The Year
It was the Fraser Valley’s third-slowest year for home sales in ten years, but 2011 sales were actually up 4.3 per cent over 2010. A total of 15,529 residential properties sold.
Detached homes were in highest demand across the region — sales grew by 11 per cent over 2010, with a few areas making up most of the gains. Detached home sales increased by 10.2 per cent in Surrey North, 14.6 per cent in North Delta, 22.7 per cent in Langley, and a whopping 45.3 per cent in White Rock. Prices in those areas increased too.
Median prices of detached homes for the region increased 4.4 per cent in 2011, from $519,000 to $542,000.
Townhouse and apartment sales dropped 2.5 per cent compared to 2010. The only increased sales were in White Rock (townhouses up 7.5 per cent, apartments up 1.1 per cent) , North Delta (apartment sales up 9.7%) Langley (townhouses up 3.8 per cent).
December
In December, 453 families got a house for Christmas — detached homes were the only properties that increased in sales and value in the Fraser Valley.
| Dec/Nov 2011 | Dec 2011/ Dec 2010 | |
|---|---|---|
| Overall Sales | -20.5% | -0.6% |
| - Detached | -16% | +4.4% |
| - Attached | -30.2% | -4.8% |
| - Apartment | -29.9% | -18.1% |
| New Listings | -43% | -7.0% |
| Active Listings | -24.1% | -12.3% |
Benchmark prices were stable. For detached houses the benchmark price was up 3.3 per cent over December 2010, but dipped by 1.7 per cent from November. Townhouse and apartment values were very slightly off those of the previous December and those of November 2011.
| Nov 2011 | Dec 2011 | Dec 2010 | |
|---|---|---|---|
| Detached | $532,086 | $522,998 | $506,145 |
| Attached | $327,764 | $315,330 | $322,054 |
| Apartment | $238,461 | $237,285 | $240,101 |
