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Langley Detached Home Market Update April 2024

Home » Market Updates » Langley Detached Home Market Update April 2024

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 detached home market for April 2024 – including sales, new listings, active listings, as well as benchmark, median and average prices for detached homes for sale in Langley.

We're also going to see what kind of shape the detached home 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 Detached Home Listings and Sales

Here's a high-level snapshot of listing and sales activity for Langley detached homes in April 2024.

  • 102 Sales
  • 254 New Listings
  • 401 Active listings
  • $1,648,400 Benchmark Price
  • $1,549,500 Median Price
  • $1,664,308 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 25.44%, indicating that it was a Seller's Market for detached homes 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 detached homes, you need to speak with a real estate agent.

Langley Detached Home Market Changes

Following are some of the highlights for detached homes for sale in Langley in April 2024:

  • There were 102 detached home sales in Langley in April 2024 – an increase of 9.68% over April 2023 and an increase of 18.60% over March 2024
  • There were 254 new listings of detached homes in Langley in April 2024 – an increase of 86.76% over April 2023 and an increase of 23.90% over March 2024
  • The average price of a detached home in Langley in April 2024 was $1,664,308 – an increase of 3.37% over April 2023 and an increase of 4.22% over March 2024

If you're really keen to understand what happened in the market for detached home in Langley in April 2024, make sure you check out the next section.

Detailed Overview of the Market for Detached Homes in Langley

Check out the table below for more detailed information on what happened in the Langley detached home market in April 2024 and see how it compares with the previous year and previous month.

Langley Detached Home Stats

Metric Apr 2024 Apr 2023 % Change Mar 2024 % Change
Sales 102 93 9.68% 86 18.60%
New Listings 254 136 86.76% 205 23.90%
Active Listings 401 201 99.50% 314 27.71%
Benchmark Price $1,648,400 $1,543,200 6.82% $1,623,700 1.52%
Median Price $1,549,500 $1,515,000 2.28% $1,500,000 3.30%
Average Price $1,664,308 $1,610,028 3.37% $1,596,992 4.22%

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 detached homes 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.

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