langley TOWNHOME - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 42% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 9% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 12% VS 2023
▲ 9% VS 2023
▲ 35% VS 2023
▲ 10% VS 2023
There were 153 townhome listings in Langley in February, 16% above January and 35% higher than February 2023. February townhome sales increased by 10% month-over-month, to 64, and were 10% above February 2023. The sales-to-listing ratio for townhomes in Langley, at 42%, re&ected a sellers' market. The townhome median price in February was $852,500, a 1.8% decrease from January and 9% above February 2023. The average sold price was $892,163, 2.0% above last month; the average PSF sale price was $577, up 4% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$577 $892,163 $852,500 42% 64 153
$529 $795,253 $780,000 51% 58 113
9% 12% 9% -19% 10% 35%
$555 $874,853 $868,000 44% 58 132
10% 16%
4% 2% -1.8% -5%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2023 ● FEB 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
150
145
153
154
132
145
138
132
131
108
113
104
122
108
102
79
96
95
85
59
58
64
58
53
46
38
$883K
$879K
$871K
$876K
$868K
$865K
$853K
$845K
$845K
$853K
$841K
$810K
$780K
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
70
13
4+ bdrms
60
57
50
40
59%
40
3 bdrms
65
45%
43%
30
11
20
2 bdrms
17%
30
10
0
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
1
S-L RATIO SALES INVENTORY
4 0 n/a
29 13 45%
69 41 59%
42 7 17%
7 3 43%
1 0 n/a
1 0 n/a
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. 24 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online