saanich west DETACHED - AUGUST 2 0 2 4
MONTHS OF INVENTORY 4.4 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 30% VS 2023
▲ 13% VS 2023
▼ 15% VS 2023
▼ 11% VS 2023
There were 74 detached listings in Saanich West in August, 1.3% below July and 30% higher than August 2023. August detached home sales decreased by 11% month-over-month, to 17, and were 13% above August 2023. The months of inventory for detached in Saanich West, 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
17 74
15 57
-15% -11% 15% 13% 30%
19 75
-15% 5% 10% -11% -1.3%
The detached median price in August was $1,060,000, a 5% increase from July and 11% below August 2023.
$1,086,612 $1,060,000 4.4
$1,285,811 $1,010,000 3.9
$1,285,538 $1,195,000 3.8
The average sold price was $1,086,612, 15% below last month and down 15% to August 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
48
79
74
77
76
75
64
58
57
50
50
43
51
33
42
30
34
32
21
26
25
13
13
17
15
19
15
11
8
$1.20M $1.12M
$1.12M $1.10M $1.12M
$1.06M $1.05M $1.04M
$1.02M $1.06M
$1.01M $1.06M
$850K
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
20
9.0
15
4.5
10
3.7
5
1.4
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
0 3 n/a
8 11 1.4
6 22 3.7
1 9 9.0
2 9 4.5
0 7 n/a
0 7 n/a
0 5 n/a
0 1 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. 35 ●
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