langford DETACHED - NOVEMBER 2 0 2 3
MONTHS OF INVENTORY 16.0 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 40% VS 2022
▼ 9% VS 2022
▼ 11% VS 2022
▼ 69% VS 2022
There were 176 detached listings in Langford in November, 6% above October and 40% higher than November 2022. November detached home sales decreased by 35% month-over-month, to 11, and were 69% below November 2022. The months of inventory for detached in Langford, at 16.0, reflected a buyers' market. The detached median price in November was $1,050,000, a 12% increase from October and 11% below November 2022. The average sold price was $1,065,818, 8% above last month and down 9% to November 2022.
THIS MONTH No. $1,065,818 $1,050,000 16.0 11 176
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,167,466 $1,175,000 360% 35 126
-9% -11% 344% -69% 40%
$989,856 $940,000 9.8 17 166
8% 12% 64% -35% 6%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
41
176
160
166
135
126
110
126
100
116
29
101
100
95
93
55
23
38
26
35
40
17
38
37
8
30
22
11
18
$1.18M
$1.18M $1.23M
$1.16M $1.09M
$1.11M $1.07M
$1.04M
$1.05M
$994K $1.05M
$940K
$888K
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
22.5
40
30
20
10.0
6.2
10
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
0 6 n/a
5 31 6.2
4 40 10.0
2 45 22.5
0 15 n/a
0 14 n/a
0 11 n/a
0 6 n/a
0 8 n/a
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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