The Fraser Valley Real Estate Board recently published the MLS® statistics for the Langley real estate market, among others, for December 2020.
In this post, we’re going to take a close look at key numbers for the Langley detached home market for December 2020 – 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.
The pandemic upended everything in 2020 and how the real estate market responded to it was nothing short of remarkable. No one could have anticipated a six-month stretch like we've just experienced.
Chris Shields – President, Fraser Valley Real Estate Board
And we're going to look at how the Langley MLS® numbers for December 2020 compare with the numbers for December 2019 and for November 2020.
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 December 2020.
- 82 Sales
- 60 New Listings
- 114 Active listings
- $1,136,800 Benchmark Price
- $1,195,000 Median Price
- $1,285,880 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 71.93%, indicating that it was a Seller's Market for detached homes in Langley in December 2020 (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 December 2020:
- There were 82 detached home sales in Langley in December 2020 – an increase of 26.15% over December 2019 and a decrease of -42.66% over November 2020
- There were 60 new listings of detached homes in Langley in December 2020 – an increase of 71.43% over December 2019 and a decrease of -47.83% over November 2020
- The average price of a detached home in Langley in December 2020 was $1,285,880 – an increase of 27.91% over December 2019 and an increase of 3.51% over November 2020
If you're really keen to understand what happened in the market for detached home in Langley in December 2020, 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 December 2020 and see how it compares with the previous year and previous month.
Langley Detached Home Stats
| Metric | Dec 2020 | Dec 2019 | % Change | Nov 2020 | % Change |
|---|---|---|---|---|---|
| Sales | 82 | 65 | 26.15% | 143 | -42.66% |
| New Listings | 60 | 35 | 71.43% | 115 | -47.83% |
| Active Listings | 114 | 197 | -42.13% | 167 | -31.74% |
| Benchmark Price | $1,136,800 | $996,700 | 14.06% | $1,115,200 | 1.94% |
| Median Price | $1,195,000 | $975,000 | 22.56% | $1,107,000 | 7.95% |
| Average Price | $1,285,880 | $1,005,304 | 27.91% | $1,242,314 | 3.51% |
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.