Langley homes break away from pack


Langley was the odd city out in July, as the average price of a home spiked sharply here while staying relatively steady across the rest of the Fraser Valley.

The Fraser Valley Real Estate Board (FVREB) released sales statistics showing a strong month for sales of most types of housing.

“Our market has fully recovered from last year’s slump and has returned to what we typically see in the Fraser Valley, which is a steady, consistent market,” said FVREB president Ray Werger.

Home sales were slightly above average for the month in the FVREB area, which stretches from North Delta east through Abbotsford, and includes Mission.

Werger said for certain property types, there is actually a shortage of supply, including in White Rock, South Surrey, and parts of Langley. Single detached homes are the focus of the reduced supply.

In Langley, 131 detached houses changed hands in July, compared to 133 in July 2013. Prices rose substantially, however.

The average price was up to $620,000, from $525,000 a year ago, an 18.1 per cent rise. The median price also rose 18 per cent, while the price of a “benchmark” house, or typical home, rose by just three per cent.

Meanwhile sales of townhouses more than doubled to 89 this July from 42 in July 2013, and condo sales were also up, to 42 from 35.

Average prices of condos and townhouses also rose, while the benchmark prices rose for townhouses to $293,700 from $285,200, and the benchmark price for condos was essentially flat at $208,200.

Just Posted

Langley goes Hollywood

Red carpet fundraiser for ER campaign

Langley pedophile wins appeal after violating court order

Kelly Glen Isbister’s sentence was cut by the BC Court of Appeal

Neighbour recounts ‘fifteen minutes of insanity’ after deck collapses at Aldergrove wedding

Local resident Charles Ford ran over to the dozens wounded, along with many other neighbours

High school mechanics get ‘huge head start’

The ACSS apprentices will showcase their work at this year’s Country Car Show in Aldergrove.

$18 million Aldergrove amenity seen as unfair for other Township communities

An unanimous council voted in favour of Councillor Eric Woodward’s policy to provide downtown Aldergrove with more resources.

What’s age got to do with it? B.C. couple with 45-year gap talks happy marriage

An Armstrong couple that has 45-year age gap began turning heads after being featured on show Extreme Love.

WATCH: South Vancouver Island shooting an ‘isolated and targeted’ incident, say police

One person in custody, another fled following shooting and crash on West Shore

Woe, Canada: Bruins down Maple Leafs 5-1 in Game 7

No Canadian teams left in Stanley Cup playoffs

Defence accuses officer of ‘incompetence’ in trial for B.C. man accused in daughters’ murder

Double murder trial for the Victoria father accused of killing his two young daughters continues

Should B.C. parents receive money if they make sure their kids are vaccinated?

New survey looks at public opinion around government’s role in forcing immunizations

Loud jets from Abbotsford are annoying residents of tiny U.S. town

Flights out of Abbotsford airport turn over border town and annoy residents, Sumas mayor says

B.C. men challenge constitutionality of Canada’s secret no-fly list

Parvkar Singh Dulai says he received a “denial of boarding” notification under the no-fly program last May 17

Murder on B.C. property didn’t need to be disclosed before sale, court rules

Buyer had tried to break contract after learning a man with ties to crime had been murdered there

VIDEO: Spiderman-clad Lamborghini makes pit stop in Abbotsford ahead of Avengers premiere

Highstreet Shopping Centre displaying unique car during Friday’s opening of Marvel movie

Most Read