The Fraser Valley Real Estate Board recently published the MLS® statistics for the Langley real estate market, among others, for April 2024.
In this post, we’re going to take a close look at key numbers for the Langley condominium market for April 2024 – 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 are seeing a relatively calm and balanced market right now. Which means buyers have time to shop around and purchase a home without the pressure of a few years ago, and while prices are holding fairly steady across all property types.
Jeff Chadha – President, Fraser Valley Real Estate Board
And we're going to look at how the Langley MLS® numbers for April 2024 compare with the numbers for April 2023 and for March 2024.
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 2024.
- 101 Sales
- 253 New Listings
- 345 Active listings
- $625,100 Benchmark Price
- $575,000 Median Price
- $597,366 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 29.28%, indicating that it was a Seller's Market for condominiums in Langley in April 2024 (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 2024:
- There were 101 condominium sales in Langley in April 2024 – a decrease of -13.68% over April 2023 and an increase of 1.00% over March 2024
- There were 253 new listings of condominiums in Langley in April 2024 – an increase of 66.45% over April 2023 and an increase of 29.74% over March 2024
- The average price of a condominium in Langley in April 2024 was $597,366 – an increase of 1.88% over April 2023 and an increase of 1.66% over March 2024
If you're really keen to understand what happened in the market for condominium in Langley in April 2024, 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 2024 and see how it compares with the previous year and previous month.
Langley Condominium Stats
| Metric | Apr 2024 | Apr 2023 | % Change | Mar 2024 | % Change |
|---|---|---|---|---|---|
| Sales | 101 | 117 | -13.68% | 100 | 1.00% |
| New Listings | 253 | 152 | 66.45% | 195 | 29.74% |
| Active Listings | 345 | 224 | 54.02% | 286 | 20.63% |
| Benchmark Price | $625,100 | $578,900 | 7.98% | $623,400 | 0.27% |
| Median Price | $575,000 | $565,000 | 1.77% | $575,000 | 0.00% |
| Average Price | $597,366 | $586,329 | 1.88% | $587,588 | 1.66% |
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.