Langley Real Estate Market Plummets: Sales Down 36% in August

UPDATE: The Langley real estate market is facing an alarming downturn as August sales figures reveal a staggering 36% drop from the 10-year average. New data from the Fraser Valley Real Estate Board (FVREB), released on September 3, 2025, shows that only 931 homes were sold across the Fraser Valley region, marking a dramatic 22% decrease from July and a 13% decline compared to last year.

This sharp decline has firmly positioned Langley in a buyers market, with the sales-to-listing ratio plummeting to just 9%, down from 11% in July. The market has been in a prolonged slowdown since the end of the real estate frenzy that took off during the COVID-19 pandemic.

In Langley specifically, the impact is particularly stark for condo sales. Only 48 condos changed hands in August, representing a jaw-dropping 44.2% year-over-year drop and a 41.5% decline from July. Meanwhile, 72 single-family homes were sold, showing a modest 4% decrease year-over-year, but a significant 19.1% drop from July’s numbers. Townhouses fared slightly better, with sales up 14.3% from last August, although down 12.2% from the previous month.

Benchmark prices in Langley are also feeling the heat. The average price of a single-family home has dipped to $1.59 million, down 3.4% from last year. Townhouses are now priced at an average of $848,100, a 4.1% decline, while condos are at $589,500, reflecting a 3.6% drop year-over-year.

Baldev Gill, CEO of FVREB, stated, “The economic uncertainty that has shaped the housing market for much of 2025 now seems to have been factored into market dynamics, as evidenced by a sustained softening of prices. Some buyers who had been holding off are starting to recognize that waiting for greater certainty could mean missing opportunities, particularly in a market where conditions now clearly favour buyers.”

Despite recent price reductions, the long-term trend remains concerning. Compared to a decade ago, single-family homes in Langley have skyrocketed by 133.6%, townhouses by 155.2%, and condos by 169.7%.

As the market continues to shift, potential buyers may find opportunities that were previously out of reach. Authorities suggest that keeping an eye on these developments is crucial, as the landscape of the Langley real estate market evolves dramatically.

For immediate updates, follow local news channels and the FVREB for the latest insights into the housing market, especially as September unfolds. The urgency for buyers and sellers alike is palpable as the market trends indicate significant changes ahead.