The 7 Best Real Estate Buying Opportunities I See in Langley & South Surrey Right Now

If you’ve been waiting for a better opportunity to buy real estate in Langley or South Surrey, this is one of the more interesting markets we’ve seen in years.

Over the last month, I’ve been looking at everything from roughly $400,000 condos to multi-million-dollar farms across Langley, South Surrey, Campbell Valley, Bradner and the surrounding Fraser Valley.

There are definitely opportunities out there.

But I wouldn’t say everything is a deal.

Buyers are hesitant, listings are sitting longer and people are taking their time comparing properties before making an offer. At the same time, especially with detached homes in Langley, I’m finding that a lot of the available inventory seems to have one major compromise.

It backs onto a busy road. The layout doesn’t work. There’s no ensuite. There’s no realistic way to add a suite. Or the home simply needs too much work for the price.

That’s why I don’t think the best buying opportunities right now are necessarily the cheapest listings.

The opportunities are in properties where the price, location, usability and long-term value actually line up.

Here are the seven areas of the Langley and South Surrey real estate market I would be watching most closely right now.

1. Farms and Acreage in Langley and Abbotsford

This may be the biggest buying opportunity I’m seeing in the Fraser Valley right now.

There have been some substantial price adjustments on Langley farms and acreages, particularly around Campbell Valley and South Langley, along with Bradner and other rural parts of Abbotsford.

For buyers looking for approximately 5 to 10 acres, I’m seeing opportunities in roughly the $1.2 million to $2.2 million range that would have carried much higher expectations a few years ago.

Some properties that were previously positioned closer to $2.6 million to $3 million have come down substantially.

One current Campbell Valley acreage gives a good example of how much the market has changed. The property sold for $4 million in 2022 and is currently listed at approximately $3.2 million.

That doesn’t automatically make every acreage a good buy.

With rural property, buyers need to look beyond the house and carefully consider usable acreage, ALR restrictions, zoning, drainage, wells and septic systems, barns and outbuildings, access, soil conditions and future building potential.

But if owning land has always been the goal, I think this is a market worth revisiting.

You can also browse the broader selection of farms and acreages for sale.

2. Detached Homes in Murrayville Under $1.5 Million

Murrayville remains one of Langley’s most established family neighbourhoods, and there are now detached opportunities appearing below approximately $1.5 million.

That is a price range I think move-up buyers should be paying attention to.

The important distinction, however, is that having a lot of listings does not necessarily mean we have a lot of good listings.

Many of the detached homes I’ve been through recently have one noticeable compromise.

It may be a busy road, awkward floor plan, lack of an ensuite, poor suite potential, an unusual lot or a significant amount of updating required.

Because buyers are less rushed today, they don’t have to overlook those issues the way they often did during the peak market.

My advice right now is to be patient.

When a properly located and functional Murrayville home comes up around the $1.3 million to $1.5 million range, that can be a much better opportunity than buying something simply because the asking price looks inexpensive.

You can see current Langley homes for sale.

3. Brookswood Detached Homes and Large Lots

Brookswood real estate is another area I would watch closely.

From what I’m seeing, Brookswood has been relatively steady compared with some other parts of the market, but opportunities are still appearing.

Older homes and properties where a large portion of the value is in the land can be found around the $1 million to $1.1 million range, while some detached homes are appearing around or below the $1.3 million level.

Brookswood continues to attract buyers because of its larger lots, mature trees, established neighbourhoods and long-term land value.

One current Brookswood property, for example, is listed around $1.39 million after previously selling for $1.65 million in April 2022.

That is roughly a 16% difference between the previous sale price and today’s asking price.

That does not mean Brookswood as a whole has fallen 16%, but it is a good illustration of how different today’s buying environment can be compared with the 2022 peak.

For buyers willing to renovate, hold long term or potentially rebuild in the future, I still like Brookswood.

See the latest Brookswood homes for sale here.

4. Walnut Grove Homes With Suites Under $1.2 Million

Walnut Grove is interesting because it appears to be holding its value better than several other parts of Langley.

To me, that shows there is still strong underlying demand for the neighbourhood.

At the same time, buyers can occasionally find detached homes with suite potential, or existing suites, around or below the $1.2 million range.

That can make a major difference for somebody trying to move from a condo or townhome into a detached house while keeping monthly ownership costs manageable.

Walnut Grove continues to benefit from established schools, shopping, recreation, Highway 1 access and a limited supply of comparable detached neighbourhoods.

I wouldn’t describe Walnut Grove as a distressed market.

In fact, its relative strength is one of the reasons I like it.

If you can find the right property at the right price in an area that continues to hold demand, that can be a better long-term purchase than simply chasing the neighbourhood with the largest price reduction.

