malahat DETACHED - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 7.0 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2022
▲ 27% VS 2022
▲ 45% VS 2022
▼ 2% VS 2022
There were 112 detached listings in Malahat in September, 12% above August and 27% higher than September 2022. September detached home sales decreased by 27% month-over-month, to 16, and were 45% above September 2022. The months of inventory for detached in Malahat, at 7.0, reflected a balanced market. The detached median price in September was $975,000, a 8% decrease from August and 2% below September 2022. The average sold price was $1,047,938, 1.6% below last month and up 5% to September 2022.
THIS MONTH No. $1,047,938 $975,000 7.0 16 112
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
11 88
5% -2% -13% 45% 27%
$1,064,818 $1,055,500 4.5 22 100
-1.6% -8% 54% -27% 12%
$999,202 $999,999 800%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
114
36
112
92
101
100
32
88
79
29
78
66
54 26
50
48
48
30
23
22
19
17
10
10
23
16
22
11
12
$1.06M
$1.05M $1.02M
$1000K
$978K
$975K
$970K
$930K
$933K
$899K
$884K
$833K
$818K
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
14.5
25
20
9.0
15
6.7
10
3.7
3.7
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 1 n/a
3 11 3.7
7 26 3.7
2 29 14.5
3 20 6.7
0 8 n/a
1 9 9.0
0 4 n/a
0 3 n/a
0 1 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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