victoria DETACHED - NOVEMBER 2 0 2 4
MONTHS OF INVENTORY 3.4 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▼ 11% VS 2023
▼ 6% VS 2023
▼ 26% VS 2023
▼ 27% VS 2023
There were 64 detached listings in Victoria in November, 16% below October and 26% lower than November 2023. November detached home sales decreased by 5% month-over-month, to 19, and were 27% below November 2023. The months of inventory for detached in Victoria, at 3.4, reflected a sellers' market. The detached median price in November was $1,165,000, a 6% decrease from October and 6% below November 2023. The average sold price was $1,145,989, 12% below last month and down 11% to November 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
19 64
26 86
-11% -6% 1.8% -27% -26%
20 76
-12% -6% -11% -5% -16%
$1,145,989 $1,165,000 3.4
$1,297,964 $1,237,500 3.8
$1,292,050 $1,245,000 3.3
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
99
39
87
86
86
81
76
87
84
33
81
64
64
53
52
37
37
26
21
26
21
30
30
19
22
20
16
15
14
$1.35M $1.31M
$1.32M
$1.25M
$1.25M $1.21M
$1.25M $1.24M $1.17M
$1.23M $1.17M
$1.20M $1.14M
Nov-23
Oct-24
Nov-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
16
14
14.0
12
10
8
6
4
1.9
1.5
2
1.3
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.74M $1.75M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
MOI INVENTORY SALES
6 8 1.3
8 15 1.9
4 6 1.5
1 14 14.0
0 5 n/a
0 8 n/a
0 1 n/a
0 7 n/a
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 December 9, 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. 43 ●
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