langley CONDO - SEPTEMBER 2 0 2 3
SALES TO LISTINGS RATIO 30% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 14% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2022
▲ 9% VS 2022
▲ 42% VS 2022
▼ 6% VS 2022
There were 279 condo listings in Langley in September, 7% above August and 6% lower than September 2022. September condo sales decreased by 15% month-over-month, to 85, and were 42% above September 2022. The sales-to-listing ratio for condos in Langley, at 30%, reflected a sellers' market. The condo median price in September was $569,900, a 0.4% increase from August and 9% above September 2022. The average sold price was $584,509, 3% below last month; the average PSF sale price was $694, up 1.6% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No. 100 261
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$694 $584,509 $569,900 30% 85 279
$610 $556,150 $522,500 20% 60 297
14% 5% 9% 51% 42% -6%
1.6% -3% 0.4% -20% -15% 7%
$683 $599,676 $567,500 38%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● SEP 2022 ● SEP 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
311
297
274
261
279
250
242
230
235
222
220
220
197
136
131
131
100
86
106
104
85
60
62
57
55
48
$597K
$568K
$570K
$556K
$550K
$543K
$538K
$540K
$529K
$523K
$527K
$506K
$494K
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
140
120
4+ bdrms
1
100
80
8
3 bdrms
20
60
44%
33%
40
50
21%
2 bdrms
181
20
8%
0
27
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
<2 bdrms
S-L RATIO SALES INVENTORY
3 1 33%
124 55 44%
128 27 21%
24 2 8%
77
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. 25 ●
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