the rennie review - January 2021

langley

CONDO - DECEMBER 2020

AVERAGE PRICE

AVERAGE PSF PRICE 9 % UP

BENCHMARK PRICE 4 % UP

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

40 %

0.2 % UP

9 % UP

80 % UP

The number of condo listings in Langley, at 254, decreased 30% month-over-month but rose 9% vs last year. December’s condo sales, at 101, were 20% below last month but 80% higher vs this time last year. The sales-to-listings ratio increased to 40% in December, as Langley’s condo segment remained a seller’s market. The condo benchmark price in December was $400,300, up 0.6% from November and 4% above December 2019. The average sold price was $413,477 (a 1.0% decrease from November) with an average PSF sales price of $480 (6% above November).

VS 2019

VS 2019

VS 2019

VS 2019

VS 2019

SELLER’S

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 364 127 35%

% Change

No. 232

% Change

TOTAL LISTINGS

254 101 40%

-30% -20% 14%

9%

TOTAL SALES

56

80% 65%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

24%

$400,300 $398,000 $413,477 $417,645

0.6% $383,500 -1.0% $412,747

4%

0.2%

$480

$454

6%

$440

9%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

SALES

TOTAL INVENTORY

BENCHMARK PRICE

$383,500 $392,400 $403,100 $398,700 $400,900 $397,500 $400,300

443

434

423

374

310

254

232

121

101

100

99

73

56

32

LANGLEY

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

SALES

TOTAL INVENTORY

S-L RATIO

SALES TOTAL INVENTORY



SELLER'S MARKET

  





BALANCED

2



3+ bdrms

BUYER'S MARKET

46







73



2 bdrms

160







26



<2 bdrms

. . . . 0 0 0 0    QD QD QD QD QD                

48

S-L RATIO SALES INVENTORY

Copyright © 2020 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 January 6, 2021. 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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