the rennie review - July 2021

langley CONDO-JUNE 2021

SALESTO LISTINGSRATIO 46% SELLER'SMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 17% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 20% VS2020

▲ 19% VS2020

▼ 26% VS2020

▲ 61% VS2020

Therewere318condolistingsinLangleyinJune,6% belowMayand26%lowerthanJune2020.

Junecondosalesdecreasedby15%month-over-month, to145,andwere61%aboveJune2020.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No. 50% 170 337

%Change

Thesales-to-listingratioforcondosinLangley,at46%, reflectedaseler'smarket.

TOTALLISTINGS TOTALSALES

46% 145 318

$467 $414,181 $395,000 21% 90 427

17% 20% 19% 116% 61% -26%

0.7% 2% -0.4% -10% -15% -6%

ThecondomedianpriceinJunewas$470,000,a0.4% decreasefromMayand19%aboveJune2020. Theaveragesoldpricewas$495,152,2.0%abovelast month;theaveragePSFsalepricewas$547,up0.7%to lastmonth.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$547 $495,152 $470,000

$543 $485,446 $472,000

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2020 ● JUN 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

427

396

427

425

417

352

337

327

301

301

318

196 296

271

172

170

123

145

11

147

90

13

102

101

97

97

$479K

$472K

$470K

$463K

$455K

$429K

$420K

$410K

$405K

$406K

$398K

$398K

$395K

LANGLEY

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

200

100%+

4+bdrms

150

68%

13

3bdrms

100

51%

62

50%

92

50

2bdrms

20%

173

0

40

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

44 30 68%

183 94 51%

82 16 20%

6 3 50%

1 2 200%

2 0 n/a

83

Copyright©July5,2021reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJuly5,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 25 ●

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