the rennie review - August 2021

langley CONDO-JULY 2021

SALESTO LISTINGSRATIO 45% SELLER'SMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 23% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 22% VS2020

▲ 18% VS2020

▼ 33% VS2020

▲ 14% VS2020

Therewere285condolistingsinLangleyinJuly,12% belowJuneand33%lowerthanJuly2020.

Julycondosalesdecreasedby12%month-over-month,to 127,andwere14%aboveJuly2020.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 26% 111 427

%Change

No. 45% 145 323

%Change

Thesales-to-listingratioforcondosinLangley,at45%, reflectedaseler'smarket.

TOTALLISTINGS TOTALSALES

45% 127 285

23% 22% 18% 71% 14% -33%

0.4% -1.8% 0.2% -0.7% -12% -12%

ThecondomedianpriceinJulywas$471,000,a0.2% increasefromJuneand18%aboveJuly2020. Theaveragesoldpricewas$486,398,1.8%belowlast month;theaveragePSFsalepricewas$550,down0.4% tolastmonth.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$550 $486,398 $471,000

$547 $495,152 $470,000

$446 $397,886 $398,000

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUL 2020 ● JUL 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

427

396

425

417

352

342

332

323

301

302

285

196 300

271

172

170

123

127

147

145

11

13

102

101 97

97

$479K

$472K

$470K

$471K

$463K

$455K

$429K

$420K

$410K

$405K

$406K

$398K

$398K

LANGLEY

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

150

4+bdrms

2

70%

100

10

57%

3bdrms

61

50

77

2bdrms

157

14%

0

40

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

37 26 70%

155 88 57%

78 11 14%

12 0 n/a

0 2 n/a

1 0 n/a

2 0 n/a

65

Copyright©August9,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofAugust9,2021.AldatafromRealEstateBoardofGreaterVancouver andFraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.reniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakesteps astherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 25 ●

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