peninsula DETACHED - NOVEMBER 2 0 2 3
MONTHS OF INVENTORY 5.9 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 11% VS 2022
▲ 30% VS 2022
▼ 3% VS 2022
▼ 26% VS 2022
There were 117 detached listings in the Peninsula in November, 9% below October and 30% higher than November 2022. November detached home sales decreased by 20% month-over-month, to 20, and were 26% below November 2022. The months of inventory for detached in the Peninsula, at 5.9, reflected a balanced market. The detached median price in November was $1,249,000, a 4% increase from October and 11% above November 2022. The average sold price was $1,493,670, 3% above last month and down 3% to November 2022.
THIS MONTH No. $1,493,670 $1,249,000 5.9 20 117
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
27 90
-3% 11% 75% -26% 30%
$1,446,192 $1,200,000 5.1 25 128
3% 4% 14% -20% -9%
$1,533,700 $1,130,000 333%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
30
128
128
125
117
124
106
112
91
90
68
20
68
65
19
47
62
37
33
28
27
34
33
30
28
20
25
15
14
$1.55M
$1.38M
$1.34M $1.25M
$1.33M $1.25M
$1.26M
$1.21M $1.24M
$1.20M $1.25M
$1.13M
$1.07M
Nov-22
Oct-23
Nov-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
25
16.0
20
13.0
12.0
15
9.0
10
6.7
5
2.8
2.0
2.0
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
1 2 2.0
6 12 2.0
3 20 6.7
5 14 2.8
1 13 13.0
0 7 n/a
1 16 16.0
1 9 9.0
2 24 12.0
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 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.
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