Townhouses for sale in the Willoughby neighbourhood of Langley on Dec. 2, 2020. (Matthew Claxton/Langley Advance Times)

Townhouses for sale in the Willoughby neighbourhood of Langley on Dec. 2, 2020. (Matthew Claxton/Langley Advance Times)

Houses selling fast in Langley in November

Real estate markets continued to see high sales and rising prices

The manic pace of real estate sales in Langley and its neighbours continued through November – and even into December, according to a local realtor.

“It has not slowed down, whatsoever,” said Garry Voight of Royal LePage Wolstoncroft.

Single family homes, in particular, remain in extremely high demand.

While there’s more houses for sale than a couple years ago, when the market dipped for about 18 months, there are a lot more buyers, largely drawn by a combination of low interest rates and a need for more space for home offices, Voight believes.

The most recent statistics from the Fraser Valley Real Estate Board (FVREB) show that the demand is starting to affect home prices in Langley.

The price of a single-family home in Langley has gone sharply upward in recent months as the real estate market has been extremely busy despite the COVID-19 pandemic.

The benchmark price of a detached house in Langley was $1,115,200 in November, according to statistics released Dec. 2 by the FVREB.

That’s up 12.6 per cent from the same month a year ago, when the benchmark price – the average price for a typical single family home – was $990,300.

There were 143 sales of single-family homes in Langley in November, a 74.4 per cent increase compared to November 2019.

The price increases come after months of stronger-than-average sales through what is usually a quiet time in the real estate market.

Because of the near-shutdown in activity in March, April, and early May in the Lower Mainland, there were very few home sales in the spring.

READ ALSO: Fewer homes for sale as buyers swoop on Langley properties

Sales bounced back starting in the early summer, but has not really abated.

Voight said even restrictions on open houses – which have essentially ended in recent weeks as COVID-19 restrictions ramped up – haven’t stopped the buying.

Buyers have gotten used to either virtual tours, or to going in wearing masks, gloves, and doused in hand sanitizer for no-touch visits, Voight said.

“We’re running out of superlatives,” said Chris Shields, FVREB president. “We expected November activity to moderate due to the season, but the desire for family-sized homes and their benefits continues to dominate. Since the summer, we’ve seen the strongest demand in our board’s 99-year history specifically for single-family detached and townhomes.”

While demand remained high, there was less supply of houses in Langley.

The number of homes listed for sale feel to 167, down 44 per cent from November of last year, and down 23.4 per cent from this October.

While demand was also up year-over-year for townhouses and condos, prices were not rising as fast, and more properties were coming on the market.

There were 121 townhouses sales in November, a 28.7 per cent increase over the year before. The benchmark price in Langley hit $579,200, a five per cent year-over-year increase. The number of homes for sale was up slightly compared to last year.

Condos saw the biggest single jump in year-over-year sales among the three housing categories.

There were 127 sales of condos in November in Langley, a 95.4 per cent jump from the same month in 2019.

The benchmark price was $398,000, up 5.2 per cent from a year earlier.

While detached houses are in short supply and townhouses remained steady, a lot more condos came onto the market.

There were 346 active listings in November, up 28.6 per cent from the same month a year ago, and only down 11.5 per cent from October. There were 164 new listings just this month, a 72.6 per cent jump from a year earlier.

Fraser ValleyLangleyReal estate

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

Just Posted

RCMP were called to the 5600 block of 201A Street just after midnight on Monday were they found a 27-year-old man in an underground parking garage who had sustained multiple shot wounds. (Lisa Farquharson/Langley Advance Times)
27-year-old taken to hospital after overnight targeted shooting in Langley

RCMP have not confirmed the incident is link to the Lower Mainland gang conflict

Local letter writer expects more people turning to prayer during pandemic. (File photo)
LETTER: More people likely turn to prayer during pandemic, Langley man contends

Pandemic, politics and the economy are giving people reason to call on a higher power, he writes

Langley’s Julie Vantol shared this picture of her “intrepid” three-year-old son Jonas cycling along the shores fo the Fraser River on a recent sunny winter day. “Great day for a bike ride along the beach at Derby Reach trailhead, at 208th,” with the snow covered mountains in the background, she said. (Special to Langley Advance Times)
SHARE: Perfect biking weather?

