langley CONDO - MARCH 2 0 2 4
SALES TO LISTINGS RATIO 35% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 5% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 5% VS 2023
▲ 9% VS 2023
▲ 22% VS 2023
▼ 24% VS 2023
There were 286 condo listings in Langley in March, 9% above February and 22% higher than March 2023.
March condo sales decreased by 3% month-over-month, to 100, and were 24% below March 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 131 235
% Change
No. 103 262
% Change
The sales-to-listing ratio for condos in Langley, at 35%, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
100 286
-37% -24% 22%
-4% -0.1% -0.9% -11% -3% 9%
The condo median price in March was $575,000, a 0.9% decrease from February and 9% above March 2023. The average sold price was $587,588, 0.1% below last month; the average PSF sale price was $673, down 4% to last month.
$673 $587,588 $575,000 35%
$641 $557,051 $529,000 56%
$700 $588,045 $580,000 39%
5% 5% 9%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAR 2023 ● MAR 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
286
261
286 286
279
243
262
235
242
222
220
220
219
136
131
131
103
100
100
73
106
104
85
74
67
63
$597K
$580K
$575K
$568K
$570K
$570K
$560K
$556K
$550K
$543K
$549K
$545K
$529K
LANGLEY
FVREB
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● S-L RATIO
140
4+ bdrms
120
100
4
80
3 bdrms
47%
31
60
26% 23% 25%
40
67
2 bdrms
153
20
0
29
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
<2 bdrms
S-L RATIO SALES INVENTORY
131 61 47%
137 35 26%
13 3 23%
4 1 25%
1 0 n/a
102
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. 25 ●
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