Over the last 12 months, townhomes made up 32% of MLS sales in the Township of Langley. That’s more than detached homes (31%) or apartments (26%). I don’t have the numbers for non-MLS deals, but based on my anecdotal evidence, I imagine that the popularity of townhomes would either meet or exceed these ratios. The reasons are fairly obvious. Townhomes represent a sweet spot of relative affordability and livability in an urban environment. They are something you can both grow up into, or downsize to. They are, in effect, the “missing middle” that so many urban planners talk about.

In my own business, townhomes represent what most of my clients ask for. While I don’t promote new development anymore than a resale home, there is no doubt that due to government incentives (ie. property transfer tax exemptions) and the simple enjoyment of a “new” home leads many of my clients to focus their search in new development projects. On behalf of a few clients - as well as some social media content - I took a drive around the other day and found 19 current, or very soon to be available, townhome projects. Here is a very brief synopsis of what’s on the market. They are more or less in order from North to South - no other particular order. My recommendations, however, are only available within a agent-client relationship. Shoot me a message - brad@langleyhomes.ca - if you are interested in any of these projects.

View Google Earth Map

LĒAH by Conwest Developments (ALMOST SOLD OUT!)

9122 King Street (Fort Langley)

Units: 41 |  Bedrooms: 3-4 | 

Timeline: SPRING 2024 | Completion: FALL 2024

Pricing: From $1,125,900 + GST | Brochure Link

Marketing: Breakside Real Estate Group

ASTON by Archwood Developments (COMING SOON)

8433 203A Street (Willoughby)

Units: 45 |  Bedrooms: 3-4 | Unit Size: 1,329 - 1,703

Selling: SPRING 2025 | Completion:

Pricing: Coming Soon | Brochure Link Coming soon

Marketing: Axis Real Estate Solutions

AVIVA by Zail Properties

20164 81A Ave (Willoughby)

Units: 68 |  Bedrooms: 2-4 | Unit Size: 1,310 - 1,993

Selling: SPRING 2024 | Completion: COMPLETE

3 Bdrm from $899,900 (March 2025) | Brochure Link

Marketing: Momentum

EASTIN by Essence Properties (ALMOST SOLD OUT)

8120 200A Street (Willoughby)

Units: 20 |  Bedrooms: 3 | Unit Size: 1,560 - 1,905

Selling: SPRING 2024 | Completion: COMPLETE

3 Bdrm from $949,900 (March 2025) | Brochure Link

Marketing: Eastin Sales Team

RENFREW by CastleHill Homes (ALMOST SOLD OUT)

20329 80th Avenue (Willoughby)

Units: 56 |  Bedrooms: 2-4 | Unit Size: 1,268 - 1,510

Selling: SPRING 2024 | Completion: COMPLETE

From $899,900 (March 2025) | Brochure Link

Marketing: Breakside Real Estate Group

HEATH WEST by BM Group

7918 204B Street (Willoughby)

Units: 67 |  Bedrooms: 2-4 | Unit Size: 1,268 - 1,510

Selling: JAN 2025 | Completion: CURRENT/ONGOING

2 Bdrm from $819,900 (March 2025) | Brochure Link

Marketing: Breakside Real Estate Group

TOWNSIDE VILLAGE by Warwickshire Homes (COMING SOON)

20650 78th Avenue (Willoughby)

Units: 93 |  Bedrooms: 3-4 | Unit Size: 1,329 to 2,074

Selling: SPRING 2025 | Completion:

3 Bdrm from ? (March 2025) | Brochure Link COMING SOON

Marketing: Fifth Avenue Real Estate Marketing

GRIFFON by Sunmark (COMING SOON)

77A Avenue & 207 Street (Willoughby)

Units: 68 |  Bedrooms: 4 | Unit Size: Coming Soon

Selling: SPRING 2025 | Completion: Coming Soon

4 Bdrm from ? (March 2025) | Brochure Link COMING SOON

Marketing: Axis Real Estate Solutions

CROFTON by Atrium Group (ALMOST SOLD OUT)

20763 76th Avenue (Willoughby)

Units: 80 |  Bedrooms: 4 | Unit Size: 1,650 to 2,131

Selling: Final Phase | Completion: CURRENT

4 Bdrm from $939,900 (March 2025) | Brochure Link

Marketing: Macdonald Platinum Marketing

SAXON PARK by Wesmont Homes (JUST RELEASED!)

