the rennie review | September 2023

langley DETACHED -AUGUST 2023

SALES TO LISTINGSRATIO 22% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 6% VS 2022

▲ 9% VS 2022

▼ 3% VS 2022

▲ 28% VS 2022

Therewere506 detached listingsin Langleyin August, 3% aboveJulyand 3% lowerthan August2022. Augustdetached hom esalesincreased by7% m onth-over-m onth,to110,and were28% aboveAugust 2022. Thesales-to-listing ratio fordetached in Langley,at22% , reflected aselers'm arket.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No. 21% 103 489

% Change

TOTALLISTINGS TOTALSALES

22% 110 506

$1,476,890 $1,350,000 17% 86 520

31% 28% -3%

3% 7% 3%

Thedetachedm edian pricein Augustwas$1,475,000,a 4% decreasefrom Julyand 9% aboveAugust2022.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

Theaveragesold pricewas$1,571,425,8% below last m onth and up 6% toAugust2022.

$1,713,960 $1,535,000

-8% -4%

$1,571,425 $1,475,000

6% 9%

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

520

489

506

461

452

431

484

464

1.80

1.75

1.71

344

340

327

1.49

321

312

1.43

1.42

199

129

88

79

10

138

86

18

103

76

70

61

56

$1.55M $1.54M $1.53M $1.54M $1.48M

$1.35M $1.38M $1.39M $1.30M $1.33M $1.32M $1.38M $1.38M

22-Aug

23-Jul 23-Aug

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

140

120

82%

78%

100

80

60

40%

29%

40

24%

15%

20

6%

5%

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

18 14 78%

5 2 40%

22 18 82%

79 23 29%

137 33 24%

62 9 15%

57 3 5%

126 8 6%

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