peninsula DETACHED - AUGUST 2 0 2 4
MONTHS OF INVENTORY 6.0 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2023
▲ 2% VS 2023
▲ 17% VS 2023
▼ 35% VS 2023
There were 145 detached listings in the Peninsula in August, 5% below July and 17% higher than August 2023. August detached home sales decreased by 35% month-over-month, to 24, and were 35% below August 2023. The months of inventory for detached in the Peninsula, at 6.0, reflected a balanced market.
THIS MONTH No. $1,753,346 $1,352,500 6.0 24 145
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,651,103 $1,325,000 3.4 37 124
6% 2% 80% -35% 17%
$1,695,954 $1,190,000 4.1 37 152
3% 14% 47% -35% -5%
The detached median price in August was $1,352,500, a 14% increase from July and 2% above August 2023.
The average sold price was $1,753,346, 3% above last month and up 6% to August 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
34
145
156
145
152
32
128
128
124
110
107
120
80
77
72
21
38
37
31
37
26
22
35
24
30
25
17
16
17
$1.35M
$1.33M $1.25M
$1.30M $1.38M
$1.27M $1.35M
$1.25M
$1.20M $1.29M
$1.19M
$1.18M
$1.07M
Aug-23
Jul-24
Aug-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
30
11.5
25
10.0
10.0
20
15
6.0
5.3
10
2.3
2.2
5
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
5 11 2.2
6 14 2.3
5 30 6.0
1 10 10.0
2 20 10.0
3 16 5.3
0 20 n/a
2 23 11.5
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 September 9, 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. 14 ●
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