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Langley BC Condo Market Trends: Listings, Sales, and Price Comparisons for January 2025

Langley BC Condo Market Insights - January 2025 New Condo Listings Surge in January The number of new condo listings in Langley saw a dramatic increase in January compared to December. This jump from 83 listings in December to 227 listings in January represents a 175% monthly increase. This surge reflects typical post-holiday listing activity but also signals growing seller confidence in the market. Chart showing the sharp rise in new condo listings from December to January. Sales Activity Growth Year-Over-Year Condo sales in Langley demonstrated modest growth compared to the same period last year. In January, a total of 74 condos were sold, up from 67 units sold in January of the previous year. This represents a 10.4% year-over-year increase, highlighting sustained demand for condominiums despite broader market cooling trends. Chart comparing condo sales between January 2024 and January 2025. Benchmark Price Stability Amid Rising Inventory The benchmark price for condos remained stable at $603,900 in January, reflecting a slight monthly increase of 0.67% and a marginal annual gain of 0.17%. When compared to Metro Vancouver’s benchmark price of $748,100 for condos, Langley’s pricing remains significantly lower—approximately 25% below the regional average. Chart comparing Langley’s benchmark condo price with Metro Vancouver’s benchmark price. Key Takeaways The Langley condo market is showing resilience and adaptability as we enter the new year: - Inventory growth is providing buyers with more options. - Sales are increasing year-over-year despite challenges. - Prices remain stable, offering affordability advantages over neighboring regions. - Langley continues to attract buyers seeking cost-effective housing options. ---
Comprehensive Guide to Property Transfer Tax in British Columbia (2025): Rates, Exemptions, and Savings

Property Transfer Tax in British Columbia (2025) Understanding Property Transfer Tax The Property Transfer Tax (PTT) is a fee paid by buyers when purchasing real estate in British Columbia. It is calculated based on the fair market value of the property at the time of registration. PTT Rates in 2025: 1% on the first $200,000 2% on the portion from $200,000 to $2,000,000 3% on the portion from $2,000,000 to $3,000,000 5% on the portion above $3,000,000 (for residential properties only) Exemptions for Property Transfer Tax First-Time Home Buyer Exemption This program provides tax relief for eligible first-time homebuyers: Full exemption for homes priced up to $835,000 Partial exemption for homes priced between $835,000 and $860,000 Eligibility Criteria: Canadian citizen or permanent resident Lived in BC for at least one year or filed two BC income tax returns in the last six years Never owned a principal residence before Newly Built Home Exemption This exemption applies to newly constructed homes: Full exemption for homes valued up to $1,100,000 Partial exemption for homes valued between $1,100,000 and $1,150,000 Eligibility Criteria: The buyer must be a Canadian citizen or permanent resident The home must be used as a principal residence within 92 days of registration The property must not exceed 0.5 hectares in size Important Notes Foreign buyers face an additional tax of 20% in specified areas. If you move out of your exempted property within one year of purchase, you may need to repay part of the exemption. The exemptions aim to make homeownership more affordable while promoting housing development. © 2025 British Columbia Real Estate Insights
Fraser Valley & Surrey Real Estate Market Report | January 2025 | Vishav Brar

Fraser Valley & Surrey Real Estate Market Report | January 2025 Your comprehensive analysis brought to you by Vishav Brar, Surrey Real Estate Expert (Stonehaus Realty) - 604-754-8242 The Fraser Valley real estate market in January 2025 presents an interesting landscape. While economic uncertainties linger, a surge in inventory and relatively stable prices could be creating opportunities for savvy buyers. Let's dive into the details, drawing insights from the latest statistics from the Fraser Valley Real Estate Board and SnapStats® reports. Key Market Indicators Fraser Valley - Inventory & Sales (January 2025) Inventory: 7,251 Sales: 818 What Does This Mean for Buyers? Increased Selection: Fraser Valley inventory jumped 167% from December to January! Find your dream home. Price Stability: Composite Benchmark price decreased slightly by 0.03% to $964,800. Buyer's Market Conditions: The