peninsula DETACHED - JANUARY 2 0 2 4
MONTHS OF INVENTORY 4.5 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 14% VS 2023
▲ 0.4% VS 2023
▲ 6% VS 2023
▲ 7% VS 2023
There were 72 detached listings in the Peninsula in January, 6% below December and 6% higher than January 2023. January detached home sales decreased by 6% month-over-month, to 16, and were 7% above January 2023. The months of inventory for detached in the Peninsula, at 4.5, reflected a sellers' market. The detached median price in January was $1,074,000, a 9% decrease from December and 0.4% above January 2023. The average sold price was $1,348,902, 10% below last month and up 14% to January 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
16 72
15 68
7% 6%
17 77
-6% -6%
$1,348,902 $1,074,000 4.5
$1,498,559 $1,175,000 4.5
-10% -9% -0.6%
$1,186,974 $1,070,000 453%
14% 0.4% -0.7%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
76
128 128
110
125 124
106
112
91
61
72
77
68
68
65
47
37
33
28
26
40
34
33
30
28
25
16
15
17
$1.38M
$1.34M
$1.29M
$1.26M $1.33M
$1.25M $1.20M
$1.25M
$1.21M $1.24M
$1.18M
$1.07M
$1.07M
Jan-23
Dec-23
Jan-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
17.0
15
13.0
10
7.0
5
4.5
1.6
0.7
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 1 n/a
6 4 0.7
5 8 1.6
2 9 4.5
0 9 n/a
1 7 7.0
1 13 13.0
0 4 n/a
1 17 17.0
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 February 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. 13 ●
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