langford DETACHED - JANUARY 2 0 2 4
MONTHS OF INVENTORY 4.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 36% VS 2023
▲ 263% VS 2023
▼ 8% VS 2023
▼ 4% VS 2023
There were 136 detached listings in Langford in January, 2% below December and 36% higher than January 2023. January detached home sales increased by 107% month-over-month, to 29, and were 263% above January 2023. The months of inventory for detached in Langford, at 4.7, reflected a sellers' market. The detached median price in January was $1,025,000, a 1.8% increase from December and 4% below January 2023. The average sold price was $1,051,572, 6% below last month and down 8% to January 2023.
THIS MONTH No. $1,051,572 $1,025,000 4.7 29 136
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,149,250 $1,072,500 1250% 8 100
-62% 263% 36%
$1,122,979 $1,006,900 9.9 14 139
-6% 1.8% -53% 107% -2%
-8% -4%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
47
160
172
166
43
135
136
40
139
110
126
116
100
101
100
95
55
38
26
40
29
38
37
15
14
30
22
8
17
$1.18M $1.23M
$1.16M $1.09M
$1.15M
$1.07M
$1.04M
$1.01M $1.02M
$994K $1.05M
$940K
$888K
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
40
14.3
11.0
30
20
10
2.3
1.6
1.0
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
3 3 1.0
10 16 1.6
12 28 2.3
3 43 14.3
0 14 n/a
1 11 11.0
0 9 n/a
0 4 n/a
0 8 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. 24 ●
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