the rennie review - July 2021

langley DETACHED-JUNE 2021

SALESTO LISTINGSRATIO 51% SELLER'SMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 41% VS2020

▲ 32% VS2020

▼ 21% VS2020

▲ 16% VS2020

Therewere374detachedlistingsinLangleyinJune,14% belowMayand21%lowerthanJune2020. Junedetachedhomesalesdecreasedby24% month-over-month,to189,andwere16%aboveJune 2020. Thesales-to-listingratiofordetachedinLangley,at51%, reflectedaseler'smarket.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 35% 163 471

%Change

No. 57% 248 435

%Change

TOTALLISTINGS TOTALSALES

51% 189 374

41% 32% 46% 16% -21%

-1.8% -5% -11% -24% -14%

ThedetachedmedianpriceinJunewas$1,350,000,a5% decreasefromMayand32%aboveJune2020.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

Theaveragesoldpricewas$1,671,968,1.8%belowlast monthanddown41%toJune2020.

$1,703,247 $1,414,250

$1,671,968 $1,350,000

$1,183,620 $1,020,000

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIANPRICE

454

444

471

435

484

463

383

1.94

374

1.82

374

308

1.77

270

249

248

1.57

1.55

264

197

1.46

185

177

172

224 236

189

163

164

156

18

99

$1.41M

$1.39M

$1.34M $1.35M

$1.35M

$1.29M

$1.28M

$1.18M

$1.11M

$1.10M

$1.08M

$1.09M

$1.02M

Jun-20

May-21

Jun-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

120

100%+

95%

89%

100

80

55%

52%

60

35%

33%

40

18%

20

11%

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-LRATIO SALES INVENTORY

11 2 18%

3 1 33%

13 19 146%

40 38 95%

64 57 89%

62 34 55%

31 11 35%

25 13 52%

125 14 11%

Copyright©July5,2021reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJuly5,2021.AldatafromRealEstateBoardof GreaterVancouverandFraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipient oftheinformationshouldtakestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained fromarenieandasociatesadvisor.Alinformationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromrenniegroupofcompanies.E.&O.E.

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