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Langley Home Prices Down

Blog by Robert McLean | October 4th, 2010

I just finished reviewing the September 2010 Sales Stats released by The Fraser Valley Real Estate Board.

According to the Board, Langley single family home prices are down 1.9% from September 2009 and 8.3% from August 2010.  Although we are currently in a "Buyers Market", inventory levels are down 13% from May - this should lead to less downward pressure on prices.

If you are a considering purchasing a home in Langley, now could be a great time to buy - prices are down and interest rates are still at record lows (3.49% for a 5 year fixed).

Thinking about selling?  Make sure you price your home ahead of the market.  i.e. don't price your home based on last month's home sale price...price it at next month's.

Here's a link to the full stats package: http://www.realtorlink.ca/portal/server.pt/document/3239351/package_201009_pdf

If you have any questions about Langley property values or home pricing trends, please feel free to call or email me.

Take care.

Robert (Rob) McLean
Cell 604-347-8831