langley CONDO - APRIL 2 0 2 4
SALES TO LISTINGS RATIO 30% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 6% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 3% VS 2023
▲ 3% VS 2023
▲ 54% VS 2023
▼ 3% VS 2023
There were 342 condo listings in Langley in April, 20% above March and 54% higher than April 2023.
April condo sales increased by 3% month-over-month, to 103, and were 3% below April 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 106 222
% Change
No. 100 286
% Change
The sales-to-listing ratio for condos in Langley, at 30%, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
103 342
6% 3% 3% -37% -3% 54%
4% 1.6% 0% -14% 3% 20%
The condo median price in April was $575,000, a 0% change from March and 3% above April 2023. The average sold price was $596,698, 1.6% above last month; the average PSF sale price was $703, up 4% to last month.
$703 $596,698 $575,000 30%
$663 $579,643 $556,000 48%
$673 $587,588 $575,000 35%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● APR 2023 ● APR 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
342
286
286
279
243
286
242
261
262
222
220
220
219
136
131
104
100
106
103
73
104
100
85
74
67
63
$597K
$580K
$575K
$575K
$568K
$570K
$570K
$560K
$556K
$550K
$543K
$549K
$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
120
4+ bdrms
100
67%
80
9
3 bdrms
50%
49%
31
60
38%
33%
25%
40
58
17% 16%
2 bdrms
208
20
0
36
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
3 1 33%
64 24 38%
83 41 49%
125 21 17%
50 8 16%
10 5 50%
3 2 67%
4 1 25%
103
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. 25 ●
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