langley DETACHED - MARCH 2 0 2 4
SALES TO LISTINGS RATIO 20% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 8% VS 2023
▲ 9% VS 2023
▲ 43% VS 2023
▼ 22% VS 2023
There were 458 detached listings in Langley in March, 19% above February and 43% higher than March 2023. March detached home sales decreased by 1.1% month-over-month, to 91, and were 22% below March 2023. The sales-to-listing ratio for detached in Langley, at 20%, reflected a balanced market.
THIS MONTH No. $1,741,115 $1,549,999 20% 91 458
PREVIOUS MONTH
PREVIOUS YEAR
No. 116 320
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
-45% -22% 43%
$1,793,329 $1,621,500 24% 92 386
-3% -4% -17% -1.1% 19%
The detached median price in March was $1,549,999, a 4% decrease from February and 9% above March 2023.
$1,617,068 $1,422,500 36%
The average sold price was $1,741,115, 3% below last month and up 8% to March 2023.
8% 9%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
511
542 541
458
425
489
468
1.90
447
410
1.76
1.74
386
358
320
1.55
314
1.53
1.47
190
96
92
87
116
68
127
91
108
96
82
52
51
$1.60M $1.56M $1.55M $1.57M $1.57M $1.57M $1.59M $1.57M
$1.55M $1.62M $1.55M
$1.42M
$1.33M
23-Mar
24-Feb
24-Mar
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
120
100
80
53%
60
38%
27%
40
20%
13%
8%
7%
20
4%
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
8 1 13%
17 9 53%
74 28 38%
126 34 27%
55 11 20%
56 4 7%
52 2 4%
25 2 8%
13 0 n/a
32 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 April 10, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listings 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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