the rennie review - September 2022

langley DETACHED -AUGUST 202

SALES TO LISTINGSRATIO 17% BALANCEDMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 12% VS 2021

▼ 3% VS 2021

▲ 89% VS 2021

▼ 38% VS 2021

Therewere520 detached listingsin Langleyin August, 10% below Julyand 89% higherthan August2021. Augustdetached hom esalesincreased by16% m onth-over-m onth,to88,and were38% below August 2021. Thesales-to-listing ratio fordetached in Langley,at17% , reflected abalanced m arket.

THISMONTH No. $1,496,449 $1,355,000 17% 88 520

PREVIOUSYEAR

PREVIOUSMONTH

No. 52% 142 275

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

-12% -3% -67% -38% 89%

$1,675,558 $1,509,950 13% 76 577

-11% -10% 28% 16% -10%

Thedetachedm edian pricein Augustwas$1,355,000,a 10% decreasefrom Julyand 3% below August2021.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

Theaveragesold pricewas$1,496,449,11% below last m onth and down 12% toAugust2021.

$1,699,412 $1,399,950

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

514

578 577

520

1.87

1.83

386

1.72

423

1.50

1.50

294

292

273

1.42

275

223

202

168

160

10

142

166

130

123

19

88

12

105

92

81

76

$1.78M $1.82M $1.70M

$1.68M $1.63M

$1.64M $1.59M $1.53M $1.51M

$1.40M $1.41M $1.50M

$1.36M

Aug.-21

Jul.-22

Aug.-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

160

140

120

100

59%

80

55%

47%

60

30%

40

16%

12%

10%

20

2%

0

<$600K

$600-799K

$800-999K

$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M

$2.0M -2.49M

$2.5M -2.99M

$3M+

S-L RATIO SALES INVENTORY

15 7 47%

11 6 55%

29 17 59%

89 27 30%

148 15 10%

57 7 12%

44 7 16%

127 2 2%

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