7762 203rd Street (Willoughby)

Units: 31 |  Bedrooms: 3 | Unit Size: 1,450 to 1,602

Selling: March 2025 | Completion: April-Dec 2025

3 Bdrm from $949,900 (March 2025) | Brochure Link COMING SOON

Marketing: Breakside Real Estate Group

LATIMER WALK by Zenterra 

7661 198B Street (Willoughby)

Units: 62 |  Bedrooms: 3-4 | Unit Size: 1,302-1,457

Selling: Spring 2024 | Completion: FEB 2025

3 Bdrm from $? (March 2025) | Brochure Link

Marketing: Zenterra Sales Team

ADDITION+ by Redekop Ferrario*

20335 70A Avenue (Willoughby)

Units: 87 |  Bedrooms: 3 | Unit Size: 1,413-1,645

Selling: Spring 2025 | Completion: Ongoing

3 Bdrm from $840,000 (March 2025) | Brochure Link

Marketing: momentum

*previously “THE WILLOUGHBY” by QRD

CASCADIA by Streetside Developments 

6951 204th Street (Willoughby)

Units: 231 |  Bedrooms: 2-3 | Unit Size: 1,249 - 1,485

Selling: Spring 2024 | Completion: Ongoing

3 Bdrm from $849,900 (March 2025) | Brochure Link

Marketing: Cascadia Sales Team (Qualico Realty)

6989 204th STREET by Rising Sun Homes

6989 204th Street (Willoughby)

Units: 18 |  Bedrooms: ? | Unit Size: ?

Selling: Current | Completion: Ongoing

Prices ? (March 2025)

Marketing: Rising Sun Homes

WILLOW HEIGHTS by Apna Group (ONLY 4 BDRMS REMAINING!)

20463 70 Avenue

Units: 22 |  Bedrooms: 3-4 | Unit Size: 1,607-2,418

Selling: Spring 2024 | Completion: Ongoing

4 Bdrm from $1,069,900 (March 2024) | Brochure Link

Marketing: Prima Marketing, Ltd.

GORDON SQUARE by Paddington Properties (ALMOST SOLD OUT!)

20643 68th Avenue (Willoughby)

Units: 32 |  Bedrooms: 3-4 | Unit Size: 1,517-2,216

Selling: Spring 2024 | Completion: Ongoing

3 Bdrm from $969,900 (March 2025) | Brochure Link

Marketing: Axis Real Estate Solutions

EVERGREEN (Phase II) by Isle of Mann Group/PollyCo (COMING SOON)

21688 52nd Avenue (Murrayville)

Units: 24 |  Bedrooms: 3-4 | Unit Size: 1,493-2,098

Selling: TBA | Completion: TBA

Prices TBA (March 2025) | Brochure Link COMING SOON

Marketing: RE/MAX Treeland & RE/MAX 2000

OXFORD MEWS by Leone Homes

20816 45A Avenue (Langley City)

Units: 6 |  Bedrooms: 5 | Unit Size: 2,149-2,190

Selling: TBA | Completion: TBA

Prices TBA (March 2025) | Brochure Link

Marketing: RE/MAX Treeland & RE/MAX 2000

MARILYN ON THE PARK by Sync Properties

5378 198th Street (Langley City)

Units: 43 |  Bedrooms: 3-4 | Unit Size: 1,316-1,545

Selling: Spring 2024 | Completion: May 2025

3 Bdrm from $829,900 (March 2025) | Brochure Link

Marketing: Prima Marketing, Ltd.

All information on this page is not guaranteed to be 100% accurate. The information is received from marketing websites and email communication with developers and/or their sales teams. All information is subject to change. Brad Richert and Real Broker, Ltd. do not represent any of the aforementioned developments. 

In several Greater Vancouver and Fraser Valley markets, the pulse on the ground over the last few weeks has been a massive increase in open house activity and even anecdotal evidence of multiple bids on new listings. But what does that data actually show?

