Looking for your next condo? Whether you are a first-time new home buyer or a seasoned investor, the sale of condos has been on the rise for quite some time in Langley. Listings Nearby has the most thorough, up-to-date catalogue of new condo developments in Langley BC. Langley has 46 new real estate developments on the market, including 19 new condo development projects. This number is expected to increase in the coming year or so, considering the demand for new homes.
According to MLS® Home Price Index – Fraser Valley Real Estate Board (September 2020), the benchmark price in Langley BC for new condos is $404,100. This price has increased by 89.7% for condominiums within the last 5 years.
Move-In Ready Condos
All New Construction Condos in Langley BC
New Condo Developments in Langley BC
Real estate agents are quite surprised by the recent demand for new construction condos in Langley.
There are 3 mainly hot neighbourhoods in Langley where most of the new build real estate projects are under progress. These neighbourhoods are Willoughby Heights, Langley city, and Murrayville. Alone Willoughby-Willowbrook community has over 10 new condo development projects under progress.
The demand for new construction Condos in Langley is increasing every year because of the influx of new immigrants and residents moving in from cities like Vancouver, Burnaby, and Surrey.
Keeping in mind all income level homebuyers, the real estate developers are focusing on building entry level condos aimed towards first time buyers to ultra luxury dwellings and penthouses for high income stream.
New Condo Development Projects in Langley
Currently, there are many new condominium projects in progress by some local real estate builders & developers. They are mostly low to mid-rise buildings and in their different phases of construction viz; preconstruction, construction, or some of them have even completed their construction and ready to move-in. Some of these names include Aristotle – 173 units by ML Emporio Properties, Union Park – 589 units by Polygon Homes, Park Hill – 145 units by Forewest Group, Focus – 174 units by Phoenix Homes BC, Alexander Square Condos – 308 units by RDG Management Ltd.
Apart from quality construction to well laid out interior plans, all the developers are providing additional elegant features in their development projects to attract the new home buyers, thus expediting their sale. These additional features include amenities like swimming pool, clubhouse, children’s play area, rooftop patio, multimedia room, theatre, hot tub, and social lounge.
Presale Condos in Langley
Acquisition of pre-sale condos is becoming quite common and is the hottest trend in the lower mainland. You own a new condo at its lowest starting price, thus gain maximum appreciation in the price over a period.
During the presale period which lasts only for a few days, some big developers offer a huge discount in the price, others offer luxury name brand appliances, cabinets, windows, etc., some offers flexibility in the payments. Many builders have reported pre-selling almost 80% of their inventory during the presale period. This applies to both entry level condos and luxury penthouses. A serious buyer or an investor must grab this opportunity as soon as you can before it is over.
Presale of condominiums is driving the real estate growth in Langley. This is quite apparent in the ongoing multiple presale condo showings and presentations.
Preconstruction Condos in Langley
If you are not in a hurry to move-in, it is very wise decision to invest in new condo projects which are in preconstruction phase of their development. It is beneficial both for seasoned investors and new home buyers. You get enough time to make the full payment to the developer and thus defer your mortgage to start. Since the sale prices have been consistently growing in Langley in the last few years, it is a very viable market for investors and home buyers to invest in the preconstruction phase.
If the preconstruction condo is in a gated community, that increases the property value substantially over a period. It is always a plus for the average home buyer or the investor giving these properties a high appreciation rate.
Condominiums in preconstruction in Langley are very diverse in build, location and size which makes it a balanced market. The selection of two to three-bedroom condos on average is very appealing to most.
Langley Condos Real Estate Market Stats
According to MLS® Summary – Fraser Valley Real Estate Board (September 2020):
- The sale of condos / apartments in September 2020 was 482 which was 14.2% more than 422 sales in August 2020, and 33.5% more than 361 sales in September 2019. The median price was 1.0% less than in August 2020 and 5.7% more than in September 2019.
Despite the dramatic rise in property prices in the last decade within the lower mainland, Langley’s real estate market continues to appear like a deal, comparing to other Canadian real estate markets.
If you’re looking to buy a new condo in the Langley, contact us and we will connect you to the right person who can provide you the detailed information on the development(s) you’re interested in and help you in deciding & buying your dream condo in Langley.