The Fraser Valley Real Estate Board recently published the MLS® statistics for the Langley real estate market, among others, for April 2022.
In this post, we’re going to take a close look at key numbers for the Langley condominium market for April 2022 – including sales, new listings, active listings, as well as benchmark, median and average prices for condominiums for sale in Langley.
We're also going to see what kind of shape the condominium market in Langley was in for the month – whether it was a buyer's market, a balanced market, or a seller's market.
We would typically see a flurry of activity around this time of the year. However thats not been the case so far. While it's still too early to say whether this trend will endure, the slowing of sales combined with an increase in active listings is helping to restore a semblance of balance to the market, which is encouraging for homebuyers.
Sandra Benz – President, Fraser Valley Real Estate Board
And we're going to look at how the Langley MLS® numbers for April 2022 compare with the numbers for April 2021 and for March 2022.
Highlights of FVREB MLS® Data on Langley Condominium Listings and Sales
Here's a high-level snapshot of listing and sales activity for Langley condominiums in April 2022.
- 120 Sales
- 191 New Listings
- 209 Active listings
- $599,600 Benchmark Price
- $581,250 Median Price
- $606,790 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 57.42%, indicating that it was a Seller's Market for condominiums in Langley in April 2022 (click on the link learn more about local housing market ratios on the BC Real Estate Association blog).
Please note: If you want the most accurate and up-to-date data on Langley MLS® listing and sales activity for condominiums, you need to speak with a real estate agent.
Langley Condominium Market Changes
Following are some of the highlights for condominiums for sale in Langley in April 2022:
- There were 120 condominium sales in Langley in April 2022 – a decrease of -20.53% over April 2021 and a decrease of -36.84% over March 2022
- There were 191 new listings of condominiums in Langley in April 2022 – a decrease of -17.67% over April 2021 and a decrease of -23.29% over March 2022
- The average price of a condominium in Langley in April 2022 was $606,790 – an increase of 23.19% over April 2021 and a decrease of -4.03% over March 2022
If you're really keen to understand what happened in the market for condominium in Langley in April 2022, make sure you check out the next section.
Detailed Overview of the Market for Condominiums in Langley
Check out the table below for more detailed information on what happened in the Langley condominium market in April 2022 and see how it compares with the previous year and previous month.
Langley Condominium Stats
| Metric | Apr 2022 | Apr 2021 | % Change | Mar 2022 | % Change |
|---|---|---|---|---|---|
| Sales | 120 | 151 | -20.53% | 190 | -36.84% |
| New Listings | 191 | 232 | -17.67% | 249 | -23.29% |
| Active Listings | 209 | 331 | -36.86% | 186 | 12.37% |
| Benchmark Price | $599,600 | $447,200 | 34.08% | $599,800 | -0.03% |
| Median Price | $581,250 | $479,000 | 21.35% | $615,000 | -5.49% |
| Average Price | $606,790 | $492,559 | 23.19% | $632,241 | -4.03% |
Disclaimer
All of the data for the monthly real estate market updates are taken directly from the MLS® statistics packages that the Fraser Valley Real Estate Board publishes every month.
Although rare, errors and omissions may happen from time to time. If you want to be absolutely certain the you have the most accurate data, we encourage you to click on the link to the latest MLS® statistics for the Langley real estate market.
Or, better still, speak directly with a real estate agent who specializes in Langley condominiums who will be able to provide you with the most accurate, up to the minute information on – and insights into – the Langley real estate market.