central saanich DETACHED - AUGUST 2 0 2 4
MONTHS OF INVENTORY 4.4 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 14% VS 2023
▲ 36% VS 2023
▼ 1.5% VS 2023
▼ 7% VS 2023
There were 57 detached listings in Central Saanich in August, 8% below July and 36% higher than August 2023. August detached home sales decreased by 28% month-over-month, to 13, and were 7% below August 2023. The months of inventory for detached in Central Saanich, at 4.4, reflected a sellers' market.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
13 57
14 42
14% -1.5% 46% -7% 36%
18 62
-1.9% -0.6% 27% -28% -8%
The detached median price in August was $1,155,000, a 0.6% decrease from July and 1.5% below August 2023.
$1,703,369 $1,155,000 4.4
$1,736,739 $1,162,500 3.4
$1,495,636 $1,172,500 3.0
The average sold price was $1,703,369, 1.9% below last month and up 14% to August 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
62
32
65
57
49
46
27
51
41
42
30
38
22
33
18
25
12
19
11
14
10
13
8
6
6
13
11
9
8
$1.38M
$1.27M
$1.17M $1.20M $1.22M $1.25M
$1.16M $1.16M
$1.13M $1.16M $1.18M $1.09M $1.17M
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
12
12.0
12.0
10
8
6
4
3.0
3.0
2.0
2
0.7
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
3 2 0.7
5 10 2.0
1 12 12.0
0 1 n/a
1 3 3.0
2 6 3.0
0 10 n/a
1 12 12.0
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. 19 ●
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