langley CONDO - SEPTEMBER 2 0 2 4
SALES TO LISTINGS RATIO 19% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 4% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 64% VS 2023
▲ 1.2% VS 2023
▼ 3% VS 2023
▼ 3% VS 2023
There were 457 condo listings in Langley in September, 13% above August and 64% higher than September 2023. September condo sales remained the same month-over-month, at 86, and were 1.2% above September 2023. The sales-to-listing ratio for condos in Langley, at 19%, re'ected a balanced market. The condo median price in September was $551,500, a 0.9% decrease from August and 3% below September 2023. The average sold price was $567,633, 2% below last month; the average PSF sale price was $663, down 1.3% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$663 $567,633 $551,500 19% 86 457
$694 $584,509 $569,900 30% 85 279
-38% 1.2% 64%
$672 $579,606 $556,250 21% 86 403
-1.3% -2% -0.9% -12% 0% 13%
-4% -3% -3%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● SEP 2023 ● SEP 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
457
385
381
403
341
354
286
286
279
243
286
262
219
105
103
104
73
85
86
100
98
96
86
74
67
63
$587K
$580K
$580K
$570K
$570K
$575K
$575K
$567K
$560K
$556K
$549K
$552K
$545K
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
150
2 1
4+ bdrms
100
57%
8
3 bdrms
44
39%
50
48
19% 16%
17%
2 bdrms
279
9%
7%
0
29
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
7 4 57%
67 26 39%
156 29 19%
120 19 16%
56 4 7%
34 3 9%
11 0 n/a
6 1 17%
132
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 October 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. 25 ●
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