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So another Langley Township Open House to report on from yesterday (click on the graphic to see the full review). It would appear to me that when compared with the options presented at an Open House in June 2010, the planners have combined the two options presented, shifting some of the density (both previous options are available at this township document page).

 

Previously, Option 1 saw much more residential detached homes staying on the western side along 207th. Additionally, there was added commercial along 72nd, and medium density townhomes on the Southwest corner of 68th and 207th.

 

Option 2 maintained the idea of having commercial along 72nd, while removing single family detached homes almost completely from the area. High density was added all along 68th Avenue along the North and South.

 

Both plans offered a Pocket Park around what I am guessing would be 71A with an adjoining Wildlife Habitat. There would also be a "Green Link" running from this Pocket Park all the way to a detention pond on the Willowbrook Connector. They also feature some sort of unique amenity feature just south of 68th on 207th.

 

The proposed plan that I saw on Thursday lightened the commercial along 72nd, keeping it to the area immediately around 208th Street, but adding to the mixed residential/commercial idea around 207th and 68th. Single family detached homes were reduced to 4 lots in the Northwest corner, along 207th and 72nd, while the area that Option 1 showed single family detached now will receive a light density (10-12 units per acre) townhouses - a density category not on either of the previous plans. The density along 68th was increased from Option 1, but decreased from Option 2.

 

The new plan also features 2 new detention ponds, one at the very south point of 208th and another north of 68th, between 206th and 207th. The Pocket Pond, Wildlife Habitat, amenity feature have all been retained. The "Green Link" has been replaced by a "Blue Link" - take a look at the full presentation (click on the graphic) to see details of this feature. It should be noted that Options 1 and 2 both mentioned "traffic calming elements" at most interesections; these have been clarified to be roundabouts.

 

Any questions regarding real estate in Langley or throughout the Fraser Valley? Give Brad Richert a call at 604.510.4825.

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Earlier this year (first week of June I believe),I attended a workshop for the Routley Neighbourhood Park. The Township of Langley had asked residents to come by and draw up their dreams for the park and vote on what features they would like.

 

The park sits on the location where an elementary school was sited to go prior to the development of the area. Due to a very controversial land swap, the site will now play host to 100+ townhouses and a neighbourhood park. So on October 30th, the Township presented us the results of our hard work. See PDF here.

 

Currently there is just a playground (although small, it is quite nice) in the Northeast corner, surrounded by an unattractive field of half dead bushes and trees. The plan features an additional playground, picnic area, community garden, informal baseball & soccer field, a fenced dog off leash area, some sports courts and parking area.

 

Routley is a subneighbourhood in Willoughby (Langley, BC). The location of the park is between 70th and 72nd Avenue and off of 198A Street. Photo credit to Pete P.

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I hope I didn't scare anyone with my "sky is falling"-esque post last month, but I maintain that if we're looking at the big picture, we're in the for long haul here folks. However, October did show a bump in the trend towards a more balanced market. Townhouses sold very well, but it appears to be in relation to the decrease in sale benchmark prices. Sellers seem to realize that in order to get their home sold, the prices have to come down. It's worked.
 
It was good to see Abbotsford detached homes finally get a strong increase in sales with a steady decrease in listings, resulting is a better sales-to-listing ratio. In Surrey, Cloverdale & Surrey Central continue to suffer in sales volume, but both showed marked improvements from extremely poor September figures. White Rock/South Surrey on the other hand, shows no growth, with both sales figures and benchmark prices falling month over month.
 
In my home of Langley, we saw a substantial increase in sales with a drop in listings when compared to September numbers. The result is that Langley, once reliably stable over the last few years has become a bit of an unpredictable roller coaster. Townhome trends are up so much that they are back in a Sellers market, while condos have also posted some gains, albeit still solidly in a Buyers market.

Market Breakdown:

ABBOTSFORD (Detached homes)
Inventory: 7.0 Months (Buyers Market)
Last October: 10.8 Months
Benchmark Price: $424,000 (+2.1% from 2011)


CLOVERDALE (Detached homes)
Inventory: 8.4 Months (Strong Buyers Market)
Last October: 6.2 Months
Benchmark Price: $563,500 (+2.2% from 2011)

 

LANGLEY (Detached homes)
Inventory: 6.2 Months (Buyers Market)
Last October: 5.6 Months
Benchmark Price: $542,000 (- 0.5% from 2011)


SURREY CENTRAL (Detached homes)
Inventory: 7.7 Months (Strong Buyers Market)
Last October: 7.6 Months
Benchmark Price: $565,900 (+5.1% from 2011)


WHITE ROCK/SOUTH SURREY (Detached homes)
Inventory: 9.9 Months (Strong Buyers Market)
Last October: 6.2 Months
Benchmark Price: $870,100 (+2.0% from 2011)


For any additional municipalities or property types, please contact me directly. 604-510-4825 or email bradrichert@macrealty.com


For raw date, click here.

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