langford CONDO - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 3.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 7% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2023
▲ 3% VS 2023
▲ 63% VS 2023
▲ 100% VS 2023
There were 104 condo listings in Langford in February, 53% above January and 63% higher than February 2023. February condo sales increased by 65% month-over-month, to 28, and were 100% above February 2023. The months of inventory for condos in Langford, at 3.7, reflected a sellers' market. The condo median price in February was $499,950, a 8% decrease from January and 3% above February 2023. The average sold price was $503,861, 10% below last month; the average PSF sale price was $610, down 3% 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
$610 $503,861 $499,950 3.7 28 104
14 64
-19% 100% 63%
17 68
-3% -10% -8% -7% 65% 53%
$570 $483,907 $484,500 457%
$629 $558,606 $545,500 4.0
7% 4% 3%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
102
107
26
26
104
91
90
88
84
82
89
84
68
66
64
18
38
33
26
25
28
14
19
18
18
17
17
16
15
$585K
$565K
$554K
$550K
$546K
$535K
$525K
$524K
$515K
$500K
$489K
$490K
$485K
Feb-23
Jan-24
Feb-24
▶ 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
8.3
4+ bdrms
40
30
3 bdrms
10
3.0
20
2.5
21
2.0
2 bdrms
10
64
0
7
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 11 n/a 0 1 n/a 1 2 2.0 1 3 3.0 22 54 2.5 4 33 8.3
<2 bdrms
30
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 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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