The Fraser Valley Real Estate Board recently published the MLS® statistics for the Langley real estate market, among others, for October 2021.
In this post, we’re going to take a close look at key numbers for the Langley condominium market for October 2021 – 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.
What we're seeing is a combination of above-average sales with below-average new listings which is placing strong upward pressure on home prices, for all residential categories, month-over-month.
Larry Anderson, President of the Fraser Valley Real Estate Board – President, Fraser Valley Real Estate Board
And we're going to look at how the Langley MLS® numbers for October 2021 compare with the numbers for October 2020 and for September 2021.
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 October 2021.
- 128 Sales
- 121 New Listings
- 160 Active listings
- $486,500 Benchmark Price
- $540,000 Median Price
- $556,632 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 80.00%, indicating that it was a Seller's Market for condominiums in Langley in October 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 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 October 2021:
- There were 128 condominium sales in Langley in October 2021 – an increase of 5.79% over October 2020 and an increase of 5.79% over September 2021
- There were 121 new listings of condominiums in Langley in October 2021 – a decrease of -41.83% over October 2020 and a decrease of -19.33% over September 2021
- The average price of a condominium in Langley in October 2021 was $556,632 – an increase of 30.15% over October 2020 and an increase of 5.98% over September 2021
If you're really keen to understand what happened in the market for condominium in Langley in October 2021, 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 October 2021 and see how it compares with the previous year and previous month.
Langley Condominium Stats
| Metric | Oct 2021 | Oct 2020 | % Change | Sep 2021 | % Change |
|---|---|---|---|---|---|
| Sales | 128 | 121 | 5.79% | 121 | 5.79% |
| New Listings | 121 | 208 | -41.83% | 150 | -19.33% |
| Active Listings | 160 | 391 | -59.08% | 197 | -18.78% |
| Benchmark Price | $486,500 | $397,500 | 22.39% | $476,000 | 2.21% |
| Median Price | $540,000 | $399,900 | 35.03% | $510,000 | 5.88% |
| Average Price | $556,632 | $427,699 | 30.15% | $525,214 | 5.98% |
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.