langford TOWNHOME - JUNE 2 0 2 4
MONTHS OF INVENTORY 3.6 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 10% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 33% VS 2023
▲ 12% VS 2023
▼ 11% VS 2023
▼ 8% VS 2023
There were 68 townhome listings in Langford in June, 3% below May and 33% higher than June 2023.
June townhome sales decreased by 32% month-over-month, to 19, and were 12% above June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for townhomes in Langford, at 3.6, re&ected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
19 68
17 51
-10% -11% -8% 19% 12% 33%
28 70
-6% -10% -9% 43% -32% -3%
The townhome median price in June was $695,000, a 9% decrease from May and 8% below June 2023. The average sold price was $712,578, 10% below last month; the average PSF sale price was $452, down 6% to last month.
$452 $712,578 $695,000 3.6
$505 $801,683 $758,000 3.0
$479 $794,685 $766,000 2.5
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
67
38
68
63
63
71
70
70
69
57
51
54
52
29
49
25
28
23
19
19
23
17
10
13
13
11
9
9
9
$792K
$775K
$759K
$761K
$766K
$758K
$756K
$744K
$732K
$724K
$715K
$695K
$655K
Jun-23
May-24
Jun-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.
25
2
13.0
4+ bdrms
12
20
13
15
3 bdrms
7.0
41
5.0
10
3.7
4
2 bdrms
12
5
1.1
0
<2 bdrms
<$600K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 1 13 13.0 1 7 7.0 0 7 n/a 1 5 5.0 9 10 1.1 7 26 3.7
3
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 July 8, 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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