victoria core DETACHED - AUGUST 2 0 2 4
MONTHS OF INVENTORY 4.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 12% VS 2023
▲ 3% VS 2023
▼ 11% VS 2023
▼ 5% VS 2023
There were 446 detached listings in the Victoria Core in August, 13% below July and 12% higher than August 2023. August detached home sales decreased by 19% month-over-month, to 105, and were 3% above August 2023. The months of inventory for detached in the Victoria Core, at 4.2, reflected a sellers' market.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No. 102 400
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
105 446
-11% -5% 8% 3% 12%
129 511
-3% -0.4% 7% -19% -13%
The detached median price in August was $1,265,000, a 0.4% decrease from July and 5% below August 2023.
$1,394,182 $1,265,000 4.2
$1,439,080 $1,270,000 4.0
$1,572,778 $1,335,500 3.9
The average sold price was $1,394,182, 3% below last month and down 11% to August 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
29
453
515
512
511
442
27
446
397
435
400
316
360
22
268
260
185
167
140
109
86
153
105
102
129
97
77
72
66
$1.34M $1.30M
$1.34M $1.32M $1.27M $1.27M $1.26M
$1.20M $1.20M $1.20M $1.15M $1.20M $1.21M
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
70
24+
60
50
17.5
40
30
20
6.7
6.0
3.7
10
3.0
2.7
2.1
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
0 7 n/a
17 46 2.7
34 71 2.1
19 70 3.7
17 51 3.0
7 47 6.7
8 48 6.0
2 35 17.5
1 70 70.0
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. 8 ●
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