langley TOWNHOME - MAY 2 0 2 4
SALES TO LISTINGS RATIO 35% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.1% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 91% VS 2023
▼ 2% VS 2023
▼ 0.5% VS 2023
▼ 9% VS 2023
There were 252 townhome listings in Langley in May, 29% above April and 91% higher than May 2023.
May townhome sales decreased by 20% month-over-month, to 87, and were 9% below May 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No. 109 196
% Change
The sales-to-listing ratio for townhomes in Langley, at 35%, re%ected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$562 $884,495 $878,000 35% 87 252
$562 $904,865 $882,500 73% 96 132
-0.1% -2% -0.5% -53% -9% 91%
-3% -3% -0.2% -38% -20% 29%
The townhome median price in May was $878,000, a 0.2% decrease from April and 0.5% below May 2023. The average sold price was $884,495, 3% below last month; the average PSF sale price was $562, down 3% to last month.
$578 $913,600 $880,000 56%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAY 2023 ● MAY 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
252
196
154
154
150
145
131
156
132
145
109
79 138
132
122
90
96
108
87
59
58
85
64
53
46
38
$890K
$883K
$879K
$876K
$880K
$878K
$865K
$871K
$868K
$853K
$853K
$845K
$845K
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
18
4+ bdrms
100
74
80
48
3 bdrms
50%
60
125
44%
29%
40
21
24% 25%
2 bdrms
53
20
0
<2 bdrms
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
S-L RATIO SALES INVENTORY
8 4 50%
63 18 29%
114 50 44%
51 12 24%
12 3 25%
3 0 n/a
1 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 June 10, 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. 24 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online