the vancouver rennie review | August 2024

langley DETACHED - JULY 2 0 2 4

SALES TO LISTINGS RATIO 13% BALANCED MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 0.3% VS 2023

▲ 47% VS 2023

▼ 3% VS 2023

▼ 7% VS 2023

There were 689 detached listings in Langley in July, 4% above June and 47% higher than July 2023.

July detached home sales decreased by 14% month-over-month, to 89, and were 7% below July 2023.

THIS MONTH No. $1,759,940 $1,575,000 13% 89 689

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No. 103 660

% Change

The sales-to-listing ratio for detached in Langley, at 13%, reflected a balanced market.

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE

$1,816,062 $1,570,000 21% 96 468

-3% 0.3% -37% -7% 47%

1.8% 1.6% -17% -14% 4%

The detached median price in July was $1,575,000, a 1.6% increase from June and 0.3% above July 2023.

$1,728,496 $1,550,000 16%

The average sold price was $1,759,940, 1.8% above last month and down 3% to July 2023.

▶ RATIO OF MEDIAN PRICES

▶ RECENT TRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

689

616

660

555

542

541

511

1.84

1.80

1.78

468

489

458

1.54

410

1.49

386

1.43

358

142

96

93

87

68

96

52

51

89

118

103

91

82

$1.57M $1.57M $1.57M $1.59M $1.57M

$1.55M $1.63M $1.55M $1.59M $1.60M $1.55M $1.58M

$1.33M

23-Jul

24-Jun

24-Jul

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY ● S-L RATIO

150

100

29%

23%

50

19%

15%

8%

8%

3%

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

13 1 8%

28 8 29%

115 27 23%

181 34 19%

99 3 3%

68 10 15%

73 6 8%

35 0 n/a

32 0 n/a

45 0 n/a

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 August 6, 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 ●

Made with FlippingBook - professional solution for displaying marketing and sales documents online