gulf islands DETACHED - JANUARY 2 0 2 4
MONTHS OF INVENTORY 10.2 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 90% VS 2023
▲ 2% VS 2023
▼ 27% VS 2023
▼ 31% VS 2023
There were 92 detached listings in the Gulf Islands in January, 4% below December and 2% higher than January 2023. January detached home sales increased by 125% month-over-month, to 9, and were 31% below January 2023. The months of inventory for detached in the Gulf Islands, at 10.2, reflected a buyers' market. The detached median price in January was $590,000, a 33% decrease from December and 27% below January 2023. The average sold price was $1,786,444, 105% above last month and up 90% to January 2023.
THIS MONTH No. $1,786,444 $590,000 10.2 9 92
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
13 90
90% -27% 48% -31% 2%
$870,500 $880,000 24.0 4 96
105% -33% -57% 125% -4%
$941,500 $810,000 692%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
121
145
144
143
114
141
118
130
125
122
111
92
90
99
96
28
26
22
19
13
12
11
55
7
23
13
4
19
9
$1.48M
$1.22M
$1.17M $1.08M
$1.03M
$1.02M $1.01M
$880K
$869K
$810K
$790K
$735K
$590K
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
14.0
10
5
4.5
1.2
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
5 6 1.2
0 12 n/a
1 17 17.0
0 6 n/a
2 9 4.5
0 7 n/a
0 4 n/a
0 10 n/a
0 7 n/a
1 14 14.0
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. 16 ●
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