malahat DETACHED - JANUARY 2 0 2 4
MONTHS OF INVENTORY 21.3 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 15% VS 2023
▲ 26% VS 2023
▲ 33% VS 2023
▼ 70% VS 2023
There were 64 detached listings in Malahat in January, 1.5% below December and 33% higher than January 2023. January detached home sales decreased by 57% month-over-month, to 3, and were 70% below January 2023. The months of inventory for detached in Malahat, at 21.3, reflected a buyers' market. The detached median price in January was $1,050,000, a 24% increase from December and 26% above January 2023. The average sold price was $1,173,417, 32% above last month and up 15% to January 2023.
THIS MONTH No. $1,173,417 $1,050,000 21.3 3 64
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
10 48
344% -70% 33%
$889,857 $850,000 9.3 7 65
32% 24% 130% -57% -1.5%
$1,022,400 $832,500 480%
15% 26%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
114
112
60
106
92
101
100
82
64
66
65
48
54 26
50
34
34
30
23
22
20
19
10
23
22
7
10
16
3
$1.06M
$1.05M $1.02M
$1.05M
$978K
$975K $1.05M
$933K
$899K
$884K
$868K
$850K
$833K
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
12.0
10
5
3.0
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
0 1 n/a
0 10 n/a
1 17 17.0
1 12 12.0
0 12 n/a
1 3 3.0
0 4 n/a
0 3 n/a
0 1 n/a
0 1 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 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. 17 ●
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