the rennie review - September 2022

langley CONDO -AUGUST 202

SALES TO LISTINGSRATIO 26% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 13% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 13% VS 2021

▲ 11% VS 2021

▲ 23% VS 2021

▼ 60% VS 2021

Therewere248 condolistingsin Langleyin August,6% below Julyand 23% higherthan August2021. Augustcondosalesdecreased by30% m onth-over-m onth,to64,and were60% below August 2021. Thesales-to-listing ratio forcondosin Langley,at26% , reflected aselers'm arket. Thecondom edian pricein Augustwas$554,750,a0.9% increasefrom Julyand 11% aboveAugust2021. Theaveragesold pricewas$586,441,2% abovelast m onth;theaveragePSF salepricewas$636,down 6% to lastm onth.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 79% 160 202

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

$636 $586,441 $554,750 26% 64 248

13% 13% 11% -67% -60% 23%

$673 $573,427 $550,000 34% 91 265

0.9% -25% -30% -6%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$561 $519,470 $500,000

-6% 2%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 2021 ● AUG 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

290

248

265

244

203

189

202

209

169

162

160

190

137

120

10

96

128

91

121

120

18

109

91

91

64

57

$606K $610K $615K

$589K $555K

$581K $583K $565K $550K $555K

$510K $540K

$500K

LANGLEY

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

120

4+ bdrms

100

80

3

3 bdrms

32

60

32%

40

49

23% 20%

2 bdrms

148

20

0

12

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

<2 bdrms

S-L RATIO SALES INVENTORY

9 0 n/a

126 40 32%

93 21 23%

15 3 20%

4 0 n/a

1 0 n/a

68

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