north saanich DETACHED - JANUARY 2 0 2 4
MONTHS OF INVENTORY 11.5 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2023
▲ 39% VS 2023
▼ 2% VS 2023
▼ 20% VS 2023
There were 46 detached listings in North Saanich in January, 12% above December and 39% higher than January 2023. January detached home sales decreased by 20% month-over-month, to 4, and were 20% below January 2023. The months of inventory for detached in North Saanich, at 11.5, reflected a buyers' market. The detached median price in January was $1,225,000, a 32% decrease from December and 2% below January 2023. The average sold price was $1,320,502, 35% below last month and up 6% to January 2023.
THIS MONTH No. $1,320,502 $1,225,000 11.5 4 46
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,242,322 $1,250,000 660% 5 33
6% -2% 74% -20% 39%
$2,036,000 $1,800,000 8.2 5 41
-35% -32% 40% -20% 12%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
61
94
56
61
51
56
56
56
84
46
41
38
33
31 16
31
17
15
13
13
48
13
5
11
11
11
5
4
7
$1.80M
$1.75M
$1.63M $1.65M $1.65M
$1.49M $1.59M
$1.40M
$1.42M $1.48M $1.37M
$1.25M
$1.23M
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
10
8.0
8
6.0
6
4
2.0
2
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
1 1 1.0
1 2 2.0
1 8 8.0
0 8 n/a
1 6 6.0
0 10 n/a
0 2 n/a
0 9 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. 28 ●
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