langley DETACHED - NOVEMBER 2 0 2 4
SALES TO LISTINGS RATIO 13% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 3% VS 2023
▲ 2% VS 2023
▲ 17% VS 2023
▲ 48% VS 2023
There were 600 detached listings in Langley in November, 7% below October and 17% higher than November 2023. November detached home sales decreased by 21% month-over-month, to 77, and were 48% above November 2023. The sales-to-listing ratio for detached in Langley, at 13%, reflected a balanced market. The detached median price in November was $1,600,000, a 10% increase from October and 2% above November 2023. The average sold price was $1,750,705, 3% above last month and up 3% to November 2023.
THIS MONTH No. $1,750,705 $1,600,000 13% 77 600
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,701,720 $1,566,125 10% 52 511
26% 48% 17%
$1,703,179 $1,460,000 15% 97 644
3% 10% -15% -21% -7%
3% 2%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
660
700
616
689
665
644
555
600
511
1.82
1.80
1.76
1.60
458
1.53
1.51
410
386
358
142
97
92
91
87
51
118
77
103
52
91
86
83
$1.60M
$1.57M
$1.55M $1.62M $1.55M $1.59M $1.60M $1.55M $1.56M $1.60M $1.59M
$1.46M
$1.33M
23-Nov
24-Oct
24-Nov
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
150
100
48%
33%
50
19%
15%
11%
10%
5%
5%
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
12 4 33%
25 12 48%
101 19 19%
158 23 15%
80 8 10%
66 7 11%
61 3 5%
35 0 n/a
22 1 5%
40 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 December 9, 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 ●
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