the rennie review - May 2022

langley DETACHED-APRIL 202

SALESTO LISTINGSRATIO 31% SELLERS'MARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIANPRICE

SALES

TOTALLISTINGS

▲ 8% VS2021

▲ 18% VS2021

▼ 5% VS2021

▼ 51% VS2021

Therewere423detachedlistingsinLangleyinApril, 10%aboveMarchand5%lowerthanApril2021. Aprildetachedhomesalesdecreasedby35% month-over-month,to132,andwere51%belowApril 2021. Thesales-to-listingratiofordetachedinLangley,at31%, reflectedaselers'market.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 61% 270 444

%Change

No. 52% 202 386

%Change

TOTALLISTINGS TOTALSALES

31% 132 423

8% 18% -49% -51% -5%

-40% -35% 10%

ThedetachedmedianpriceinAprilwas$1,640,000,a3% decreasefromMarchand18%aboveApril2021.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

Theaveragesoldpricewas$1,807,243,3%belowlast monthandup8%toApril2021.

$1,861,165 $1,698,557

-3% -3%

$1,807,243 $1,640,000

$1,679,601 $1,392,500

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIANPRICE

444

423

386

435

1.90

374

294

292

1.79

1.77

273

314

248

270

1.59

223

275

1.54

1.53

202

161

142

187

168

166

152

132

123

19

12

106

92

$1.82M

$1.78M

$1.70M

$1.68M

$1.63M

$1.64M

$1.50M

$1.41M

$1.41M

$1.39M

$1.40M

$1.35M

$1.33M

Apr-21

Mar-22

Apr-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

140

100%

120

85%

100

80

52%

51%

49%

60

32%

40

18%

20

9%

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

13 11 85%

1 1 100%

23 12 52%

51 26 51%

137 44 32%

41 20 49%

39 7 18%

118 11 9%

Copyright©May5,202renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofMay5,202.AldatafromRealEstateBoardof GreaterVancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.reniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipient oftheinformationshouldtakestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained fromarennieandasociatesadvisor.Alinformationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromrenniegroupofcompanies.E.&O.E.

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