Anshu Arora LLM, MSc, PMP

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Real estate prices still rising in Langley and Maple Ridge

The benchmark price for a detached home in Langley was $999,800 in September. Local detached homes rose 13.3 per cent in price from a year ago, and are 84.1 per cent more expensive than their benchmark price back in September 2007.


Townhouses in Langley are inching towards the half million dollar mark, with a benchmark price of $465, 200 last month. Townhouses in Langley are 9.3 per cent more expensive than they were a year ago, and up (on average) 58.5 per cent in price from September 2007.


Langley condos continue to climb up the price ladder, with a benchmark price of $368,500 in September, representing a 1.8 per cent increase from August. Apartments have risen 35 per cent in benchmark price in a year. The Fraser Valley Real Estate Board (FVREB) 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.


This was the fifth highest sales total for a September in the board’s history.


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