Sales figures show Brookswood's summer hottest since 2007 for activity and prices have reached 2018 levels.
Brookswood Single Family Homes Back at 2018 Values
Real estate watchers of the Brookswood-Fernridge neighbourhoods know that their community didn't take the hit in 2019 that the rest of Langley and the region did. Brookswood homes actually increased in value from April 2019 to November 2019 - the same months that the rest of the area saw collapsing prices. November actually experienced Brookswood's annual peak with a benchmark value of $964,600. 2020 has blasted that out of the water. Whether or not it was a result of a statistical correction by the board or a real-life one, prices jumped +4.7% in one month from February to March, surpassing the $1m mark for the first time since September 2018. May witnessed a Spring peak of $1.017m before sliding a bit in June to $1.012m. However, summer was good to the homeowners of Brookswood, with month over month increases, now with a benchmark values of $1,024,200.
Like many other communities, Brookswood's sales volumes are breaking records. While the Spring months that had a pause in the market saw 18 combined sales, summer witnessed 65 sales. For comparison, summer 2019 had 36 sales and 2018 saw 29 sales. Even the hot summers of 2015 and 2016 of 62 sales apiece was broken in 2020. You have to go back to 2007's record of 66 sales to see a busier summer - barely.
Statistically, inventory has fallen slightly in Brookswood throughout summer, however, there has been more option than there was back in Spring. Still, the sales to active listing ratio in Brookswood is higher than the Langley and Fraser Valley average, at almost 48%, meaning almost 1 in every 2 homes on the market are selling that month. It may be a bit surprising, therefore, that the average days on market is still up at 22, although the median days on market is 14, which suggests there may have been a few sales in August of properties that were on the market for a lengthy period.
Brookswood Benchmark Sale Prices, All Housing Types, 5 Years
Brookswood Sales to Listing Ratio, All Housing Types, 1 Year
Brookswood Average Days on Market, All Housing Types, 1 Year