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

Maple Ridge tent city starts gofundme for its second winter

Gofundme page started for heaters, ducting.

AGM coming for Pitt Meadows Community Foundation

Foundation has been active, says president Terry Becker

Pop-Up Shoe Bank coming to Maple Ridge

The one day event will provide free shoes to those in need

Ridge RCMP officer chases down theft suspect

Allegedly caught in the act of theft from a vehicle

Ridge Meadows RCMP issue fines, seize pot, under new Cannabis Act

Unlawful supply of cannabis offence for over 30 grams

UPDATE: Pedestrian hit by train in Maple Ridge

Emergency responders on tracks along River Road

Protesters confront Environment Minister in B.C.

Protesters wanting more for killer whales confront Catherine McKenna

Humans reshaping evolutionary history of species around the globe: paper

University of British Columbia researcher had the paper published in the Proceedings of the Royal Society

Toronto ‘carding’ activist Desmond Cole stopped by police in Vancouver

Cole says his experience reveals what daily life is like for black and Indigenous residents

Tubing, skating, light display part of new winter festival in Vancouver

Set to open Nov. 23, the six-week festival will take over Vancouver’s Concord Pacific Centre

Commercial trucks banned from left lane of Coquihalla

B.C.’s Ministry of Transportation has introduced a new program that hopes to prevent accidents and closures on the Coquihalla Highway.

B.C. on track to record same number of overdose deaths as last year

128 people died of overdoses in September, bringing the total to more than 1,100 so far in 2018

B.C. firefighters rescue horse stuck in mud

‘It happens more often than you’d think,’ says deputy chief

Regulatory confusion over ‘toxic’ stink near Abbotsford school

Officials sniffing out which regulators responsible for enforcing compliance at neighbouring property

Most Read