Thursday February 24th, 2011 - Fraser Valley Home Sales Exhibit Slight Growth in January

Denizens of Langley stepped up their home buying and selling last month in two major categories, per newly released data. According to the Fraser Valley Real Estate Board, 33 town homes and 24 condominium units sold in January, as opposed to 27 town homes and 24 condos sold last December. In the single-family home segment, 58 homes sold in January, versus 70 in December.

Prices for houses and condos increased marginally, to $511,995 for the average single-family dwelling, and $242, 088 for a condo. Townhouse prices dipped slightly to an average of $311,062. In comparison to other homes in the Fraser Valley, Langley single-family residences saw somewhat higher prices. However, the area’s town homes and condos are less expensive than those in other towns.

Deanna Horn, president of the FVREB, said that it is typical for the number of listings and sales to grow in January, following the end of the holiday season. Horn said that the area is fairly consistent in terms of prices, but there are some variations within respective communities and types of home. She said that sales usually reach their height during the second and third quarters.