Townhouse Sales in Langley Remained Strong in September
[alert type=”info” dismiss=””]This article is optimized for Accelerated Mobile Pages (AMP)[/alert]
SEPTEMBER 2017 STATISTICS REPORT
Langley Real Estate Report
Townhouse and apartment sales remain strong through September, representing 53% of the market activity. Sales were down 13.8% compared to August 2017, but were up 24.1% from September 2016. This September was the 5th highest sales total for a September in the Fraser Valley Board’s history.
The market does seem to be returning to a more balanced market for detached homes, as the pricing remains stable and competition has simmered. Detached listings are staying on market longer, an average of 29 days, giving detached home buyers a better opportunity to find the home of their dreams.
It is still very much a sellers market for attached homes – townhouses and apartments. If you’d like assistance with your home search or to list your property, give us a call, we’d be happy to help.
If you are considering selling or just have questions about the market, please give us a call today and let’s chat.
See last months statistics –>> https://schreders.ca/demand-townhomes-condos-fraser-valley/
Click These Buttons To Jump To That Areas Summary
– – – – – – – –
.
All Fraser Valley Areas Combined
Abbotsford – Mission – White Rock – Langley – Delta/North – Surrey Central – Cloverdale – Surrey/North
Click These Buttons To Jump To That Areas Summary
– – – – – – – –
Abbotsford
Click These Buttons To Jump To That Areas Summary
– – – – – – – –
Mission
Click These Buttons To Jump To That Areas Summary
– – – – – – – –
White Rock
Click These Buttons To Jump To That Areas Summary
– – – – – – – –
Langley
Click These Buttons To Jump To That Areas Summary
– – – – – – – –
Delta – North
Click These Buttons To Jump To That Areas Summary
– – – – – – – –
Surrey – Central
Click These Buttons To Jump To That Areas Summary
– – – – – – – –
Surrey – Cloverdale
Click These Buttons To Jump To That Areas Summary
– – – – – – – –
Surrey – North
[ngg_images source=”galleries” container_ids=”5″ display_type=”photocrati-nextgen_basic_thumbnails” override_thumbnail_settings=”0″ thumbnail_width=”240″ thumbnail_height=”160″ thumbnail_crop=”1″ images_per_page=”20″ number_of_columns=”0″ ajax_pagination=”0″ show_all_in_lightbox=”0″ use_imagebrowser_effect=”0″ show_slideshow_link=”1″ slideshow_link_text=”[Show slideshow]” order_by=”sortorder” order_direction=”ASC” returns=”included” maximum_entity_count=”500″]
What Does FVREB Have To Say?
Demand for Fraser Valley homes remains unchanged despite change of season
SURREY, BC – Residential property sales in the Fraser Valley remained strong in September, with both attached and detached homes performing well throughout the region.
The Fraser Valley Real Estate Board processed 1,619 sales of all property types on its Multiple Listing Service® (MLS®) in September, an increase of 24.1 per cent compared to the 1,305 sales in September of last year, and a 13.8 per cent decrease compared to the 1,879 sales in August 2017. This was the fifth highest sales total for a September in the Board’s history.
Of the total sales processed 392 were townhouses and 470 were apartments, together representing 53% of market activity in September.
“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 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.”
Last month the total active inventory for the Fraser Valley was 5,854 listings. Active inventory increased by 2.5 per cent month-over-month, and decreased 8.8 per cent when compared to September 2016.
The Board received 2,848 new listings in September, an 8.2 per cent decrease from August 2017, and a 5.1 per cent increase compared to September 2016’s 2,709 new listings.
“It’s also interesting to observe the return to a balanced market for detached homes here in the Valley,” continued Sahota. “While pricing remains stable, competition for houses has simmered and listings are staying on market longer. If you were waiting to make a move or upgrade, now might be a good time to talk to your REALTOR® and see what’s out there.”
For the Fraser Valley region the average number of days to sell an apartment in September was 19 days, and 18 days for townhomes. Single family detached homes remained on market for an average of 29 days before selling.
HPI® Benchmark Price Activity
- Single Family Detached: At $974,500, the Benchmark price for a single family detached home in the Valley decreased 0.2 per cent compared to August 2017, and increased 11.2 per cent compared to September 2016.
- Townhomes: At $498,900 the Benchmark price for a townhome in the Fraser Valley increased 1.4 per cent compared to August 2017, and increased 17.7 per cent compared to September 2016.
- Apartments: At $358,200, the Benchmark price for apartments/condos in the Fraser Valley increased 2.5 per cent compared to August 2017, and increased 35.2 per cent compared to September 2016.
Find the September Statistics Package here.
Get The Full Monthly Statistics Package
[contact-form-7 id=”825″ title=”Email Form”] |
