Langley's Real Estate Snapshot – November 2018
Andy Schildhorn • December 12, 2018
Langley Going by the Numbers
For the Langley market, the benchmark sale price was $1,008,600 for detached homes. At the end of the month, there were 397 active listings and 63 sales.
The condo market had 70 sales and 271 active listings. The benchmark sale price was $415,500. Townhomes featured 71 sales, 214 active listings and a $496,800 benchmark sale price.
It’s a seller’s market for condos and townhomes.
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SURREY, BC – The Fraser Valley market showed early signs of a spring thaw in February, with sales increasing over January, but continuing to trail typical levels for this time of year. The Fraser Valley Real Estate Board recorded 843 sales on its Multiple Listing Service® (MLS®) in February, a 36 per cent increase from January, but 38 per cent below the ten-year seasonal average. New listings declined nine per cent in February to 2,796, suggesting some sellers are choosing to wait amid competitive inventory levels, and may be positioning their homes for the peak of the spring market.
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The economics of building new homes in Canada are now "simply broken," sparking a macroeconomic drag that CIBC economists warn is just beginning to take hold. 👉 Details Here
