peninsula DETACHED - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 4.3 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.8% VS 2022
▲ 14% VS 2022
▲ 3% VS 2022
▼ 10% VS 2022
There were 128 detached listings in the Peninsula in September, 3% above August and 14% higher than September 2022. September detached home sales decreased by 19% month-over-month, to 30, and were 3% above September 2022. The months of inventory for detached in the Peninsula, at 4.3, reflected a sellers' market. The detached median price in September was $1,252,500, a 5% decrease from August and 0.8% above September 2022. The average sold price was $1,368,500, 17% below last month and down 10% to September 2022.
THIS MONTH No. $1,368,500 $1,252,500 4.3 30 128
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,517,650 $1,242,400 386% 29 112
-10% 0.8% 10% 3% 14%
$1,651,103 $1,325,000 3.4 37 124
-17% -5% 27% -19% 3%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
31
128
125 124
108
106
112
112
91
90
68
21
33 68
65
47
62
37
17
28
27
30
29
34
33
28
27
15
14
$1.55M
$1.38M
$1.34M $1.25M
$1.26M $1.33M $1.25M
$1.24M
$1.21M $1.24M
$1.07M $1.13M
$1.07M
Sep-22
Aug-23
Sep-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
30
11.0
25
20
8.0
15
5.0
10
3.8
2.9
2.7
1.9
5
1.0
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
2 2 1.0
2 10 5.0
9 17 1.9
7 20 2.9
4 15 3.8
3 8 2.7
2 16 8.0
1 11 11.0
0 29 n/a
Copyright © 2023 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 October 13, 2023. 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.
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