langley TOWNHOME - SEPTEMBER 2 0 2 3
SALES TO LISTINGS RATIO 37% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 6% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2022
▲ 11% VS 2022
▲ 4% VS 2022
▼ 25% VS 2022
There were 145 townhome listings in Langley in September, 5% above August and 25% lower than September 2022. September townhome sales decreased by 33% month-over-month, to 53, and were 4% above September 2022. The sales-to-listing ratio for townhomes in Langley, at 37%, reflected a sellers' market. The townhome median price in September was $865,000, a 2% increase from August and 11% above September 2022. The average sold price was $854,468, 1.6% below last month; the average PSF sale price was $557, down 1.4% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$557 $854,468 $865,000 37% 53 145
$524 $805,735 $780,000 26% 51 194
11% 39% 4% -25%
$565 $868,273 $845,000 57% 79 138
-1.4% -1.6% 2% -36% -33% 5%
6% 6%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● SEP 2022 ● SEP 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
194
155
150
166
145
132
117
138
113
108
131 108
104
119
79
102
95
96
85
53
53
51
38
58
37
33
$883K
$879K
$865K
$853K
$845K
$841K
$810K
$800K
$780K
$780K
$770K
$777K
$738K
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
80
70
14
4+ bdrms
35
60
80%
50
27
3 bdrms
40
76
41%
30
36%
28%
12
20
2 bdrms
34
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
5 4 80%
33 12 36%
73 30 41%
25 7 28%
8 0 n/a
1 0 n/a
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. 24 ●
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