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Current: North Langley is in a Stable Market with normal listing inventories, a 13 %SOLD rate and a 95% Sell/List Ratio.
(This means that there is an average of a $59,450 Discount on a sale from the original list price)
Most Active Range: Homes between $900,000 - $1,000,000 have 20.5 %SOLD rate resulting in a Stable Market
Least Active Range: Homes above $1.6 mill. have 5.5 %SOLD rate.
History: The North Langley Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $70,888.
The North Langley Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $20,870.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: North Langley has an average Listing supply; 248 homes are for sale and with the strong 13 %SOLD monthly rate gives us a ~8 months of inventory. 16% of the active listings have reduced their price by $60,061 on average or $39,050 median in the last month
July's Real Estate Statistics shows 74% of Vancouver's Detached Home decreased in values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $22,076. This demonstrates a trend of deeper declines as evidenced from the $18,158 drop in June, $14,880 drop in May and the $8,007 drop in April. On the other hand, the Fraser Valley also shows a declined this month with the monthly price decrease of $3,176. We are forecasting Declining Detached Home Prices across most of the Fraser Valley and Vancouver Markets the next quarter.
Currently, the Condo Market presents a Cool Market with 87% of the Greater Vancouver (Lower Mainland) Condo Prices decreasing $6,482 on average. On the same note, 81% of the Townhouse Markets decreased $3,507 on average (23 out of 28 Markets). We are forecasting a Buyer’s Market in most Condo and Townhouse Markets for the coming quarter. 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.
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