Whether May was a good month for local real estate sales depends on how you looked at the market – sales were up, but prices continued to decline across most types of housing.

According to monthly statistics released by the Fraser Valley Real Estate Board, (FVREB) Langley saw 90 single-family homes sell in May, a 13.9% jump from April’s 79 sales, and a significant 21.6% increase from the same month a year ago.

As for townhouses, 74 changed hands in May, exactly one more than the 73 that sold in April, and one less than the 75 that sold in May 2025.

Condos sales were down slightly – 83 units sold, just 3.5% fewer than the 86 that changed hands in April, and 4.6% below the 87 condo sales year-over-year.

“We are seeing what I would consider a delayed spring market,” said Fraser Valley realtor Joe Pratap.

Normally, he sees around 30% of his overall business in the first 90 days of the year, but people have been contacting him later in the spring this year.

This year there are fewer first time homebuyers, due to economic uncertainty. Instead, buyers who are more financially sound are taking advantage of lower prices on certain types of homes, Pratap said.

“Demand for affordable single-family housing and property with rental suites are in high demand,” he said.

After 15 years as a member of the FVREB, Pratap said this is the first time he recalls price sensitivity being the dominant factor.

Prices remain below where they were a year ago across all segments of the market.

The benchmark price for a single-family house in Langley was $1,522,700, down a mere 0.2% from April, but still a full 6.8% below May 2025.

The benchmark price is the average price for a “typical” single family home in Langley. Notably both the overall average ($1,412,104) and the median price ($1,376,200) were lower, suggesting those who are buying homes are looking for deals.

The benchmark price of a townhouse was $817,100, up 0.6% from April, and still down 5.5% from the same month last year. The average price was $810,000, and the median was $808,765.

For condos, the benchmark price in May was $549,100, a 0.9% drop from April, and down a full 8.7% from the benchmark of $601,400 in the same month last year.

Regionally, listings of homes were still outpacing sales to the point that the region is considered a buyers market.

The Fraser Valley area has seen multiple price spikes since the early 2000s.

In 2006, 20 years ago, the average price for a detached home was about $400,000. If the price of homes had risen at the same pace as inflation, a house would now cost about $615,000, according to the Bank of Canada’s inflation calculator.

According to the FVREB, the regional average is currently just below $1.4 million.

Real Estate Sales See Small Growth in May in Langley by Matthew Claxton | Langley Advance Times