langley CONDO - JULY 2 0 2 4
SALES TO LISTINGS RATIO 25% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 1.8% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 60% VS 2023
▼ 5% VS 2023
▼ 5% VS 2023
▼ 8% VS 2023
There were 386 condo listings in Langley in July, 9% above June and 60% higher than July 2023.
July condo sales decreased by 8% month-over-month, to 96, and were 8% below July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 104 242
% Change
No. 104 354
% Change
The sales-to-listing ratio for condos in Langley, at 25%, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$684 $585,294 $566,500 25% 96 386
1.8% -5% -5% -42% -8% 60%
0.6% -0.9% -3% -15% -8% 9%
The condo median price in July was $566,500, a 3% decrease from June and 5% below July 2023. The average sold price was $585,294, 0.9% below last month; the average PSF sale price was $684, up 0.6% to last month.
$672 $613,822 $597,250 43%
$680 $590,681 $586,900 29%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUL 2023 ● JUL 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
381
386
341
354
286
286
279
243
286
242
262
261
219
105
104
103
100
104
73
96
100
98
85
74
67
63
$597K
$587K
$580K
$580K
$575K
$575K
$568K
$570K
$570K
$567K
$560K
$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
2
100
7
80
3 bdrms
35
43%
60
33%
28% 30%
24%
40
60
20%
2 bdrms
10%
229
20
0
29
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
7 3 43%
67 19 28%
131 39 30%
105 25 24%
49 5 10%
15 3 20%
6 0 n/a
6 2 33%
120
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. 25 ●
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