Current: North Langley is in a Stable Market with normal listing inventories, a 12 %SOLD rate and a 98% Sell/List Ratio.
(This means that there is an average of a $316,900 Discount on a sale from the original list price)
Most Active Range: Homes between $800,000 - $900,000 have 24.1 %SOLD rate resulting in a Seller Market
Least Active Range: Homes above $1.6 mill. have 1.5 %SOLD rate.
History: The North Langley Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $43,594.
The North Langley Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $36,515.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: North Langley has an average Listing supply; 198 homes are for sale and with the strong 12 %SOLD monthly rate gives us a ~8 months of inventory. 13% of the active listings have reduced their price by $44,779 on average or $25,200 median in the last month.
May's Real Estate Statistics shows 64% of Vancouver's Detached Markets values decreased this month. Generally, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $14,880, which is a significant decline from last month's $8,007 price drop. On the other hand, the Fraser Valley shows a steady Market with the monthly price increase of $1,580. The following month's forecasts for Detached Homes are: a continued Buyer's Market across most of Vancouver and a Stable Market over most of the Fraser Valley.
Currently, the Condo Market presents a Warmer Market with 43% of the Greater Vancouver (Lower Mainland) Condo Prices Increasing. On the same note, 46% of the Townhouse Markets are Increasing. (13 out of 28 Markets). We are forecasting a Buyers’ Market in most Condo and Townhouse Markets for the coming month. We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. 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.