What do the hottest selling neighbourhoods in the Fraser Valley have in common?
Affordability and access to amenities are a big part of the real estate equation, according to Royal LePage realtor Adil Dinani.
Dinani looked at new listings of single detached homes, and how long it took before they were sold, as the basis for compiling a list of the hottest neighbourhoods in eight Lower Mainland and Fraser Valley cities for the month of May.
Over the last year, Dinani said he has seen a shift in the mindset of Lower Mainland buyers and their willingness to move to the Fraser Valley.
With prices continuing to rise, buyers are now considering affordable options outside their preferred neighbourhood, turning to places like Langley and Surrey, he said. They want a home within walking distance of banks, libraries and gyms.
“As long as the neighbourhoods are good, schools are good, and there are amenities nearby,” said Dinani. “Before, there was pushback.
“I think it’s always been important, but now when people are compromising on location, in terms of where they’d ideally like to be and what they can realistically afford, those types of services are more of a draw,” he said.
Cities now boast many more residential communities, including townhouses and condos, built around amenities such as grocery stores, medical clinics and rapid transit corridors, he said.
“No one wants to live in a stand-alone building anymore.”
With detached homes out of reach for most buyers, developers are already paying a premium for land where they can build townhouses, Dinani said.
A recently sold-out townhouse development in Pitt Meadows hit many of the right marks for young buyers and those wanting to downsize, he said, with large deck spaces, nine-foot ceilings on the main floor, good-sized bedrooms and a functional design.
“They sold 20 units without even opening the doors.”
The following is a list of hottest neighbourhoods, listed by city:
MISSION
1. Stave Falls
2. Mission
3. Hatzic
4. Durieu
5. Mission West
6. South West Mission
7. Central North West Mission
8. West Central
MAPLE RIDGE
1. Albion
2. Cottonwood
3. East Central
4. North West
5. Silver Valley
ABBOTSFORD
1. Abbotsford East
2. Abbotsford West
3. Central Abbotsford
4. Poplar
5. Aberdeen
6. Sumas Mountain
LANGLEY
1. Langley City
2. Murrayville
3. Walnut Grove
4. Willoughby Heights
5. Fort Langley
6. Aldergrove
7. Brookswood
8. Salmon River
SURREY
1. Fleetwood Tynehead
2. Fraser Heights
3. Sullivan Station
4. Port Kells
5. Bolivar Heights
– courtesy Royal LePage (May 2016)