Presales in Langley: Why They’re Selling Below Resale and Are the Best Buying Opportunity Right Now

If you’ve been keeping an eye on the Langley real estate market, you might have noticed something unusual: presale condos and townhomes are being offered at prices lower than comparable resale units. It’s a rare window of opportunity for buyers—and if you’re wondering why this is happening and whether it’s too good to be true, let’s break it down together.

What Are Presales?

Presales are homes that are sold by developers before they’re built, usually during the early stages of construction. Buyers secure a unit by paying a deposit, with the balance due upon completion—often a year or two down the road. It’s a little like reserving your seat at a concert before the venue is even built!

Langley’s Market: What’s Different Now?

Langley has long been a favorite for families and investors alike, thanks to its blend of urban amenities and suburban charm. But 2024 and 2025 have brought unique market conditions: higher interest rates, cautious buyers, and a surge of new developments coming to market at the same time. This has created a more competitive environment for developers looking to sell out their projects quickly.

Presale Prices vs. Resale: The Surprising Gap

Right now, some Langley presales are being offered at prices 5-10% (or more) below what similar homes are fetching on the resale market. For example, if a two-bedroom resale condo is listed at $650,000, you might find a comparable presale unit for $590,000. This is a significant shift from previous years, when presales often commanded a premium for their “brand new” status.

Why Are Developers Pricing Below Resale?

It comes down to urgency and competition. Developers need to meet pre-sale targets to secure construction financing. With more projects launching and buyers hesitating due to economic uncertainty, builders are offering attractive pricing and incentives to get contracts signed quickly. Think of it as a “developer’s sale”—but instead of last season’s fashion, you’re getting tomorrow’s home at today’s discount.

Benefits of Buying Presale

• Lower Upfront Costs: Typically, you only need a 10-20% deposit, with the rest due at completion.
• Potential for Appreciation: If the market rebounds, your home could be worth more by the time you move in.
• Customization: Choose your finishes, colors, and sometimes even floor plans.
• New Home Warranty: Enjoy peace of mind with coverage for defects and repairs.

Risks and Considerations

• Market Fluctuations: If prices drop further, your unit’s value could be less than what you paid at completion.
• Delays: Construction timelines can shift, so flexibility is key.
• Mortgage Qualification: You’ll need to qualify for a mortgage at completion, and rates may change.

Tips for Presale Buyers

• Work with a local real estate agent who knows the Langley presale landscape.
• Read the developer’s disclosure statement carefully.
• Ask about assignment rights if you might want to sell before completion.
• Plan your finances so you’re ready for deposit payments and closing costs.

The Bottom Line

Presales in Langley are offering a rare chance to buy below today’s market value. For savvy buyers with a bit of patience and flexibility, this could be the best opportunity we’ve seen in years. Like all investments, there are risks—but with the right guidance, you might just find your dream home at a dream price.