Current: North Langley is in a Seller Market with normal listing inventories, a 36 %SOLD rate and a 99% Sell/List Ratio.
(This means that there is an average of a $9,000 Discount on a sale from the original list price)
Most Active Range: Homes between $1 mill. - $1.15 mill. have 60.0 %SOLD rate resulting in a Seller Market
Least Active Range: Homes above $2.0 mill. have 13.4 %SOLD rate.
History: The North Langley Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $59,089.
The North Langley Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $53,160.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: North Langley has an average Listing supply; 128 homes are for sale and with the strong 36 %SOLD monthly rate gives us a ~3 months of inventory. 5% of the active listings have reduced their price by $27,970 on average or $21,000 median in the last month.
October's Real Estate Statistics shows that in this highly emotional market that all 100% of the Single-Family Homes in Metro Vancouver are in a Seller's Market. This is the 1st time all markets are rising since May 2017. The Average Monthly Prices increased $19,518 which is the highest increase we have seen this year or for any October on record. Same in Fraser Valley, 94% of market increased with $23,580 monthly price increase. Thus, we are forecasting that Lower Mainland Markets (both fraser Valley and Metro Vancouver Markets) will continue to be Seller’s Market for the coming month.
Currently, Condos are also in a much cooler Seller's Market with 60% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. The average monthly price increase was $1,238. At the same time, 27 out of 28 Townhouse Markets increased an average of $2,980. We analyze and provide 97 individual City's Home Price Indexes to supply you with the MOST ACCURATE Market Trends every Saturday. Please contact us for your own Market Value Update with an in-depth Analysis and Forecast in your Local Market Area and more specifically - Your Neighborhood.