Langley houses got more expensive and apartment sales kept going up in June.
Statistics released from the Fraser Valley Real Estate Board (FVREB) showed that the average price of a detached home in Langley was $1,038,518 in June, up two per cent from May and 10.1 per cent from a year ago.
The benchmark price (the price of a “typical” home) was not far behind, at $950,800.
But fewer detached houses are selling. There were 171 sales of detached houses in Langley in June, down from 183 in May and 202 in June of last year.
Meanwhile, townhouse sales also declined.
The average townhouse was $532,858 in June, down 1.7 per cent from the month before, but still up 15.1 per cent from June of last year. The benchmarke price was $449,600, down 3.2 per cent from May but up 10.1 per cent from a year ago.
Condos were the only market where sales in Langley went up, with 121 condos selling compared to 116 last month, and 116 in June of last year.
The averge condo price is below the benchmark price. The average cost is $326,744, while the benchmark is $328,800.
The average price is up 29.8 per cent compared to a year ago, and 1.6 per cent from last month.
The benchmark price is up 37.6 per cent year over year.
The increae in condo sales is not confined to the Langleys.
There were 683 condo sales in the Fraser Valley area, from North Delta to Abbotsford and Mission, over June.
That’s a new record, and made up 27 per cent of all home sales, according to Gopal Sahota, president of the FVREB.
“We knew that there was a growing appetite for our attached properties, but this month was exceptional,” said Sahota.
Last month was the first that the average price of a detached home in Langley was above $1 million.
Homes across Langley are often going for well over $1 million.
There are four homes on the Multiple Listing Service as of this week asking more than $10 million. They are all on larger rural pieces of property, and those near Brookswood or Aldergrove are slated for possible redevelopment.