the rennie review - August 2020

langley

TOWNHOME  JULY 

AVERAGE PRICE

AVERAGE PSF PRICE 3 % UP

BENCHMARK PRICE 3 % UP

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

29 % DOWN

SELLER’S 61 %

8 % UP

39 % UP

At 216, the number of townhome listings in Langley were 9% lower month-over-month and 29% below July of last year. Townhome sales, at 132, were up 39% month-over- month and year-over-year. The sales-to-listings ratio increased to 61% in July, as Langley’s townhome segment remained in seller’s market territory. The benchmark price in July was $576,900, 0.4% above last month and 3% higher vs last year. The average sold price was $602,050, while the average PSF sales price was $386 (up 3% and 1.6%, respectively, from last month).

VS 

VS 

VS 

VS 

VS 

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 237

% Change

No. 304

% Change

TOTAL LISTINGS

216 132 61%

-9% 39% 52%

-29% 39% 96%

TOTAL SALES

95

95

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

40%

31%

$576,900 $574,400 $602,050 $585,130

0.4% $557,800 3% $556,302

3% 8% 3%

$386

$380

1.6%

$374

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

SALES

TOTAL INVENTORY

BENCHMARK PRICE

$557,800 $553,400 $551,600 $555,500 $561,500 $569,500 $576,900

304

267

216

194

182

161

133

132

95

94

87

74

52

47

LANGLEY

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

SALES

TOTAL INVENTORY

SL RATIO

SALES TOTAL INVENTORY



SELLER'S MARKET

  





BALANCED



26

BUYER'S MARKET

4+ bdrms

39







68

3 bdrms



129





38



<3 bdrms

. . . . 0 0 0 0     QD QD QD QD                

48

S-L RATIO SALES INVENTORY

Copyright © 2020 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 August 7, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & 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.

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