langley DETACHED - JANUARY 2 0 2 4
SALES TO LISTINGS RATIO 24% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 25% VS 2023
▲ 17% VS 2023
▲ 21% VS 2023
▲ 51% VS 2023
There were 379 detached listings in Langley in January, 12% below December and 21% higher than January 2023. January detached home sales increased by 61% month-over-month, to 92, and were 51% above January 2023. The sales-to-listing ratio for detached in Langley, at 24%, reflected a sellers' market. The detached median price in January was $1,545,000, a 19% increase from December and 17% above January 2023. The average sold price was $1,688,083, 5% above last month and up 25% to January 2023.
THIS MONTH No. $1,688,083 $1,545,000 24% 92 379
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change 25% 17% 24% 51% 21%
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,354,818 $1,320,000 20% 61 312
$1,603,215 $1,298,000 13% 57 430
5% 19% 83% 61% -12%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
536
568
565
489
452
506
1.78
464
1.70
430
344
379
1.56
1.52
312
1.47
1.48
340
321
199
129
110
137
92
118
103
61
86
70
72
59
57
$1.55M $1.54M $1.53M $1.54M $1.48M $1.54M $1.57M $1.51M
$1.55M
$1.32M $1.38M $1.38M
$1.30M
23-Jan
23-Dec
24-Jan
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
100
100%
100%+
80
60
40
35%
29%
25%
21%
20
13%
2%
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
S-L RATIO SALES INVENTORY
20 5 25%
1 0 n/a
3 3 100%
14 18 129%
58 17 29%
91 32 35%
43 9 21%
47 6 13%
102 2 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 February 7, 2024. All data from Real Estate Board of Greater Vancouver and Fraser Valley & 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.
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