the rennie review - August 2023

langley TOWNHOME-JULY 2023

SALES TO LISTINGSRATIO 57% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 5% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 1.5% VS 2022

▲ 3% VS 2022

▼ 41% VS 2022

▲ 39% VS 2022

Therewere150 townhom elistingsin Langleyin July, 15% aboveJuneand 41% lowerthan July2022. Julytownhom esalesdecreased by21% m onth-over-m onth,to85,and were39% aboveJuly 2022. Thesales-to-listing ratio fortow nhom esin Langley,at 57% ,reflected aselers'm arket. Thetownhom em edian pricein Julywas$852,500,a3% decreasefrom Juneand 3% aboveJuly2022. Theaveragesold pricewas$858,833,5% below last m onth;theaveragePSF salepricewas$577,up 0.4% to lastm onth.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No. 82% 108 131

% Change

TOTALLISTINGS TOTALSALES

$577 $858,833 $852,500 57% 85 150

$551 $845,772 $825,000 24% 61 253

5% 1.5% 3% 135% 39% -41%

0.4% -5% -3% -31% -21% 15%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$575 $902,853 $878,500

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUL 202 ● JUL 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

253

194

212

155

166

150

132

131

17

13

108

104

19

108

102

85

68

96

95

53

61

38

58

51

37

33

$883K $879K $853K

$825K $790K $780K $770K $800K

$810K $841K

$738K $777K $780K

LANGLEY

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

70

14

4+ bdrms

60

38

74%

50

70%

45

3 bdrms

40

79

30

33%

26

26%

20

2 bdrms

33

10

0

<2 bdrms

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

S-L RATIO SALES INVENTORY

6 2 33%

34 25 74%

71 50 70%

31 8 26%

7 0 n/a

1 0 n/a

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