New property listed in Brookswood Langley, Langley

NEW LISTING!  2555 200 ST in Langley.
FANTASTIC INVESTMENT OPPORTUNITY!OCP shows 5000-7000sqft single family lots 2.5 ACRES located within the Brookswood/Fernridge development plan. Let your imagine go to work here... possibility of an exclusive park like neighbourhood. This could be an amazing development with a feature of Little Campbell River running through the back of the property. A new development that encompasses that would fit into the area and keep its country charm. The home and barn on the property have been cared for and have endless possibilities while you wait for the final approvals. Rented, tenants may like to stay.

SURREY, BC – For the sixth consecutive month, Fraser Valley’s real estate market experienced property sales at levels never seen before in the 100‐year history of the Fraser Valley Real Estate Board (FVREB).  

In February, the FVREB processed a total of 2,815 sales on its Multiple Listing Service® (MLS®), an increase of 108 per cent compared to February 2020 and 64 per cent more than were processed in January 2021. To provide a historical perspective, sales in February were 88 per cent above the 10‐year average for that month; and 18 per cent higher than the previous record of 2,387 sales in February 2016.    

Chris Shields, President of the Board said of this month’s record numbers, “This is new territory for us. We have never seen such consistent and persistent demand for housing in the Fraser Valley.  

“What’s fueling the demand is the combination of record‐low interest rates and the response to the pandemic. It’s not something that could have been predicted and it has created a very complex market for buyers that requires the knowledge and expertise of a professional. For family‐sized homes, prices climbed 3 to 5 per cent in February alone and sold on average in three weeks. We understand the stress and frustration with the market currently and we’re here to help guide and protect home buyers.”  

The Board received 3,265 new listings in February, an increase of 28 per cent compared to February of last year, placing it second highest for February for new listings in the last decade. The total active inventory for February was 4,120, down 28 per cent from last year’s 5,741 active listings, and the lowest ever for the month.

Baldev Gill, Chief Executive Officer of the Board, added, “We know more people are choosing to move to the Fraser Valley right now because they’re seeking more usable space, a better quality of life, and they recognize that their housing dollar goes further. The challenge is selection. We anticipate as the vaccination roll‐out accelerates, confidence to list will increase and we’ll see inventory return to more normal levels. In the meantime, REALTORS® will continue to ensure consumer safety is at the forefront of all home viewings and transactions.”

Across Fraser Valley, in February, the average number of days to sell a single‐family detached home and a townhome was 21 days. Apartments took on average 35 days to sell.  

MLS® HPI Benchmark Price Activity

 Single Family Detached: At $1,163,400, the Benchmark price for an FVREB single‐family detached home increased 5.1 per cent compared to January 2021 and increased 19.9 per cent compared to February 2020.

 Townhomes: At $600,300, the Benchmark price for an FVREB townhome increased 3.4 per cent compared to January 2021 and increased 10.1 per cent compared to February 2020.

 Apartments: At $450,900, the Benchmark price for an FVREB apartment/condo increased 2.5 per cent compared to January 2021 and increased 5.3 per cent compared to February 2020. —30 — The Fraser Valley Real Estate Board is an association of 3,840 real estate professionals who live and work in the BC

Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.