langley CONDO - JUNE 2 0 2 4
SALES TO LISTINGS RATIO 29% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 2% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 4% VS 2023
▲ 8% VS 2023
▲ 61% VS 2023
▼ 21% VS 2023
There were 354 condo listings in Langley in June, 7% below May and 61% higher than June 2023.
June condo sales increased by 6% month-over-month, to 104, and were 21% below June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 131 220
% Change
No.
% Change
The sales-to-listing ratio for condos in Langley, at 29%, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
104 354
-51% -21% 61%
$682 $597,343 $579,950 26% 98 381
-0.2% -1.1% 1.2% 14% 6% -7%
The condo median price in June was $586,900, a 1.2% increase from May and 8% above June 2023. The average sold price was $590,681, 1.1% below last month; the average PSF sale price was $680, down 0.2% to last month.
$680 $590,681 $586,900 29%
$696 $568,830 $543,000 60%
-2% 4% 8%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUN 2023 ● JUN 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
381
341
354
286
286
279
243
242
286
261
262
220
219
131
105
103
100
104
73
104
100
98
85
74
67
63
$597K
$587K
$580K
$580K
$575K
$575K
$568K
$570K
$570K
$560K
$543K
$549K
$545K
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
1 1
100
4+ bdrms
80
7
3 bdrms
60
33
37%
33%
40
29% 29%
25%
68
17%
2 bdrms
12%
20
204
0
28
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
6 1 17%
73 27 37%
112 32 29%
101 29 29%
33 11 33%
17 2 12%
4 0 n/a
8 2 25%
116
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. 25 ●
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