the rennie review - July 2020

langley

CONDO  JUNE 

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 1.7 % UP

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

8 % UP

68 % UP

SELLER’S 23 %

1.3 % DOWN

34 % UP

The number of condo listings in Langley, at 426, increased 10% month-over-month and rose 34% vs last year. June’s condo sales, at 99, were 98% above last month and 68% higher than the same month last year. The sales-to-listings ratio jumped to 23% in June, as Langley’s condo segment transitioned to a seller’s market. The condo benchmark price in June was $398,700, a 1% decline fromMay but 1.7% above June 2019. The average sold price was $411,368 (a 3% increase- fromMay) with an average PSF sales price of $477 (also 3% above May).

VS 

VS 

VS 

VS 

VS 

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 387

% Change

No. 317

% Change

TOTAL LISTINGS

426

10% 98% 80%

34% 68% 25% 1.7% -1.3%

TOTAL SALES

99

50

59

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

23%

13%

19%

$398,700 $402,600 $411,368 $398,200

-1.0% $392,000 3% $416,666

$477

$464

3%

$443

8%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

SALES

TOTAL INVENTORY

BENCHMARK PRICE

$392,000 $383,400 $377,700 $383,500 $392,400 $403,100 $398,700

426

376

317

309

302

293

232

99

84

73

64

59

56

32

LANGLEY

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

SALES

TOTAL INVENTORY

SL RATIO

SALES TOTAL INVENTORY



SELLER'S MARKET

  



BALANCED



7

3+ bdrms

BUYER'S MARKET

37







66

2 bdrms



277





26



<2 bdrms

. . . . 0 0 0 0    QD QD QD QD QD                

112

S-L RATIO SALES INVENTORY

Copyright © 2020 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 July 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & 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.

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