REAL ESTATE SALES STATISTICS IN LANGLEY FOR DECEMBER 2022

Real estate in Langley for December

December saw a record-breaking decline in overall real estate sales for the Fraser Valley. In fact, real estate sales in the FVREB saw a decline of 60.4% compared to the same month last year.  This is the lowest real estate sales have been in December over the past 10 years.

Record Breaking Changes to the Local Real Estate Market in Langley

Real estate sales in Langley for December echoed the rest of the sales area and continued their descent. According to the local real estate board in the Fraser Valley, there were 137  properties across all categories sold in the month of December. The average benchmark price fell by 10.9% from last year’s average of  $1,509,000.

Active Listings

There were 470 active listings in Langley, in December. 33 of which were new listings for single-family homes.  The average sales cycle of 27-34 days is also increasing. All of which point more toward a buyer’s market. This time last year properties were changing hands 2-3x faster. Single-family homes are taking an average of 42 days to sell, townhomes 39, and apartments 33 days.

Average Price

The average single-family home price in Langley sat around $ 1,461,934. Townhomes were at an average price of $754,078 and finally, apartments and condos were at an average price of $532,654. The Benchmark price for a single-family home in Langley in November was $1,484,300. Townhomes saw a benchmark of $815,100 and finally, apartments and condos in Langley saw a benchmark price of $567,700.