saanich west DETACHED - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 3.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 9% VS 2022
▲ 9% VS 2022
▲ 1.6% VS 2022
▲ 11% VS 2022
There were 64 detached listings in Saanich West in September, 12% above August and 1.6% higher than September 2022. September detached home sales increased by 40% month-over-month, to 21, and were 11% above September 2022. The months of inventory for detached in Saanich West, at 3.0, reflected a sellers' market. The detached median price in September was $1,120,000, a 6% decrease from August and 9% above September 2022. The average sold price was $1,159,905, 10% below last month and up 9% to September 2022.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
21 64
19 63
9% 9% -8% 11% 1.6%
15 57
-10% -6% -20% 40% 12%
$1,159,905 $1,120,000 3.0
$1,285,538 $1,195,000 3.8
$1,066,489 $1,026,000 332%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
48
60
64
63
58
53
51
57
49
57
40
42
42
39
28
28
34
21
20
21
27
19
20
11
15
12
12
9
16
$1.16M
$1.16M $1.19M $1.20M $1.20M $1.12M
$1.07M $1.06M
$1.03M
$971K
$941K
$930K
$880K
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
25
10.0
20
15
4.8
10
5
1.1
0.5
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
2 1 0.5
5 24 4.8
11 12 1.1
0 7 n/a
0 5 n/a
2 0 n/a
1 10 10.0
0 1 n/a
0 4 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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