In the real estate world, there are two benchmarks that best gauge buyer and seller demand: the absorption rate and the average number of days on market. I rely heavily on the former and more or less disregard the latter. The average days on market isn’t really that useful since it only gives data on sold properties and doesn’t give any insight on active properties, which is an important part of the supply and demand equation. 

Different organizations use different thresholds to define “buyer”, “balanced” and “sellers” markets - and they even change those over time. For example, the before 2015, the Fraser Valley Real Estate Board defined a balanced market as any sales to listing ratio between 18-22%. Anything ratio below that was a “buyers market” and anything above that was a “sellers market”. Today, they use the 12-20% to define a “balanced market” (as seen pictured below) which is also used by the Canadian Real Estate Association (CREA).

Personally, I think this “nationalization” of definitions isn’t very helpful. Real estate markets are inherently local and the expectations of relative markets are more cultural than they representative by a quantitative figure. Regardless of how organizations and economists define these markets, the fact is that the data itself is quantitative and can be measured and compared over time.

The sales to listing ratio is one way we can understand the “absorption rate”. It can also be put into terms of “months of inventory”. If the sales to listing ratio is 20%, it means that we have 5 months of inventory (eg. 20 sales/100 active listings = 20%, 100 active listing/20 sales = 5 months of inventory). If the sales to listing ratio is 12%, it means that we have over 8 months of inventory. There are some alternative ways of calculation absorption rate, such as replacing the number of sales in the past month to the average number of sale over the past year. This latter metric is often useful for seeing longer term trends.

I realize I’m getting technical. This information, however, is important to understand when gauging how fast the market is moving. Take another glance at that sales to listing ratio graph for the Fraser Valley over the last two decades. Now compare them with the benchmark price of homes in the area:

Putting together, you get this helpful abomination:

Economics 101 tells us that when the number of sellers increase and the number of buyers decrease, the market softens and prices go down. If the number of buyers increase and the number of sellers decrease, then the market picks up and prices go up. This is exactly why the sales to listing ratio is so important to understand the temperature of the market - much more than “number of sales” or any other metric. 

You might notice that I am using two different graphs, seemingly from the same source. Yes, they are both delivered by the real estate board and provide MLS statistics, but they do NOT line up exactly. The black line graph directly from the FVREB statistics package uses slightly different definitions than the colourful “ShowingTime, LLC” graphs. Be aware that the percentages given in one will not be the same as the other since both define a “sale date” and an “active listing” differently than each other.

Focusing on the last 6 years in the Fraser Valley Real Estate Board (which covers municipalities south of the Fraser from North Delta - but not South Delta - to Abbotsford, plus Mission - but not Maple Ridge… don’t ask why), you can see which years were the “sellers markets” and the “buyers markets”, whether you want to use a “18-22%” or “12-20%” threshold. You can also how different housing types have different fates. Townhomes are regularly the consistently most “seller friendly” housing type, partially because of their limited supply throughout the region. There have only been a handful of communities that really have built townhomes on a mass scale over the past two decades, much of which explains much of their population explosion. Interestingly enough, despite Canada’s record immigration intakes, MLS sales have been at all time lows over the last 2 years (the link include a graph of 12-month rolling sales).

Regardless of the differences behind these numbers, what we have seen among all housing types is that there hasn’t been a single month where the sales to listing ratio went under 12% since January 2013. Even throughout the the ups and downs of the last decade, the slump of 2019 or all of 2023 as interest rates rose, the sales to listing ratio throughout the Fraser Valley held above 12%. This is one reason I really don’t like the “12-20%” definition of a balanced market.

So, in a way, I tricked you with my headline. Technically, we have not been in a buyers market in the Fraser Valley - at least according to a certain definition- in 12 years (the GVR, on the other hand, has had some more volatile numbers). 

But in another way, I didn’t trick you. I’ve been selling real estate since 2010 and, as I mentioned before, the previous threshold for a balanced market was 18-22%. You can see this in the FVREB’s December 2014 statistics package: 

For some reason, in January 2015, they changed this. I don’t know why. Yet, I actually still use this since I feel it is a better representative of our local market. I also like it better because most of the time that I’ve seen this ratio dip into the 12-16% range for multiple months, I do, in fact, see prices soften in most markets. If this is the case, then the Fraser Valley would be defined as being in a “buyers market” since July of 2024:

At the end of the year, the detached home market continues to lag around the 15% mark, whereas townhomes had a ratio of over 24% and the apartment market was up at 19.6%. Since September, when the ratio hit a low of 12.5%, the sales to listing ratio has been trending upward, but still in the 16-18% range. The benchmark price among most housing types in most local markets have continued to decrease during this time.

