langford DETACHED - AUGUST 2 0 2 4
MONTHS OF INVENTORY 4.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 10% VS 2023
▲ 10% VS 2023
▲ 40% VS 2023
▲ 16% VS 2023
There were 176 detached listings in Langford in August, 4% below July and 40% higher than August 2023. August detached home sales increased by 29% month-over-month, to 44, and were 16% above August 2023. The months of inventory for detached in Langford, at 4.0, reflected a sellers' market.
THIS MONTH No. $1,166,108 $1,090,000 4.0 44 176
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change 10% 10% 21% 16% 40%
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,062,138 $993,500 3.3 38 126
$1,137,445 $1,103,037 5.4 34 183
3% -1.2% -26% 29% -4%
The detached median price in August was $1,090,000, a 1.2% decrease from July and 10% above August 2023.
The average sold price was $1,166,108, 3% above last month and up 10% to August 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
208
35
188
172
190
32
176
160
183
166
153
27
144
139
137
126
47
45
41
44
29
38
17
15
14
34
33
24
22
$1.15M
$1.10M $1.14M $1.08M
$1.10M $1.09M
$1.02M $1.08M
$1.01M $1.02M
$994K $1.05M
$940K
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
40
13.0
11.0
30
9.0
20
4.4
2.9
10
2.8
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
4 11 2.8
14 34 2.4
7 31 4.4
15 43 2.9
2 22 11.0
1 13 13.0
0 8 n/a
1 9 9.0
0 5 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 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. 25 ●
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