Langford Real Estate Market Stats: November 2023 Update

Are you considering buying or selling a single family home in Langford, BC? It's essential to stay informed about the local real estate market to make informed decisions. In this blog post, we'll dive into the latest statistics for November 2023 and compare them with the previous month and the same month last year, using data sourced from the national MLS.

Active Listings

  • November 2023: 174
  • October 2023: 168
  • November 2022: 130

The number of active listings in Langford has seen a slight increase compared to last month, indicating a healthy inventory for potential buyers. Compared to November 2022, there's been a notable rise in available single family homes, providing more options for those in the market.

Number of Sales

  • November 2023: 15
  • October 2023: 17
  • November 2022: 35

The number of single family home sales in Langford for November 2023 has decreased slightly compared to the previous month and has significantly decreased compared to the same period last year. While there has been a decrease in the number of transactions, it's essential to note that the market can vary from month to month, and other factors like pricing and interest rates  may come into play.

Median Sale Price

  • November 2023: $1,150,000
  • October 2023: $940,000
  • November 2022: $1,175,000

The median sale price for single family homes in Langford for November 2023 has seen a significant increase compared to the previous month, with a median price of $1,150,000. It's interesting to note that this median price is still slightly lower than the median sale price in November 2022. This suggests that while prices have risen recently, they remain relatively stable when compared to the same month last year.

Average Days on Market

  • November 2023: 26
  • October 2023: 41
  • November 2022: 29

Homes in Langford are spending less time on the market in November 2023, with an average of 26 days. This is a notable improvement compared to October 2023, where homes were on the market for an average of 41 days. However, it's essential to remember that this data represents an average, and individual properties may vary in terms of their time on the market.

Conclusion

In conclusion, the Langford, BC single family home market is displaying some interesting trends for November 2023. While the number of sales has decreased compared to the previous month and the same month last year, the median sale price has increased, suggesting that the market remains robust and competitive. Additionally, homes are selling faster than they were in October 2023. If you're considering buying or selling a single family home in Langford, these statistics can help you make informed decisions and navigate the current real estate landscape effectively. Be sure to consult with a local real estate expert for personalized guidance and advice tailored to your specific needs.

Data sourced from National MLS as of December 2023. All information is believed to be accurate but is not guaranteed and should be independently verified.

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