langford CONDO - MARCH 2 0 2 4
MONTHS OF INVENTORY 4.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 11% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 56% VS 2023
▲ 80% VS 2023
▼ 8% VS 2023
▼ 10% VS 2023
There were 128 condo listings in Langford in March, 23% above February and 56% higher than March 2023.
March condo sales decreased by 4% month-over-month, to 27, and were 80% above March 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Langford, at 4.7, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$640 $544,247 $524,895 4.7 27 128
15 82
11% -8% -10% -13% 80% 56%
$610 $503,861 $499,950 3.7 28 104
5% 8% 5% 28% -4% 23%
The condo median price in March was $524,895, a 5% increase from February and 10% below March 2023. The average sold price was $544,247, 8% above last month; the average PSF sale price was $640, up 5% to last month.
$576 $589,171 $585,000 5.5
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
26
128
107
104
102
22
91
90
88
84
82
89
84
18
68
66
38
33
28
26
25
27
19
18
18
18
17
16
15
$585K
$565K
$554K
$550K
$546K
$535K
$525K
$525K
$524K
$515K
$500K
$489K
$490K
Mar-23
Feb-24
Mar-24
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET <5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
70
7.4
4+ bdrms
60
50
1
40
3 bdrms
10
3.3
30
16
20
2 bdrms
80
10
0
10
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 3 n/a 0 4 n/a 22 72 3.3 5 37 7.4 0 11 n/a 0 1 n/a
<2 bdrms
38
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 April 8, 2024. All data from Victoria Real Estate Board & 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. 27 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online