The Fraser Valley Real Estate Board recently published the MLS® statistics for the Langley real estate market, among others, for July 2021.
In this post, we’re going to take a close look at key numbers for the Langley condominium market for July 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.
A summer slowdown is typical. We anticipated that once people could travel and enjoy family time safely, they would do so, and we couldn't be happier for everyone. Demand for homes in our region, however, remains above average - for fourteen months we have been in a seller's market for Fraser Valley detached homes, townhomes, and condos - and yet for the last four months, new listings in our region have been decreasing.
Larry Anderson – President, Fraser Valley Real Estate Board
And we're going to look at how the Langley MLS® numbers for July 2021 compare with the numbers for July 2020 and for June 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 July 2021.
- 127 Sales
- 151 New Listings
- 286 Active listings
- $472,400 Benchmark Price
- $471,000 Median Price
- $486,397 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 44.41%, indicating that it was a Seller's Market for condominiums in Langley in July 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 July 2021:
- There were 127 condominium sales in Langley in July 2021 – an increase of 6.72% over July 2020 and a decrease of -12.41% over June 2021
- There were 151 new listings of condominiums in Langley in July 2021 – a decrease of -19.68% over July 2020 and a decrease of -22.56% over June 2021
- The average price of a condominium in Langley in July 2021 was $486,397 – an increase of 22.59% over July 2020 and a decrease of -1.77% over June 2021
If you're really keen to understand what happened in the market for condominium in Langley in July 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 July 2021 and see how it compares with the previous year and previous month.
Langley Condominium Stats
| Metric | Jul 2021 | Jul 2020 | % Change | Jun 2021 | % Change |
|---|---|---|---|---|---|
| Sales | 127 | 119 | 6.72% | 145 | -12.41% |
| New Listings | 151 | 188 | -19.68% | 195 | -22.56% |
| Active Listings | 286 | 428 | -33.18% | 321 | -10.90% |
| Benchmark Price | $472,400 | $399,000 | 18.40% | $470,600 | 0.38% |
| Median Price | $471,000 | $395,000 | 19.24% | $470,000 | 0.21% |
| Average Price | $486,397 | $396,761 | 22.59% | $495,152 | -1.77% |
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.