Send us your photo showing how you view Langley, and it could be featured in a future edition

Jeff Laurie made a trip to Derby Reach Regional Park, following the recent flooding. He was most impressed with how the water on the trail offered some great reflections. (Special to Langley Advance Times)
SHARE: Flooding leads to reflection

Send us your photo showing how you view Langley, and it could be featured in a future edition

Fort Langley’s Wout Brouwer captured this picture of McMillan Island from the opposite shore of the Bedford Channel on Saturday, Jan. 16. (Special to the Langley Advance Times)
SHARE: Maple Ridge mountaintops backdrop former Ridge church

Send us your photo showing how you view Langley, and it could be featured in a future edition

A scene from “Canada and the Gulf War: In their own words,” a video by The Memory Project, a program of Historica Canada, is shown in this undated illustration. THE CANADIAN PRESS/HO - Historica Canada
New video marks Canada’s contributions to first Gulf War on 30th anniversary

Veterans Affairs Canada says around 4,500 Canadian military personnel served during the war

U.S. military units march in front of the Capitol, Monday, Jan. 18, 2021 in Washington, as they rehearse for President-elect Joe Biden’s inauguration ceremony, which will be held at the Capitol on Wednesday. (AP Photo/J. Scott Applewhite)
Biden aims for unifying speech at daunting moment for U.S.

President Donald Trump won’t be there to hear it

Williams Lake physician Dr. Ivan Scrooby and medical graduate student Vionarica Gusti hold up the COSMIC Bubble Helmet. Both are part of the non-profit organization COSMIC Medical which has come together to develop devices for treating patients with COVID-19. (Monica Lamb-Yorski photo - Williams Lake Tribune)
Group of B.C. doctors, engineers developing ‘bubble helmet’ for COVID-19 patients

The helmet could support several patients at once, says the group

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
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

A 17-year-old snowmobiler used his backcountry survival sense in preparation to spend the night on the mountain near 100 Mile House Saturday, Jan. 16, 2021 after getting lost. (South Cariboo Search and Rescue Facebook photo)
Teen praised for backcountry survival skills after getting lost in B.C.’s Cariboo mountains

“This young man did everything right after things went wrong.”

Conservative Leader Erin O’Toole holds a press conference on Parliament Hill, in Ottawa on December 10, 2020. THE CANADIAN PRESS/Sean Kilpatrick
No place for ‘far right’ in Conservative Party, Erin O’Toole says

O’Toole condemned the Capitol attack as ‘horrifying’ and sought to distance himself and the Tories from Trumpism

A passer by walks in High Park, in Toronto, Thursday, Jan. 14, 2021. This workweek will kick off with what’s fabled to be the most depressing day of the year, during one of the darkest eras in recent history. THE CANADIAN PRESS/Chris Young
‘Blue Monday’ getting you down? Exercise may be the cure, say experts

Many jurisdictions are tightening restrictions to curb soaring COVID-19 case counts

Pindie Dhaliwal, one of the organizers for the Surrey Challo protest for Indian farmers. She says organizers were told by Surrey RCMP that the event was not allowed due to COVID-19. Organizers ended up moving the protest to Strawberry Hill at the last minute. (Photo: Lauren Collins)
Indian farmers rally moves as organizers say Surrey RCMP told them they couldn’t gather

Protest originally planned in Cloverdale, moved to Strawberry Hill

A health-care worker prepares a dose of the Pfizer-BioNTech COVID-19 vaccine at a UHN COVID-19 vaccine clinic in Toronto on Thursday, January 7, 2021. THE CANADIAN PRESS/Nathan Denette
COVID-19: Provinces work on revised plans as Pfizer-BioNTech shipments to slow down

Anita Anand said she understands and shares Canadians’ concerns about the drug company’s decision

Most Read