The Fraser Valley Real Estate Board recently published the MLS® statistics for the Langley real estate market, among others, for June 2021.
In this post, we’re going to take a close look at key numbers for the Langley detached home market for June 2021 – 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.
In June, we shifted from an extreme seller's market to a strong seller's market. Although demand for Fraser Valley homes remains very high - over 40 per cent of active listings sold in June - we're seeing the market settle down giving buyers and sellers more room to maneuver.
Larry Anderson – President, Fraser Valley Real Estate Board
And we're going to look at how the Langley MLS® numbers for June 2021 compare with the numbers for June 2020 and for May 2021.
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 June 2021.
- 154 Sales
- 176 New Listings
- 235 Active listings
- $1,383,000 Benchmark Price
- $1,298,000 Median Price
- $1,373,117 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 65.53%, indicating that it was a Seller's Market for detached homes in Langley in June 2021 (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 June 2021:
- There were 154 detached home sales in Langley in June 2021 – an increase of 8.45% over June 2020 and a decrease of -19.37% over May 2021
- There were 176 new listings of detached homes in Langley in June 2021 – an increase of 1.15% over June 2020 and a decrease of -27.87% over May 2021
- The average price of a detached home in Langley in June 2021 was $1,373,117 – an increase of 22.43% over June 2020 and a decrease of -6.06% over May 2021
If you're really keen to understand what happened in the market for detached home in Langley in June 2021, 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 June 2021 and see how it compares with the previous year and previous month.
Langley Detached Home Stats
| Metric | Jun 2021 | Jun 2020 | % Change | May 2021 | % Change |
|---|---|---|---|---|---|
| Sales | 154 | 142 | 8.45% | 191 | -19.37% |
| New Listings | 176 | 174 | 1.15% | 244 | -27.87% |
| Active Listings | 235 | 287 | -18.12% | 274 | -14.23% |
| Benchmark Price | $1,383,000 | $1,044,200 | 32.45% | $1,379,000 | 0.29% |
| Median Price | $1,298,000 | $998,450 | 30.00% | $1,345,000 | -3.49% |
| Average Price | $1,373,117 | $1,121,560 | 22.43% | $1,461,759 | -6.06% |
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.