This trend is fairly common when we’ve seen a market in decline. Buyers at some point start waking up to recent affordability as values have been declining. This transitionary market phase is when the most buyers capitalize on the lowest home prices before critical mass takes over. 

So amidst all this data, let’s revise the original question: based on an archaic, but potentially more useful definition of a buyers market, has the market shifted in favour of sellers? And if so, does this mean that we should see price increases in January 2025’s figures and beyond?

As I write this on January 23, 2025, my speculation is yes on both accounts. I believe we are seeing the upswing on buyer demand where we will start to see the benchmark price increase in most markets in the region. As we have often seen with prolonged sales lulls in the past, pent up demand can come back quite rapidly. This was the case in 2015-2017 and 2020-2022. With consecutive interest rate drops in 2024 and a barrage of new mortgage rules that are making it easier for buyers, especially first time home buyers and purchasers of newly built homes, market activity is already bouncing back early in 2025. 

Brad’s Tangent on Tariffs:

Due to uncertainty with global affairs there is, of course, still hesitancy in the marketplace. Impending likely tariffs on Canadian goods to the United States and the retaliatory trade war could certainly affect bond rates in both countries. This could drive interest rates back up which would likely stall the market - at least temporarily. At the moment, however, it does not appear that this is influencing the decision making of buyers and sellers, especially considering we’ve been here before back in 2018 when Trump slapped tariffs on a multitude of Canadian products.

Alberta is likely the most affected by potential tariffs, which is one major reason for Premier Danielle Smith’s break from an otherwise pretty aligned Canadian front. Albertan oil extraction is the most American-dependent industry in the country, accounting for 22% of the province’s GDP. Of course, the sector also accounts for around 5% of Canada’s GDP.

I am not an economist, but I would advise Canadians to refrain from buying into doomsday scenarios. Without sounding “pro-tariff”, Canadians should respond with strength beyond retaliation. We should use this opportunity to support Canadian-owned businesses and Canadian-made products. We should foster protection of small businesses that have often been overtaken by large American corporations over the past 40 years. Pushing for economic resiliency within Canada will also require further diversification of our trading partnerships with Pacific Rim and European nations. We should be using this trade conflict as an opportunity to reduce the economic complacency and lack of innovation that Canadians have found themselves in since, essentially 1994’s NAFTA agreement.

I’ve been obsessed with real estate statistics a lot longer than I’ve been a licensed agent. I’ll never forget the day when the Fraser Valley Real Estate Board approved my membership after passing my real estate exam in 2010 and I suddenly had access to so much more data than I ever had. I’ve never lost this nerdy obsession. Almost 15 years later, I still wait excitedly for our information packages from the board. 

It isn’t data for it’s own sake that interests me. It’s the objective stories the numbers tell. Yes, anecdotal evidence from my own experience, as well as my colleagues, helps. Yet the data is what backs up what we are “feeling” on the ground. We can also take the hard data, interpret the trends and use that information to appropriately guide our clients. Here is the truth: any gifted salesperson in the industry can fly by the seat of their pants, hype up a presale project, or convince someone to buy or sell because, well, it’s how we make a living. However, it takes someone who not only truly cares about your interests (we all at least tell ourselves this), but can also genuinely translate what the numbers show us. The reason that I review every council meeting in the Fraser Valley, every provincial building permit statistics made publicly available, and make sure that I am alerted to even the most minuscule changes to the data: it’s to serve you and to do my best to make sure that as many homeowners (and renters) are appropriately, and ethically, informed.

This review will focus primarily on Langley because it allows me to go a bit deeper than I could if I spread myself out throughout the Valley. However, if you are interested in Surrey, White Rock, Abbotsford, or Chilliwack real estate information, please feel free to reach out to me directly.

