A look at Delta’s housing prices

House prices have levelled off in recent months in Delta but are still much higher than the previous year

Housing prices in Delta saw very little month-to-month change in July after an extended period of steady growth, a trend seen throughout the Lower Mainland’s housing market.

According to the Real Estate Board of Greater Vancouver, the benchmark price for a detached single-family house in Ladner in July was $1,263,400, down slightly from the previous month.

Also almost unchanged from the previous month, the benchmark for a house in Tsawwassen last month was $1,275,500.

The price for a house in Ladner and Tsawwassen also saw little change from June to July.

However, last month’s benchmark for a Ladner house was up almost 26 per cent from July 2020, while it was up almost 21 per cent in Tsawwassen.

The benchmark for a townhouse in Ladner last month was $754,200 and in Tsawwassen it was $837,200, up 12 per cent and six per cent respectively over the previous year.

The benchmark for a condo in Ladner was $583,700 and in Tsawwassen it was $643,200, up 13.7 per cent and 13.4 per cent respectively over the previous year.

Meanwhile, The Fraser Valley Real Estate Board notes the benchmark for a house in North Delta was $1,191,600, up almost 28 per cent from the previous year.

The benchmark for a townhouse in North Delta was $673,200, up 18 per cent over the previous year, and for a condo it was $402,300, up just over three per cent over the previous year.

The FVRB said that while market activity in the Fraser Valley, both sales and new listings, softened in July, buyers still continued to significantly outnumber sellers. That has resulted in inventory reaching the lowest for the month since 1981.

The City of Delta is currently working on a new Housing Action Plan, while Metro Vancouver is also looking at a new long-term housing strategy as part of the new Metro 2050 plan.

Are you looking to buy or sell property? If you’d like, we can have a real estate expert show you the most efficient process that saves you thousands of dollars, a lot of time, with little or no inconvenience to you. Contact us today!

 

Source:    Delta Optomist