langley CONDO - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 39% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 14% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2023
▲ 7% VS 2023
▲ 5% VS 2023
▲ 87% VS 2023
There were 262 condo listings in Langley in February, 8% above January and 5% higher than February 2023. February condo sales increased by 54% month-over-month, to 103, and were 87% above February 2023. The sales-to-listing ratio for condos in Langley, at 39%, re&ected a sellers' market. The condo median price in February was $580,000, a 1.8% increase from January and 7% above February 2023. The average sold price was $588,045, 2% above last month; the average PSF sale price was $700, down 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
103 262
$614 $566,657 $540,000 22% 55 250
14% 4% 7% 79% 87% 5%
$730 $576,131 $570,000 28% 67 243
-4% 2% 1.8% 43% 54% 8%
$700 $588,045 $580,000 39%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2023 ● FEB 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
261
286
286
262
279
243
250
242
235
222
220
220
219
136
131
131
100
103
73
106
104
85
74
67
63
55
$597K
$580K
$568K
$570K
$570K
$560K
$556K
$550K
$543K
$549K
$545K
$540K
$529K
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
140
120
4+ bdrms
100
80
8
3 bdrms
23
50%
47%
60
33%
33%
40
70
23%
2 bdrms
144
20
0
25
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
<2 bdrms
S-L RATIO SALES INVENTORY
2 1 50%
130 61 47%
113 37 33%
13 3 23%
3 1 33%
1 0 n/a
95
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. 25 ●
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