saanich west DETACHED - JANUARY 2 0 2 4
MONTHS OF INVENTORY 3.5 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 16% VS 2023
▲ 20% VS 2023
▲ 8% VS 2023
▲ 33% VS 2023
There were 42 detached listings in Saanich West in January, 24% above December and 8% higher than January 2023. January detached home sales increased by 50% month-over-month, to 12, and were 33% above January 2023. The months of inventory for detached in Saanich West, at 3.5, reflected a sellers' market. The detached median price in January was $1,052,500, a 24% increase from December and 20% above January 2023. The average sold price was $1,085,492, 7% above last month and up 16% 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
12 42
$933,867 $880,000 433% 9 39
16% 20% -19% 33% 8%
$1,013,750 $850,000 4.3 8 34
7% 24% -18% 50% 24%
$1,085,492 $1,052,500 3.5
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
64
39
60
58
58
53
50
49
57
33
40
31
42
39
42
28
28
34
34
21
21
13
20
12
15
9
12
11
8
$1.16M
$1.16M $1.19M $1.20M $1.20M $1.12M
$1.07M $1.06M
$1.05M
$1.02M $1.06M
$880K
$850K
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
8
4.0
6
2.7
2.5
4
1.5
0.5
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
0 1 n/a
2 1 0.5
3 8 2.7
4 6 1.5
2 5 2.5
1 4 4.0
0 3 n/a
0 8 n/a
0 2 n/a
0 4 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. 34 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online