langley CONDO - NOVEMBER 2 0 2 4
SALES TO LISTINGS RATIO 21% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 1.1% VS 2023
▲ 6% VS 2023
▲ 44% VS 2023
▲ 35% VS 2023
There were 412 condo listings in Langley in November, 7% below October and 44% higher than November 2023. November condo sales decreased by 15% month-over-month, to 85, and were 35% above November 2023. The sales-to-listing ratio for condos in Langley, at 21%, reflected a balanced market. The condo median price in November was $575,000, a 5% increase from October and 6% above November 2023. The average sold price was $587,386, 1.3% above last month; the average PSF sale price was $668, up 0.0% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No. 100 445
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$668 $587,386 $575,000 21% 85 412
$689 $580,955 $545,000 22% 63 286
-3% 1.1% 6% -6% 35% 44%
0% 1.3% 5% -8% -15% -7%
$667 $579,642 $550,000 22%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● NOV 2023 ● NOV 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
458
445
385
412
381
404
341
354
286
243
286
262
219
105
103
104
100
73
85
100
98
96
63
86
86
67
$587K
$580K
$580K
$570K
$575K
$575K
$575K
$567K
$560K
$556K
$552K
$550K
$545K
LANGLEY
FVREB
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● S-L RATIO
140
120
4+ bdrms
2
100
6
80
3 bdrms
42
60
26%
25% 27%
40
22%
55
2 bdrms
14%
243
20
4%
0
24
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
8 2 25%
67 18 27%
136 30 22%
91 24 26%
72 10 14%
26 1 4%
6 0 n/a
6 0 n/a
125
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 December 9, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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. 25 ●
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