langley CONDO - AUGUST 2 0 2 4
SALES TO LISTINGS RATIO 21% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.6% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 54% VS 2023
▼ 3% VS 2023
▼ 2.0% VS 2023
▼ 14% VS 2023
There were 403 condo listings in Langley in August, 5% above July and 54% higher than August 2023. August condo sales decreased by 10% month-over-month, to 86, and were 14% below August 2023. The sales-to-listing ratio for condos in Langley, at 21%, reflected a sellers' market. The condo median price in August was $556,250, a 1.8% decrease from July and 2.0% below August 2023. The average sold price was $579,606, 1.0% below last month; the average PSF sale price was $672, down 1.9% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 100 261
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$672 $579,606 $556,250 21% 86 403
-1.6% -3% -2% -44% -14% 54%
$684 $585,294 $566,500 25% 96 385
-1.9% -1% -1.8% -14% -10% 5%
$683 $599,676 $567,500 38%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● AUG 2023 ● AUG 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
385
381
403
341
354
286
286
279
243
261
286
262
219
105
104
103
96
100
73
86
100
98
85
74
67
63
$587K
$580K
$580K
$570K
$570K
$575K
$575K
$568K
$567K
$560K
$556K
$549K
$545K
LANGLEY
FVREB
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● S-L RATIO
140
120
4+ bdrms
3
100
60%
5
80
3 bdrms
50%
36
60
32%
40
22%
55
19%
2 bdrms
12%
246
20
5%
0
26
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
5 3 60%
73 23 32%
134 30 22%
106 20 19%
49 6 12%
20 1 5%
10 0 n/a
6 3 50%
118
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. 25 ●
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