Vancouver’s red-hot housing market is moving further into the suburbs, if a lineup to buy in Langley today is any indication.
Last night, a raffle was held just to get places in line for today’s opening of the Woodland Park townhome development at 86th avenue & 204 street.
People started showing up Wednesday, but were told to come back later, as developers didn’t want a long line-up growing amidst construction traffic.
“We were overwhelmed, we couldn’t believe how many people were inquiring about this development, and how high the demand was,” says Eva Marsh, director of sales for Frontline Real Estate Services, which is selling and marketing the property.
Today, dozens of people came back to the development with their guaranteed slot in line.
“I’ve been out here three hours,” said one man, who was with his wife to pre-purchase one of the townhomes.
“It’s going to be a story to tell our child we have on the way, that’s for sure…It’s beyond ridiculous.”
The average price of a townhome in Langley has increased by 23.8 per cent in the last year, from $326,234 in April 2015 to $403,788 last month.
“Guys in my office, 35 years, never seen anything like this. It’s crazy, but you’ve got to go with it,” said Dave Robles, a Langley realtor with RE/MAX.