langley DETACHED - AUGUST 2 0 2 4
SALES TO LISTINGS RATIO 14% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 4% VS 2023
▲ 2% VS 2023
▲ 36% VS 2023
▼ 5% VS 2023
There were 665 detached listings in Langley in August, 3% below July and 36% higher than August 2023. August detached home sales increased by 2% month-over-month, to 91, and were 5% below August 2023. The sales-to-listing ratio for detached in Langley, at 14%, reflected a balanced market.
THIS MONTH No. $1,834,816 $1,600,000 14% 91 665
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,758,285 $1,567,500 20% 96 489
4% 2% -30% -5% 36%
$1,759,940 $1,575,000 13% 89 689
6% 2% -3%
The detached median price in August was $1,600,000, a 1.6% increase from July and 2% above August 2023.
The average sold price was $1,834,816, 4% above last month and up 4% to August 2023.
4% 1.6%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
665
616
689
660
555
542
541
511
1.90
1.86
1.80
489
458
410
1.54
386
1.51
1.49
358
142
93
87
68
96
52
51
91
118
103
91
89
82
$1.57M $1.57M $1.59M $1.57M
$1.55M $1.63M $1.55M $1.59M $1.60M $1.55M $1.58M $1.60M
$1.33M
23-Aug
24-Jul
24-Aug
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
200
150
100
25%
24%
21%
20%
50
14%
7%
6%
4%
2%
0
<$1M
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
S-L RATIO SALES INVENTORY
12 3 25%
33 8 24%
105 22 21%
182 36 20%
88 12 14%
68 4 6%
73 3 4%
30 2 7%
30 0 n/a
44 1 2%
Copyright © 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 9, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 23 ●
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