sales-to-active listings ratio sits at 11%, signaling an overall buyer's market, particularly for detached homes. Contact Vishav Brar to find the best deals! What Does This Mean for Sellers? Competition is Higher: Increased inventory means homes need to stand out. Get expert advice. Realistic Pricing: Overpricing leads to longer days on market. Call 604-754-8242 for a market evaluation. Strategic Marketing: Emphasize unique features and target the right audience. Vishav Brar's marketing expertise can help: info@vishavbrar.com Surrey Real Estate Market Snapshot (Detached Homes) Market Type: Buyer's Market The detached home market in Surrey indicates a Buyer's Market with a sales ratio of 7%. On average, homes are selling at approximately 100% of the list price. Buyers Best Bet (Surrey Detached): Homes $2.5M-$3M, Fleetwood Tynehead, Queen Mary Park, & 2 bed or less. Sellers Best Bet (Surrey Detached): Cedar Hills, West Newton, & minimum 3 bedroom properties. Ready to buy or sell in Surrey? Contact Vishav Brar today! Surrey Real Estate Market Snapshot (Attached Homes - Condos & Townhomes) Market Type: Balanced Market The attached home market in Surrey indicates a Balanced Market with a sales ratio of 12%. On average, homes are selling at approximately 100% of the list price. Buyers Best Bet (Surrey Attached): Homes $600K-$700K, Panorama Ridge, Whalley, & up to 1 bedroom. Sellers Best Bet (Surrey Attached): Fraser Heights & minimum 4 bedroom properties. Considering selling your condo or townhome in Surrey? Contact Vishav Brar for a free market evaluation. South Surrey / White Rock Real Estate Market Snapshot (Detached Homes) Market Type: Buyer's Market The detached home market in S. Surrey / White Rock indicates a Buyer's Market with a sales ratio of 9%. Homes are selling on average 3% below list price Buyers Best Bet (South Surrey / White Rock Detached): Homes $3M-$3.5M, Crescent Beach Ocean Park, Grandview, Morgan Creek & White Rock. Sellers Best Bet (South Surrey / White Rock Detached): King George Corridor & 3-4 bedroom properties. Need to find the right buyer or home? Contact Vishav Brar for help! South Surrey / White Rock Real Estate Market Snapshot (Attached Homes - Condos & Townhomes) Market Type: Balanced Market The attached home market in S. Surrey / White Rock indicates a Balanced Market with a sales ratio of 14%. Homes are selling on average 2% below list price Buyers Best Bet (S. Surrey / White Rock Attached): Homes $1.25M-$1.5M, Pacific Douglas, White Rock & 2 bedroom. Sellers Best Bet (S. Surrey / White Rock Attached): Sunnyside Park & up to 1 bedroom properties. Selling your condo/townhome in South Surrey/White Rock? Contact Vishav Brar! North Delta Real Estate Market Snapshot (Detached Homes) Market Type: Buyer's Market The detached home market in North Delta indicates a Buyer's Market with a sales ratio of 10%. Homes are selling on average 5% below list price Buyers Best Bet (North Delta Detached): Homes $1.25M-$1.5M, Scottsdale & 5-6 bed properties. Sellers Best Bet (North Delta Detached): Annieville, Sunshine Hills Woods & min 7 bed properties. Looking to buy or sell in North Delta? Contact Vishav Brar today! North Delta Real Estate Market Snapshot (Attached Homes - Condos & Townhomes) Market Type: Balanced Market The attached home market in North Delta indicates a Balanced Market with a sales ratio of 16%. Homes are selling on average 5% below list price Buyers Best Bet (North Delta Attached): Homes $600K-$700K, Annieville & 2 bedroom. Sellers Best Bet (North Delta Attached): Scottsdale & up to 1 bedroom properties Ready to navigate the North Delta Real Estate Market? Contact Vishav Brar! Cloverdale Real Estate Market Snapshot (Detached Homes) Market Type: Balanced Market The detached home market in Cloverdale indicates a Balanced Market with a sales ratio of 20%. Homes are selling on average 1% below list price Buyers Best Bet (Cloverdale Detached): Homes $1.75M-$2M, Cloverdale & min 7 bedroom properties. Sellers Best Bet (Cloverdale Detached): Clayton & 3-4 bed properties. Find the right home or buyer in Cloverdale with Vishav Brar! Cloverdale Real Estate Market Snapshot (Attached Homes - Condos & Townhomes) Market Type: Seller's Market The attached home market in Cloverdale indicates a Seller's Market with a sales ratio of 34%. Homes are selling on average 2% below list price Buyers Best Bet (Cloverdale Attached): Homes $1M-$1.25M, Cloverdale & min 4 bedroom properties. Sellers Best Bet (Cloverdale Attached): Clayton & 3 bedroom properties Considering your options in Cloverdale's real estate market? Contact Vishav Brar! Langley Real Estate