langley DETACHED - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 24% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 12% VS 2023
▲ 14% VS 2023
▲ 27% VS 2023
▲ 41% VS 2023
There were 407 detached listings in Langley in February, 7% above January and 27% higher than February 2023. February detached home sales increased by 8% month-over-month, to 99, and were 41% above February 2023. The sales-to-listing ratio for detached in Langley, at 24%, re&ected a sellers' market.
THIS MONTH No. $1,683,669 $1,580,000 24% 99 407
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change 12% 14% 12% 41% 27%
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,504,912 $1,382,000 22% 70 321
$1,688,083 $1,545,000 24% 92 379
8% 7%
The detached median price in February was $1,580,000, a 2% increase from January and 14% above February 2023.
-0.3% 2% 0.2%
The average sold price was $1,683,669, 0.3% below last month and up 12% to February 2023.
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
536
568
565
489
452
506
1.85
464
1.78
1.77
407
430
344
379
321
340
1.52
1.47
1.44
199
129
110
92
137
99
118
70
103
86
72
59
57
$1.55M $1.54M $1.53M $1.54M $1.48M $1.54M $1.57M $1.51M
$1.55M $1.58M
$1.38M $1.38M
$1.30M
23-Feb
24-Jan
24-Feb
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
120
100%+
100
80
62%
60
36%
34%
33%
40
24%
19%
20
3%
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M
$2.0M-2.49M
$2.5M-2.99M
$3M+
S-L RATIO SALES INVENTORY
22 8 36%
0 1 n/a
3 4 133%
13 8 62%
66 22 33%
96 33 34%
42 10 24%
48 9 19%
117 4 3%
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 March 7, 2024. 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. 23 ●
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