langley
CONDO MAY
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 1.8 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
1.8 % UP
BALANCED 13 %
38 % DOWN
5 % UP
14 % UP
The number of condo listings in Langley, at 376, increased 1.9% month-over-month and rose 14% vs last year. May’s condo sales, at 50, were 56% above last month but 38% lower vs this time last year. The sales-to-listings ratio jumped to 13% in May, as Langley’s condo segment transitioned to a balanced market. The condo benchmark price in May was $402,600, relatively unchanged from April and 1.8% above May 2019. The average sold price was $398,200 (a 5% increase- from April) with an average PSF sales price of $464 (4% below April).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 369
% Change
No. 330
% Change
TOTAL LISTINGS
376
1.9% 56% 53%
14% -38% -46% 1.8%
TOTAL SALES
50
32 9%
81
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
13%
25%
$402,600 $403,100 $398,200 $378,381
-0.1% $395,500 5% $378,657
5%
$464
$485
-4%
$456
1.8%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$395,500 $385,300 $377,600 $378,300 $386,300 $402,900 $402,600
376
351
330
327
304
291
290
81
74
70
65
56
50
45
LANGLEY
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
1
3+ bdrms
BUYER'S MARKET
31
41
2 bdrms
252
8
<2 bdrms
. . . . 0 0 0 0 QD QD QD QD QD
93
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 June 4, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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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