids

Test involves swishing and gargling saline in mouth and no deep-nasal swab

Young Canadians have curtailed vaping during pandemic, survey finds

The survey funded by Heart & Stroke also found the decrease in vaping frequency is most notable in British Columbia and Ontario

B.C. teachers file Labour Relations Board application over COVID-19 classroom concerns

The application comes as B.C.’s second week of the new school year comes to a close

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

CHARTS: Beyond Metro Vancouver, COVID-19 cases in B.C. haven’t increased much recently

COVID-19 case counts outside of Metro Vancouver have been level since July

70-year-old punched in the head in dispute over disability parking space in Nanaimo

Senior’s turban knocked off in incident at mall parking lot

Machine pistol among 14 firearms seized from Alaska man at B.C. border crossing

Corey Scott Kettering faces charges of smuggling and prohibited firearm possession

Most Read