2024 was a year of both transition as well as stability in Langley and throughout the Fraser Valley. Inflation outpaced the benchmark values on all three major housing types in the region. However, despite 5 consecutive interest rate drops, home values continued to drop throughout the second half of 2024 after seeing some increase in spring. When it comes to sales figures, which REALTORS probably care more than the general public, there were some improvements in 2024 over 2023’s disheartening statistics, especially with townhomes - but more on that below.

DETACHED HOMES

The Langleys had only nominal value gains when taken as a whole, with only Willoughby showing any annual increase almost comparable to inflation. Walnut Grove was the only neighbourhood to lose value, albeit only be a nominal amount. The greatest disparity between Langleys neighbourhoods can be seen in the number of sales. The Township’s two largest communities of Willoughby and Walnut Grove, plus Aldergrove all had significant recoveries compared to 2023 sale numbers. Meanwhile, Langley City, Murrayville and Fort Langley all had more decreases in the sales figures.

A deeper look into the year shows a nuanced storyline, and not one that lines up with what we would expect. Between January and May, the typical Langley home value rose by 4.7%. The general feeling on the ground was pretty positive within the industry. Yet, the sales to listing ratio, which best defines the supply-to-demand in the region, and the benchmark values both dropped throughout the summer months, despite two interest rate cuts in June and July. Unlike sales in the USA, the summer tends to have the most sales in most Canadian markets, but no dice for 2024. Values did see a bump in August, but it was downhill from there. Langley’s detached home market would lose -2.5% of value between August and December, even though the Bank of Canada would cut rates three more times by 1.25 basis points.

So what’s the story? My opinion is that there is a balance between a overall lack of confidence in the marketplace while a continued anxiety about price points for detached homes. Unfortunately for many homeowners, it is likely that their home value may currently (as of this month at least) be less than what is on their 2025 BC Tax Assessment this year - which is probably not something they are use to. Even with increased support by the provincial and federal governments for secondary suites, the price point for a basic detached home is, frankly, out of line with what the average Langley resident can afford. Unless apartment and townhome prices significantly increase to allow for those homeowners to jump to a detached home, OR the federal government allows for foreign ownership again, there isn’t really any mechanism for prices to rise. Keep in mind that my analysis are not value statements. Whether or not our governments should incentivize or restrain housing prices is a political question that is above my pay grade. However, if the goal was to mitigate rising home prices for 2024 despite reduced interest rates, the government more or less did their job. All that said, there are signs that the market has been in a slow recovery since November and the most recent interest rate drop may be inspiring buyers to come back. Something tells me that we will see some numbers shift this January and February.

Looking to buy a detached home in Langley? Browse the detached home market here (NO signup required).

TOWNHOMES

The Township of Langley townhome market experienced steady sales growth compared to a dismal 2023, which was among the lowest in recent history. The City of Langley, however, continued to see townhome sales decline, which is somewhat expected as the City has more focus on apartments. Without new construction numbers to boost sales figures, this number expectedly decreases in a softer market. Similar to detached homes, there was very little difference between December 2023 and December 2024 townhome values.

The two neighbourhoods that bucked the trend were Aldergrove’s entry level market and Fort Langley high end market. Both neighbourhoods not only had values increase by over 5% over the year, but they also had significantly sales volume boosts. As they are low inventory communities, these numbers do have a tendency to fluctuate greater than others. In the case of Fort Langley, the new “Leah” development by Conwest counted for over half of Fort Langley’s townhome sales. 

Willoughby accounted for just shy of 65% of all Township of Langley MLS townhome sales, which is pretty much identical to its proportion in 2023. I do also want to make it clear that these a benchmark values, which means we are not comparing apple to apples within the townhome market. These figures represent the TYPICAL townhome in each individual neighbourhood. A $887,700 townhome in Willoughby is very different than a $625,500 townhome in Aldergrove. Each neighbourhood has it’s own definition of a benchmark home.

The 2024 timeline for Langley’s townhomes differed a bit from detached homes, but shared some similar trends. Although we didn’t really see a spring bump, there was a steady incline from the first quarter, where the typical townhome was around $858,000, to August when the peak value reached almost $885,000. However, from there on out, values fell by almost -2.5% in 4 months. So just like detached homes, this drop in the second half of the year means your BC Assessment value might be higher than your current market value. However, I need to stress that this is based on conservative benchmark figures and we have seen signs in the past two months that prices are on the rebound. Although the sales to listing ratio bounced around all year, it never once dropped into a “balanced market”, much less a “buyers market” territory. This means that although sales were relatively low, so was the inventory, which kept prices from sliding too much.

