victoria DETACHED - AUGUST 2 0 2 4
MONTHS OF INVENTORY 4.9 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2023
▼ 17% VS 2023
▼ 8% VS 2023
▼ 16% VS 2023
There were 79 detached listings in Victoria in August, 7% below July and 5% higher than August 2023. August detached home sales decreased by 27% month-over-month, to 16, and were 16% below August 2023. The months of inventory for detached in Victoria, at 4.9, 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
16 79
19 75
-17% -8% 25% -16% 5%
22 85
3% 9% 28% -27% -7%
The detached median price in August was $1,316,500, a 9% increase from July and 8% below August 2023.
$1,328,569 $1,316,500 4.9
$1,284,959 $1,207,500 3.9
$1,606,763 $1,425,000 3.9
The average sold price was $1,328,569, 3% above last month and down 17% to August 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
100
97
27
91
86
85
79
24
24
79
85
82
75
64
53
52
37
37
26
26
23
30
30
19
22
16
15
14
14
$1.43M $1.36M
$1.35M $1.31M
$1.32M
$1.25M
$1.25M $1.21M
$1.23M $1.17M
$1.20M $1.14M
$1.15M
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
15
8.0
8.0
10
4.0
3.7
3.3
2.8
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 2 n/a
3 11 3.7
4 11 2.8
4 16 4.0
3 10 3.3
1 8 8.0
1 8 8.0
0 4 n/a
0 9 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. 43 ●
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