langley DETACHED - OCTOBER 2 0 2 4
SALES TO LISTINGS RATIO 15% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 19% VS 2023
▲ 43% VS 2023
▼ 11% VS 2023
▼ 8% VS 2023
There were 644 detached listings in Langley in October, 8% below September and 19% higher than October 2023. October detached home sales increased by 17% month-over-month, to 97, and were 43% above October 2023. The sales-to-listing ratio for detached in Langley, at 15%, re(ected a balanced market.
THIS MONTH No. $1,703,179 $1,460,000 15% 97 644
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,920,349 $1,588,450 13% 68 541
-11% -8% 20% 43% 19%
$1,767,766 $1,590,000 12% 83 700
-4% -8% 27% 17% -8%
The detached median price in October was $1,460,000, a 8% decrease from September and 8% below October 2023.
The average sold price was $1,703,179, 4% below last month and down 11% to October 2023.
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
660
700
616
689
644
665
555
511
1.88
541
1.84
1.76
458
1.57
1.54
410
1.51
386
358
142
92
91
87
52
51
97
118
68
103
91
87
83
$1.59M $1.57M
$1.55M $1.62M $1.55M $1.59M $1.60M $1.55M $1.58M $1.60M $1.59M
$1.46M
$1.33M
23-Oct
24-Sep
24-Oct
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
150
52%
100
30%
50
19%
18%
8%
6%
5%
5%
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
17 3 18%
29 15 52%
105 31 30%
178 33 19%
83 5 6%
64 5 8%
66 3 5%
34 1 3%
22 1 5%
46 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 November 12, 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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