Looking to buy a townhome (or rowhome) in Langley? Browse the townhome market here (NO signup required).

APARTMENTS

A similar story is found with Langley’s apartment market over the course of 2024. There was less than a 1% appreciation in the benchmark value in the Langley between December 2023 and December 2024. Langley’s most affordable neighbourhood, Aldergrove, experienced the most gains, at +3.3%, but still remains under the $500k threshold. The overall Langley apartment market did peak early on in March, jumping from under $595,000 in December 2023 to over $620k in March. Although the market held steady through the middle of the year, values started declining in the summer. Values from from $618k in July back down to where we started the year off, just under $600,000.

Almost every neighbourhood had a decrease in sales figures, with the exception of Aldergrove and Murrayville. Brookswood doesn’t count because there aren’t any sales… yet. Aldergrove’s percentage jump may seem impressive until you realize that’s just an increase from 14 sales to 17. Murrayville’s bump of almost 40% is a bit more interesting, since there were no new builds included in that number and over half of the sales were for units in 20-50 year old buildings.Willoughby made up 78.3% of the Township of Langley apartment sales, which is almost identical to 2023’s 78.9%. 

Similarly to what I’ve written about detached homes and townhomes, the fact that values fell in the second half of the year likely means that many BC Assessments, which are based on sales and values from the first half of 2023, will be higher than the current market value. Sales have been falling steadily since August and, unlike the other housing types, Langley apartments did not experience a sales bump in October/November. 

Looking to buy an apartment in Langley? Browse the apartment market here (NO signup required).

NEW CONSTRUCTION

Sales data for new construction isn’t as reliable because many sales are done off the MLS and there isn’t a definitive database that tracks every sale. Some new home marketing firms, such as MLA Canada, are fairly transparent and informative with their research, but I personally can’t rely on any one source. I also don’t find the MLS data on new construction helpful since it really is up to each marketing firm how many, if any, units they decide to put on the MLS. However, I think it’s important to analyze building permits in the Township and City of Langley so they we have a good understanding of what’s coming in the future. 

*I’m still waiting on the final City of Langley building statistics, so I will update this section once I receive those figures.

The Township of Langley issued 2,493 residential building permits in 2024, an increase of +33.8% over 2023’s figures. This isn’t a shocker, considering 2023 was the lowest number of permits since 2018. 2024 was +8% over the 5 year average (2019-2023).

The number of detached homes and secondary suites did experience reductions in 2024, -10% for detached and -22.8% for suites. Multifamily (townhomes & apartments) were up +71.3% compared to 2023. The 1,842 units was the second highest year for multifamily permits issued (the highest was 2,215 units in 2019).

LOOKING FORWARD TO 2025

Most industry experts are expecting sales volume increases throughout the province for 2025. The expert I generally trust most over the last few years has been the British Columbia Real Estate Association’s Chief Economist, Brendon Ogmundson, who has been pretty spot on since he took over the role in 2019. In the BCREA’s November report, the outlook suggested a +12.7% province-wide increase in sales with a +3.3% increase in average values. The Fraser Valley is expected to have a +14.3% jump in sales with a more muted +1.5% increase in average values. Attached townhomes are expected to outpace other housing types in both metrics.

Notably, Ogmundson and the BCREA also predict another decrease (-5.1%) in housing starts in 2025, which is running contrary with the province’s goals, but is a reality of the high risk, high cost, volatile presale market. Relative weak condo prices in the face of high development costs and stubborn landowners will inevitably keep new development units low.

In a late November presentation that Ogmundson gave to Fraser Valley Realtors, he did admit that any optimism about 2025 and beyond should be tempered by the implementation of Trump’s tariffs. He provided a host of best case to worse case scenarios.

CONTACT US

Brad Richert, Associate Broker

Brad is your local real estate nerd for residential and commercial real estate throughout Langley and the Lower Mainland.

