langley TOWNHOME - OCTOBER 2 0 2 4
SALES TO LISTINGS RATIO 38% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 2% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 45% VS 2023
▲ 42% VS 2023
▼ 0.3% VS 2023
▼ 1.6% VS 2023
There were 224 townhome listings in Langley in October, 7% below September and 45% higher than October 2023. October townhome sales increased by 11% month-over-month, to 84, and were 42% above October 2023. The sales-to-listing ratio for townhomes in Langley, at 38%, re(ected a sellers' market. The townhome median price in October was $831,150, a 4% decrease from September and 1.6% below October 2023. The average sold price was $864,510, 2% below last month; the average PSF sale price was $572, down 1.9% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$572 $864,510 $831,150 38% 84 224
$559 $866,759 $845,000 38% 59 154
42% 45%
$583 $883,903 $865,950 32% 76 241
19% 11% -7%
2% -0.3% -1.6% -2%
-1.9% -2% -4%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● OCT 2023 ● OCT 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
241
258
252
250
246
224
196
154
145
154
156
109
106
132
122
90
76
84
58
87
86
59
64
64
46
38
$890K
$876K
$880K
$878K
$871K
$868K
$873K
$873K
$866K
$853K
$845K
$840K
$831K
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
18
4+ bdrms
100
66
80
63%
40
3 bdrms
102
60
38%
40
26
20%
2 bdrms
17%
56
20
7%
0
<2 bdrms
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
S-L RATIO SALES INVENTORY
5 1 20%
48 30 63%
115 44 38%
41 7 17%
14 1 7%
0 1 n/a
1 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. 24 ●
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