langley DETACHED - JUNE 2 0 2 4
SALES TO LISTINGS RATIO 16% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 0.2% VS 2023
▲ 48% VS 2023
▼ 1.3% VS 2023
▼ 45% VS 2023
There were 660 detached listings in Langley in June, 7% above May and 48% higher than June 2023. June detached home sales decreased by 27% month-over-month, to 104, and were 45% below June 2023. The sales-to-listing ratio for detached in Langley, at 16%, reflected a balanced market.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 190 447
% Change
No. 142 616
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
104 660
-1.3% 0.2% -63% -45% 48%
1.9% -3% -32% -27% 7%
The detached median price in June was $1,552,450, a 3% decrease from May and 0.2% above June 2023.
$1,736,684 $1,552,450 16%
$1,704,482 $1,600,000 23%
$1,760,289 $1,550,000 43%
The average sold price was $1,736,684, 1.9% above last month and down 1.3% to June 2023.
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
660
616
555
542
541
511
1.82
1.78
1.76
447
489
468
458
1.62
410
1.51
1.49
386
358
190
142
118
96
93
87
68
104
52
51
96
91
82
$1.55M $1.57M $1.57M $1.57M $1.59M $1.57M
$1.55M $1.63M $1.55M $1.59M $1.60M $1.55M
$1.33M
23-Jun
24-May
24-Jun
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
150
75%
100
30%
20%
50
11%
7%
6%
3%
0
<$1M
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
S-L RATIO SALES INVENTORY
12 0 n/a
20 15 75%
115 34 30%
176 36 20%
83 5 6%
74 8 11%
75 5 7%
35 1 3%
26 0 n/a
44 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 July 8, 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. 23 ●
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