For a free, no pressure, no obligation home evaluation and/or property purchase strategy, contact Brad:

Phone: 778-240-4239 (text/whatsapp ok)

Email: brad@langleyhomes.ca

According to a recent report, one real estate company is predicting that British Columbia's ski resort real estate market is poised for a significant upswing in 2025.

After a period of declining prices through 2024, the Royal Lepage 2024 Winter Recreational Property Report is forecasting an 8.5% increase in single-family home prices for 2025. Big White, near Kelowna, anticipates a 5% rise, while Whistler expects a 9% surge. The report cites such factors as exemptions from short-term rental restrictions and the foreign buyer ban as well as a strong U.S. dollar, are the cause for driving renewed interest. 

I don’t know anything about the ski resort real estate market, but I’m lucky enough to have many great colleagues who know those areas well. Over on my instagram page, I just posted an interview I had with two Real Broker agents who live and work in the Big White Ski Resort area near Kelowna. I highly recommend that you check it out.

If you are interested in purchasing property in Whistler, Sun Peak, Big White or any of the other ski resorts around the province, shoot me an email at brad@langleyhomes.ca and I’ll connect you with the absolute best in the business!

🎒✨ Attention Langley Parents! ✨🎒
Are you ready for your little one’s big milestone? Kindergarten registration for the 2025-2026 school year opens this upcoming Monday, January 6, 2025! 🌟

If your child was born in 2020 and turns five by December 31, 2025, it’s time to get them signed up for a new adventure. Registration is completely online and runs until Tuesday, February 18, 2025.

📋 What you’ll need:
✔️ Proof of your child’s age
✔️ Proof of parent or guardian’s citizenship status
✔️ Proof of residence
✔️ Proof of guardianship

📲 Visit the Langley School District website for full details and a checklist of required documents to make the process easy!  

If you’re a new Langley resident with children OLDER than Kindegarten, be sure check your catchment with this tool and register your child(ren) here. Also, for Willoughby parents, make sure you read the district’s December 2024 letter about catchment updates here.

TOWNSHIP & CITY OF LANGLEY MARKET UPDATE

The Langley market experienced a bit of a statistical departure in July from the rest of the Fraser Valley, with two housing types - detached and apartments - holding steady, and one - townhomes - actually seeing an increase in value midway through summer.

Detached Homes

Based on 298 July sales in the Langleys (down slightly from 301 in June), the benchmark detached home value fell slightly from $1,637,500 to $1,635,100. July’s benchmark figure is an increase of +1.0% over this time last year. Detached home and homes with acreages represented 29.2% of sales in July. The sales to listing ratio fell from 21% in June to 16.1%, the lowest its been since December 2023. This represents 4.6 months worth of inventory and is considered buy most thresholds as a “buyers market”. The number of active detached home listings reached 477 at the end of the month, which is the highest we’ve seen since June 2019 (487).

Townhomes

After two months of declining sales for Langley’s townhomes, July actually saw a sharp spike to 106 sales (up from 86 in June). This helped boost the benchmark price from $872,600 to $878,900, which represents an increase of +2.9% vs last July. Unlike the detached home market, the sales to listing ratio rose solidly in sellers’ favour, from 32.1% in June to 41.9% in July (or 2.4 months of inventory). The average sales price jumped to $907,165 in July, which when compared with the benchmark price, suggests that townhomes on the higher end of the market is what is selling. This is likely due to larger townhomes being the natural replacement for detached homes. Townhomes represent almost 36% of all Langley sales, which is the largest market segment.

Apartment

Langley’s apartment market has been stagnant since around March, when the benchmark price jumped from around $610,000 to $620,000. Since then, the benchmark value as floated between $618,000 and $620,000. July’s $618,300 value is +1.2% more than 12 months earlier. The number of sales declined from 104 in June to 95 in July, while the number of total listings remained steady at 397. This caused the sales to listing ratio to fall from 26.1% to 23.9%, or 4.2 months of inventory, which is considered a weak sellers market. The average price per square foot for Langley apartments remains stable at $687. Broken down into Langley’s two largest apartment markets, the average price per square foot in Willoughby is $728 (-1.5% vs 2023) and $629 in Langley City (+9.0% v 2023). Apartments represent almost 32% of all sales in Langley.