langley DETACHED - SEPTEMBER 2 0 2 3
SALES TO LISTINGS RATIO 15% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 18% VS 2022
▲ 12% VS 2022
▲ 17% VS 2022
▼ 2% VS 2022
There were 565 detached listings in Langley in September, 12% above August and 17% higher than September 2022. September detached home sales decreased by 22% month-over-month, to 86, and were 2% below September 2022. The sales-to-listing ratio for detached in Langley, at 15%, reflected a balanced market. The detached median price in September was $1,539,750, a 4% increase from August and 12% above September 2022. The average sold price was $1,718,928, 9% above last month and up 18% to September 2022.
THIS MONTH No. $1,718,928 $1,539,750 15% 86 565
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No. 110 506
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,451,397 $1,375,000 18% 88 484
18% 12% -16% -2% 17%
-30% -22% 12%
$1,571,425 $1,475,000 22%
9% 4%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
565
489
461
452
484
506
431
1.78
1.76
464
1.75
344
1.52
1.49
1.49
340
327
321
312
199
129
110
79
138
88
86
118
103
76
70
56
61
$1.55M $1.54M $1.53M $1.54M $1.48M $1.54M
$1.38M $1.39M $1.30M $1.33M $1.32M $1.38M $1.38M
22-Sep
23-Aug
23-Sep
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
160
140
120
100
80
48%
60
26%
40
18%
17%
17%
13%
20
7%
4%
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
S-L RATIO SALES INVENTORY
24 4 17%
1 0 n/a
6 1 17%
27 13 48%
84 22 26%
147 26 18%
72 9 13%
70 5 7%
134 6 4%
Copyright © October 10, 2023 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 October 10, 2023. 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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