langley CONDO - OCTOBER 2 0 2 4
SALES TO LISTINGS RATIO 22% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.1% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 4% VS 2023
▲ 0.3% VS 2023
▲ 56% VS 2023
▲ 35% VS 2023
There were 445 condo listings in Langley in October, 3% below September and 56% higher than October 2023.
October condo sales increased by 16% month-over-month, to 100, and were 35% above October 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in Langley, at 22%, re(ected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
100 445
$675 $558,389 $548,500 26% 74 286
35% 56%
$663 $567,633 $551,500 19% 86 458
20% 16% -3%
The condo median price in October was $550,000, a 0.3% decrease from September and 0.3% above October 2023. The average sold price was $579,642, 2% above last month; the average PSF sale price was $667, up 0.7% to last month.
$667 $579,642 $550,000 22%
-1.1% 4% 0.3% -13%
0.7% 2% -0.3%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● OCT 2023 ● OCT 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
445
458
385
381
404
341
354
286
286
243
286
262
219
105
103
104
73
100
74
100
98
96
86
86
67
63
$587K
$580K
$580K
$570K
$575K
$575K
$567K
$560K
$556K
$549K
$552K
$550K
$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
150
1 1
4+ bdrms
100
7
3 bdrms
42
43%
33%
50
24% 24%
62
2 bdrms
14% 14%
11%
275
9%
0
30
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
7 3 43%
69 23 33%
154 37 24%
108 26 24%
65 6 9%
28 3 11%
7 1 14%
7 1 14%
127
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. 25 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online