Fraser Valley market remains steady;

while selection continues to improve…

 

There were 1435 property sales processed on the Fraser Valley Real Estate Boards Multiple Listing Service (MLS) in April, reflecting a 5% decrease compared to the 1,516 sales in April of last year, and a slight increase over the 1,412 sales in March.

In April the board added 7% more new listings compared to 1 year ago, 3,134 in contrast to 2,918 in April 2011, pushing the number of properties for sale in the Fraser Valley to 10,312, the highest level since July 2010.

 

Scott Olson, President of the Board says “To put it in perspective, in the last decade , April 2012 ranked second lowest for sales during that month, while new listings came in at the third highest, meaning it is a good time to be shopping for a home in the Fraser Valley because selection has only been this extensive twice.”

 

Langley City Market Trends

April 2012

 

Townhouses:

Prices continue to struggle and trend downward.

12 reported sales. Active listings 44. Average days on market 46.

The Benchmark price of a Langley City Townhouse in April was $243,00, down .29% from the previous month and 2.64% lower than 6 months ago. Shockingly, statistics show a 4.88% drop in price from one year ago.

 

Apartments:

Prices remain pretty steady despite the apparent overabundance of available units. 

15 reported sales. Active listings 209. Average days on market 72.

The Benchmark price of a Langley City Apartment in April was $209,300, up .44% from the previous month but still .79% lower than 6 months ago. Statistics show a 2.05% drop in price from 1 year ago.

 

Single Storey Detached:

Prices continue to drop.

10 reported sales. Active listings 21. Average days on market 48. 

The Benchmark price of a Langley City single storey detached home in April was $444,700, down 4.31% from the previous month and 1.10 % lower than 6 months ago. Statistics show an increase in price of 4.34% over 1 year ago.

 

2 Storey Detached:

Prices continue to struggle and trend downward:

8 reported sales. Active listings 29. Average days on market 35.

The Benchmark price of a Langley City 2 storey detached home in April was $482,000, down .65% from the previous month and 5.14% lower than 6 months ago. Statistics show prices are 2.07% higher than 1 year ago.