langley DETACHED - NOVEMBER 2 0 2 3
SALES TO LISTINGS RATIO 11% BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 11% VS 2022
▲ 16% VS 2022
▲ 24% VS 2022
▼ 25% VS 2022
There were 536 detached listings in Langley in November, 6% below October and 24% higher than November 2022. November detached home sales decreased by 19% month-over-month, to 59, and were 25% below November 2022. The sales-to-listing ratio for detached in Langley, at 11%, reflected a buyers' market. The detached median price in November was $1,512,000, a 3% decrease from October and 16% above November 2022. The average sold price was $1,538,180, 15% below last month and up 11% to November 2022.
THIS MONTH No. $1,538,180 $1,512,000 11% 59 536
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,380,485 $1,299,800 18% 79 431
11% 16% -40% -25% 24%
$1,811,517 $1,560,000 13% 73 568
-15% -3% -14% -19% -6%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
536
568
565
489
452
506
431
1.85
464
1.74
344
1.621.62
1.60
1.54
340
327
321
312
199
129
110
137
118
79
103
59
86
73
70
56
61
$1.55M $1.54M $1.53M $1.54M $1.48M $1.54M $1.56M $1.51M
$1.30M $1.33M $1.32M $1.38M $1.38M
22-Nov
23-Oct
23-Nov
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
140
120
100
80
60
40
28%
27%
14%
14%
13%
12%
20
8%
1%
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
25 7 28%
8 1 13%
26 7 27%
102 12 12%
132 18 14%
56 8 14%
61 5 8%
126 1 1%
Copyright © 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 December 11, 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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