victoria real estate board DETACHED - JANUARY 2 0 2 4
MONTHS OF INVENTORY 4.9 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 15% VS 2023
▲ 37% VS 2023
▼ 0.2% VS 2023
▼ 0.7% VS 2023
There were 777 detached listings in the Victoria Real Estate Board in January, 3% below December and 15% higher than January 2023. January detached home sales increased by 18% month-over-month, to 160, and were 37% above January 2023. The months of inventory for detached in the Victoria Real Estate Board, at 4.9, reflected a sellers' market. The detached median price in January was $1,057,500, a 2% decrease from December and 0.7% below January 2023. The average sold price was $1,230,033, 7% below last month and down 0.2% to January 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No. 117 675
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
160 777
37% 15%
136 798
-7% -2% -17% 18% -3%
$1,230,033 $1,057,500 4.9
$1,321,118 $1,080,000 5.9
$1,232,235 $1,065,000 577%
-0.2% -0.7% -16%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,227
48
47
1,113
1,074
46
1,187
1,108
918
1,019
784
777
816
798
675
713
372
289
258
227
185
318
311
272
160
117
197
183
136
$1.20M $1.19M $1.19M $1.19M $1.19M $1.21M
$1.15M $1.08M
$1.12M $1.15M
$1.08M $1.06M
$1.07M
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
140
24+
24+
120
100
18.5
80
60
8.1
40
6.6
5.9
20
2.9
2.8
2.6
2.4
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 14 2.8
17 40 2.4
43 123 2.9
45 118 2.6
21 138 6.6
14 83 5.9
8 65 8.1
2 70 35.0
2 37 18.5
3 89 29.7
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. 4 ●
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