langley DETACHED - APRIL 2 0 2 4
SALES TO LISTINGS RATIO 21% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 4% VS 2023
▲ 77% VS 2023
▲ 9% VS 2023
▼ 0.7% VS 2023
There were 555 detached listings in Langley in April, 21% above March and 77% higher than April 2023. April detached home sales increased by 30% month-over-month, to 118, and were 9% above April 2023. The sales-to-listing ratio for detached in Langley, at 21%, reflected a sellers' market.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 108 314
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
118 555
4% -0.7% -38% 9% 77%
$1,741,115 $1,549,999 20% 91 458
30% 21%
The detached median price in April was $1,587,500, a 2% increase from March and 0.7% below April 2023.
$1,817,008 $1,587,500 21%
4% 2% 7%
$1,746,127 $1,599,450 34%
The average sold price was $1,817,008, 4% above last month and up 4% to April 2023.
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
555
511
542 541
425
489
1.90
468
458
447
1.80
410
1.74
386
358
1.55
1.53
314
1.51
190
96
92
87
118
108
127
51
96
91
82
68
52
$1.60M $1.56M $1.55M $1.57M $1.57M $1.57M $1.59M $1.57M
$1.55M $1.62M $1.55M $1.59M
$1.33M
23-Apr
24-Mar
24-Apr
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
150
61%
100
31%
27%
25%
22%
50
12%
9%
7%
0
<$1M
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
S-L RATIO SALES INVENTORY
9 2 22%
18 11 61%
95 29 31%
168 45 27%
65 16 25%
69 8 12%
57 5 9%
27 2 7%
12 0 n/a
35 0 n/a
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 May 8, 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. 23 ●
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