Langley Township’s most valuable property dips in price

Langley Township’s most valuable property is worth $18.1 million – but that’s a lot less than it was valued at last year, according to BC Assessment data.

The property, in the 19600 block of Zero Avenue, is in the far southwestern corner of the Township, and has long been one of the most valuable properties in the region.

Last year, the site was assessed at more than $21 million, but a large part of its value lay in the possibility that it could be subdivided, according to Bryan Murao of BC Assessment.

Two years ago, it was assessed at $17.8 million.

The second-most valuable property on the list in the Township is an 82.5 acre estate with a 9,100 square foot home. The property is assessed at more than $12 million, with the land alone worth $5.6 million, and the buildings worth $6.3 million. The property is located on rural land north-east of Walnut Grove, just off 216th Street.

Almost all the top 10 most expensive properties on the list are rural estates, many in South Langley.

Those that aren’t in South Langley include at 78.8 acre spread near Trinity Western University off Glover Road, boasting a one-storey house built in 1936, and a 4.3 acre site off Allard Crescent that sits on the Fraser River, with its own dock opposite the western tip of Brae Island.

READ ALSO: Top properties in Langley cost $21 to $14 million

Another, valued at $8.6 million, is perched on a ridge above the Fraser River with views of Golden Ears, near 88th Avenue and Armstrong Road.

The least valuable site on the list of the top 10, in South Aldergrove, is worth $8.5 million.

While assessed values have climbed for typical single-family homes, townhouses, and condos in Langley over the last assessment period, some of the larger estates have seen fluctuating values.

Some have seen drops in their value, while others have increased only marginally.

BC Assessments based its assessed values on what the properties were worth in July, compared to 12 months previously.

But prices for homes in the region peaked around March to April, after two years of furious increases, and then began to drop.

Assessed values are unlikely to represent the sales value of homes, including some of the most expensive.