5. Grandview Townhomes in South Surrey

If you’re looking for a townhome in South Surrey, Grandview is one of the clearest areas where buyers currently have more leverage.

There is a lot of inventory, listings are taking longer to sell and buyers have time to compare several similar properties before deciding what they actually want.

That changes the buying process considerably.

Instead of rushing into the first available townhome, buyers can compare location within the complex, road exposure, parking, floor plan, yard space, strata fees, upgrades and overall condition.

One current Grandview townhouse is listed at approximately $690,000 after selling for around $782,000 in 2022.

That particular property has circumstances that make it different from a standard resale, so I wouldn’t use that example as a benchmark for the entire neighbourhood.

But the broader point remains: buyers have considerably more selection and negotiating power in the South Surrey townhome market than they did during the peak.

A few years ago, buyers were often asking:

“How do I win this townhome?”

Today, they’re much more likely to ask:

“Which one do I actually like best?”

6. Willoughby Townhomes

Willoughby real estate is another part of Langley where buyers have considerably more choice.

There are many relatively similar townhouse developments competing for the same group of buyers.

That creates leverage.

If one unit backs onto a busy road, has an awkward layout or is poorly located within the complex, buyers don’t necessarily have to accept that compromise.

There may be another option a few blocks away.

This is one of the biggest differences between today’s market and the peak.

Several years ago, buyers often had to decide how aggressive they were willing to be just to secure a property.

Today, you can actually compare the available inventory, review recent sales and decide whether the home really deserves its asking price.

You can browse the latest Willoughby homes and townhomes for sale here.

7. Condos Around $400,000 to $600,000

Condos may offer one of the most accessible opportunities in the current market.

Depending on the building and neighbourhood, I’m seeing many condo values approximately 15% to 20% below where comparable properties were trading around the peak.

To put that into perspective, a 20% change on a $500,000 property is $100,000.

That is significant for a first-time buyer, downsizer or investor.

But I think the bigger advantage today is the buying process itself.

Buyers generally have more time to review strata documents, compare buildings, look at recent comparable sales, understand upcoming strata expenses, negotiate price and terms, and complete proper due diligence.

During the peak market, buyers were often making major decisions extremely quickly.

Today, you can usually slow the process down.

For buyers looking at the lower end of the market, you can browse current Langley condos under $499,000 or use my full MLS property search to compare condos across Langley, South Surrey and the Fraser Valley.

What I’m Seeing From Buyers Right Now

The biggest trend I’m seeing right now is hesitation.

Buyers are still looking.

They’re booking showings, watching new listings and comparing properties.

But they are much more selective.

They are not automatically writing an offer simply because they like a home.

They are looking at what else is available, what recently sold, how long the property has been listed and whether the asking price really makes sense.

That is one of the main reasons listings are taking longer to sell.

What Today’s Market Is Telling Sellers

There is also an important distinction sellers need to understand between getting showings and getting offers.

If your property is receiving regular showings every week but nobody is writing an offer, there is a good chance buyers are telling you that the price doesn’t quite match the product.

Your price may be attractive enough to get buyers through the door, but once they compare the home with the alternatives, they are choosing something else.

If you’re receiving virtually no showings, and similar properties are also receiving very little activity, that can be different.

There may simply be a very small number of active buyers looking for that type of property at the moment.

Unique properties are different again.

If there are very few comparable sales and the buyer pool is naturally small, constantly reducing the price doesn’t always create a buyer.

Sometimes the correct strategy is to hold your position and wait for the right person to come along.

So, Is Now a Good Time to Buy in Langley or South Surrey?

For the right buyer, I think it can be.

But I wouldn’t recommend buying something simply because it’s cheaper than it was in 2022.

The better question is:

Is this a good property at a good price?

Those are two very different things.

Right now, buyers have something they haven’t consistently had for several years:

Time and negotiating power.

You can look at multiple properties.

You can walk away from bad layouts.

You can avoid busy roads if they bother you.

You can think about suite potential and future resale value.

And you can wait for the right property instead of feeling pressured to buy the first available one.

The opportunities are there.

You just need to know where to look.

Looking for the Best Value in Langley or South Surrey?

If you’re considering buying and want to know where I’m personally seeing the strongest value, feel free to reach out.

I’m constantly reviewing new listings, recent sales, price reductions and buyer activity across Langley, South Surrey, Brookswood, Willoughby, Murrayville, Walnut Grove, Campbell Valley and the Fraser Valley acreage market.

Sometimes the best opportunity isn’t the property with the biggest price reduction.

It’s the property where the price, location, usability and long-term value all make sense.

Jared Gibbons
Royal LePage Little Oak Realty

604-928-1361