Chart showing changes of prices in standardized benchmark residential homes since 2005.

Real estate prices start year with gain in Metro Vancouver, Fraser Valley

Lower Mainland houses up more than three per cent over last year

Lower Mainland real estate markets climbed modestly in the first two months of the year.

The Fraser Valley Real Estate Board (FVREB), which includes Surrey, White Rock and North Delta, reported a benchmark detached house price of $558,100 in February, up about 1.5 per cent from December and up 3.2 per cent year-over-year.

Townhouses were up 0.7 per cent to $296,700 from February of 2013 but the benchmark price of Fraser Valley apartments dropped 4.6 per cent from a year ago to $193,200.

The Real Estate Board of Greater Vancouver said its benchmark price for a typical detached house climbed 3.5 per cent from a year ago to $932,900.

Attached units were $458,300 – a 0.6 per cent one-year gain. Apartments were up 3.6 per cent over one year to $373,300.

The biggest one-year gains reported were for detached houses in Vancouver and South Burnaby, which are up more than seven per cent, while detached houses in North Delta and Langley were up six per cent.

The biggest recent drop was in Abbotsford apartments – their benchmark price is down 21 per cent from a year ago.

Other areas where prices have dropped include apartments in Squamish and Whistler – both down 13 per cent – and detached houses on Bowen Island and the Sunshine Coast, both down more than four per cent.

The most expensive market to buy a detached house remained the west side of Vancouver, where the benchmark price is $2.15 million, while the cheapest was Mission at $352,800.

It’s taking less time for a home to sell – an average of 51 days in the Valley.

Both real estate boards reported sales are up significantly, reflecting a typical jump in buyer interest as spring approaches.

Just Posted

The man who gave up law school to work in a homeless shelter

Joshua Medcalf is keynote speaker for 2018 Leadership Superconference at Langley Events Centre

Second Langley man found guilty in $6 million fraud

The co-accused in the Aggressive Roadbuilders fraud admitted his guilt in court.

Man who abducted and assaulted 11-year-old Langley girl has parole rules tightened

Brian Abrosimo made ‘inappropriate and sexualized’ comments

‘Police are ready’ for legal pot, say Canadian chiefs

But Canadians won’t see major policing changes as pot becomes legal

VIDEO: Langley-based Fraser Valley Fusion 2002A crowned champions in Oregon

Fastpitch team takes Triple Crown Sports Valley South 16U Tournament in Medford

Naked man jumping into Toronto shark tank a ‘premeditated’ stunt: official

The man swam in a tank at Ripley’s Aquarium of Canada

Transport Canada to take new look at rules, research on school bus seatbelts

Canada doesn’t currently require seatbelts on school buses

Sockeye run in Shuswap expected to be close to 2014 numbers

Salute to the Sockeye on Adams River continues until Sunday, Oct. 21 at 4 p.m.

Michelle Mungall’s baby first in B.C. legislature chamber

B.C. energy minister praises support of staff, fellow MLAs

Aldergrove policing focuses on safety, prevention

RCMP Cpl. Kurt Neuman’s October update from the Community Liaison office

Canucks: Pettersson in concussion protocol, Beagle out with broken forearm

Head coach Travis Green called the hit ‘a dirty play’

Star Calendar

Upcoming events and activities in Aldergrove and area

Aldergrove Starfish program gets boost

Jazz Pilots for Kids donates $4,871 for after-school food program

Most Read