langford CONDO - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 5.9 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.1% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 39% VS 2022
▲ 20% VS 2022
▼ 11% VS 2022
▼ 4% VS 2022
There were 107 condo listings in Langford in September, 20% above August and 39% higher than September 2022. September condo sales decreased by 31% month-over-month, to 18, and were 20% above September 2022. The months of inventory for condos in Langford, at 5.9, reflected a balanced market. The condo median price in September was $523,700, a 1.7% increase from August and 4% below September 2022. The average sold price was $497,456, 9% below last month; the average PSF sale price was $624, down 2% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$624 $497,456 $523,700 5.9 18 107
15 77
16% 20% 39%
26 89
-2% -9% 1.7% 74% -31% 20%
$625 $559,306 $545,000 513%
$639 $545,287 $514,875 3.4
-0.1% -11% -4%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
23
107
22
91
90
84
82
76
89
84
77
59
53
64
16
39
33
26
39
20
18
18
15
19
16
16
15
14
14
$585K
$570K
$560K
$550K
$545K
$535K
$525K
$524K
$515K
$489K
$488K
$485K
$477K
Sep-22
Aug-23
Sep-23
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET <5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
50
13.0
4+ bdrms
40
30
3 bdrms
9
20
4.2
9
2 bdrms
10
2.0
2.0
68
0
9
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 3 39 13.0 0 8 n/a 0 2 n/a 1 2 2.0 1 2 2.0 13 54 4.2
<2 bdrms
30
Copyright © 2023 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 13, 2023. All data from Victoria Real Estate Board & 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. 26 ●
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