Market Snapshot (Detached Homes) Market Type: Buyer's Market The detached home market in Langley indicates a Buyer's Market with a sales ratio of 11%. Homes are selling on average 2% below list price Buyers Best Bet (Langley Detached): Homes $1.75M-$2M, Aldergrove, Brookswood & 2 / min 7 bed properties. Sellers Best Bet (Langley Detached): Walnut Grove & 5-6 bedroom properties Find your ideal buyer or seller in Langley with Vishav Brar! Langley Real Estate Market Snapshot (Attached Homes - Condos & Townhomes) Market Type: Seller's Market The attached home market in Langley indicates a Seller's Market with a sales ratio of 24%. Homes are selling on average 2% below list price Buyers Best Bet (Langley Attached): Homes $1.25M-$1.5M, Fort Langley & min 4 bedroom properties. Sellers Best Bet (Langley Attached): Murrayville, Walnut Grove & 3 bedroom properties Navigating the Seller's Market in Langley? Contact Vishav Brar! Abbotsford Real Estate Market Snapshot (Detached Homes) Market Type: Balanced Market The detached home market in Abbotsford indicates a Balanced Market with a sales ratio of 13%. Homes are selling on average 5% below list price Buyers Best Bet (Abbotsford Detached): Homes $1.5M-$2M, Aberdeen & min 7 bedroom properties. Sellers Best Bet (Abbotsford Detached): Abbotsford East, Poplar & 3-6 bed properties. Get matched with the perfect detached home in Abbotsford - Contact Vishav Brar! Abbotsford Real Estate Market Snapshot (Attached Homes - Condos & Townhomes) Market Type: Balanced Market The attached home market in Abbotsford indicates a Balanced Market with a sales ratio of 16%. Homes are selling on average 1% below list price Buyers Best Bet (Abbotsford Attached): Homes $600K-$700K, Abbotsford West & 2-3 bedroom properties. Sellers Best Bet (Abbotsford Attached): Abbotsford East, Central Abbotsford & up to 1 bedroom properties. Need Expert help in the Abbotsford Real Estate Market - Contact Vishav Brar! Mission Real Estate Market Snapshot (Detached Homes) Market Type: Balanced Market The detached home market in Mission indicates a Balanced Market with a sales ratio of 13%. Homes are selling on average 4% below list price Buyers Best Bet (Mission Detached): Homes $1.25M-$1.5M, Mission & 3-4 bedroom properties. Sellers Best Bet (Mission Detached): Lake Errock & 5-6 bedroom properties Find Your Ideal Home In Mission By Contacting Vishav Brar! Mission Real Estate Market Snapshot (Attached Homes - Condos & Townhomes) Market Type: Balanced Market The attached home market in Mission indicates a Balanced Market with a sales ratio of 12%. Homes are selling on average 1% below list price Buyers Best Bet (Mission Attached): Homes $700K-$800K & 2 bedroom properties. Sellers Best Bet (Mission Attached): Mission & 3 bedroom properties Ready To Take The Next Step in Mission Real Estate? Contact Vishav Brar! Fraser Valley Market Trends by Property Type Benchmark Prices (January 2025) Property Type Benchmark Price Change from Dec 2024 Change from Jan 2024 Single-Family Detached $1,482,400 +0.1% +0.6% Townhomes $826,000 -0.2% -0.2% Apartments/Condos $534,600 +0.1% -1.2% Benchmark Prices by Property Type (January 2025) Detached: $1,482,400 Townhomes: $826,000 Apartments: $534,600 Days on Market Average Days on Market (January 2025) Property Type Average Days on Market Detached Homes 52 days Condos 42 days Townhomes 38 days Average Days on Market (January 2025) Detached: 52 days Condos: 42 days Townhomes: 38 days Expert Advice "The market appears to be in a holding pattern at the moment," said Baldev Gill, CEO of the Fraser Valley Real Estate Board. "There is no doubt that economic uncertainty is playing a role. The confluence of these conditions could provide unique buying opportunities, but we urge buyers and sellers to work with a REALTOR® to ensure they align with financial objectives." Ready to navigate the Fraser Valley real estate market? Contact Vishav Brar, your trusted local real estate expert. Email: info@vishavbrar.com | Phone: 604-754-8242 Final Thoughts January 2025 in the Fraser Valley real estate market presents a mixed bag. The surge in inventory provides opportunities for buyers, while sellers need to be strategic in their pricing and marketing approach. Keeping a close eye on these trends and seeking expert advice will be crucial for navigating the market successfully. Disclaimer: The data and analysis presented here are based on information from the Fraser Valley Real Estate Board as of February 2, 2025, and SnapStats® reports. Market conditions are subject to change. Contact Vishav Brar for personalized advice: info@vishavbrar.com | 604 754 8242.