the rennie review | September 2023

langley TOWNHOME-AUGUST 2023

SALES TO LISTINGSRATIO 57% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 7% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 10% VS 2022

▲ 7% VS 2022

▼ 35% VS 2022

▲ 16% VS 2022

Therewere138 townhom elistingsin Langleyin August, 8% below Julyand 35% lowerthan August2022. Augusttownhom esalesdecreased by7% m onth-over-m onth,to79,and were16% aboveAugust 2022. Thesales-to-listing ratio fortow nhom esin Langley,at 57% ,reflected aselers'm arket. Thetownhom em edian pricein Augustwas$845,000,a 0.9% decreasefrom Julyand 7% aboveAugust2022. Theaveragesold pricewas$868,273,1.1% abovelast m onth;theaveragePSF salepricewas$565,down 2% to lastm onth.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

$565 $868,273 $845,000 57% 79 138

$530 $786,760 $790,000 32% 68 212

7% 10% 7% 78% 16% -35%

$577 $858,833 $852,500 57% 85 150

-7% -8%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

-2% 1.1% -0.9% 1%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 202 ● AUG 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

212

194

155

150

166

132 131

138

17

13

108

104

19

108

102

96

95

79

85

68

53

38

58

51

37

33

$883K $879K $853K $845K

$810K $841K

$790K $780K $770K $800K $738K $777K $780K

LANGLEY

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

70

9

100%+

60

4+ bdrms

93%

43

50

46

40

60%

58%

3 bdrms

63

30

24

20

24%

2 bdrms

14%

32

10

0

<2 bdrms

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

S-L RATIO SALES INVENTORY

5 3 60%

30 28 93%

66 38 58%

29 7 24%

7 1 14%

1 2 200%

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