Houses lead Lower Mainland real estate gains

Apartment, townhouse prices weak in Fraser Valley, according to real estate statistics for February

Detached houses are gaining faster in price than condos or townhouses in most of the Lower Mainland.

Lower Mainland real estate prices were up modestly in the first two months of the year, with detached houses showing the strongest gains, according to statistics from realtor associations.

In Metro Vancouver, the benchmark price of detached houses hit $1.026 million in February, up 9.7 per cent from a year earlier. And that varies wildly by geography, with the typical house on Vancouver’s west side selling for $2.4 million, compared to $480,500 in Maple Ridge.

The strongest one-year price gains for houses within Metro have been around 12 per cent in Vancouver and north Burnaby.

The Real Estate Board of Greater Vancouver reported its benchmark price for attached homes rose 4.6 per cent to $481,500 and apartments were up three per cent year-over-year to $386,500.

The benchmark price of detached houses in the Fraser Valley, which includes Surrey, White Rock and North Delta, was $581,400 in February, up 4.2 per cent from a year ago.

Benchmark prices for townhouses were down 0.6 per cent year-over-year to $297,200 and apartments were down 1.8 per cent to $189,700, according to the Fraser Valley Real Estate Board.

Abbotsford has seen the strongest gains with townhouses up more than seven per cent and apartments up more than 10 per cent.

The weakest areas in the Fraser Valley have been Langley apartments, which are down 10 per cent from a year ago, and South Surrey/White Rock townhouses, down 7.8 per cent.

FVREB president Jorda Maisey said sales in the Fraser Valley were up 21 per cent in February and homes are selling faster – at an average of 41 days on the market now – because of the increased activity.

Just Posted

Agassiz speed skater heading to Canada West championships

Mya Onos, 11, is qualified for her first provincials this year, and is now taking on Western Canada

Harrison considers future of memorial bench program

Harrison to keep maintaining bench plaques, council seems to feel new benches could be in the future

BC Ferries has no plans to implement debit for vehicle ticket payments

Debit accepted for foot passengers, on-board purchases for all vessels

See stunning sights and amazing adventures at mountain film fest in Chilliwack

Discover what’s in our own backyard with the Vancouver International Mountain Film Festival tour

The complete history of science in one hour at Chilliwack Cultural Centre

We Now Know is a complete history lesson without the boring stuff

Harrison Hot Springs students bring ‘Twelfth Night’ to life

The adaption of Shakespeare’s classic comedy include songs and phrases from Canada’s east coast

Facebook to overhaul ad targeting to prevent discrimination

The company is also paying about $5 million to cover plaintiffs’ legal fees and other costs

B.C. mosque part of open-house effort launched in wake of New Zealand shootings

The ‘Visit a Mosque’ campaign aims to combat Islamophobia

Teacher reprimanded after incident with Grade 11 student in school gym

Gregory Norman Brock was teaching at a high school in the Maple Ridge-Pitt Meadows School District

‘That’s a load of crap’: Dog poop conspiracy spreads in White Rock

Allegation picked up steam through a Facebook page run by a city councillor

Explosives unit brought in after suspicious boxes left at B.C. RCMP detachment

Nanaimo RCMP issues all clear after packages were found on lawn earlier in the day

Avalanche control tomorrow on Highway 1

Expect closures of up to two hours east of Revelstoke

2019 BUDGET: As deficit grows, feds spend on job retraining, home incentives

Stronger economy last year delivered unexpected revenue bump of an extra $27.8 billion over six years

Newfoundland man caught after posting photo of himself drinking and driving

The 19-year-old took a photo of himself holding a beer bottle and cigarette while at the wheel

Most Read