victoria real estate board DETACHED - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 5.4 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 7% VS 2022
▲ 9% VS 2022
▲ 18% VS 2022
▲ 8% VS 2022
There were 1,227 detached listings in the Victoria Real Estate Board in September, 11% above August and 18% higher than September 2022. September detached home sales decreased by 12% month-over-month, to 227, and were 8% above September 2022. The months of inventory for detached in the Victoria Real Estate Board, at 5.4, reflected a balanced market. The detached median price in September was $1,210,000, a 1.8% increase from August and 9% above September 2022. The average sold price was $1,355,621, 1.1% below last month and up 7% to September 2022.
THIS MONTH No. $1,355,621 $1,210,000 5.4 227 1,227
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,269,758 $1,107,000 496% 210 1,041
7% 9% 9% 8% 18%
$1,370,259 $1,188,500 4.3 258 1,108
-1.1% 1.8% 26% -12% 11%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
29
1,227
1,113
27
1,041
1,108
886
1,019
954
784
918
23
816
713
675
652
372
289
258
221
181
318
312
227
210
273
197
139
117
$1.20M $1.19M $1.19M $1.20M $1.19M $1.21M
$1.15M $1.08M
$1.11M $1.07M $1.06M $1.05M $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
200
18.3
150
14.2
100
8.6
6.5
6.5
5.1
4.5
50
3.6
3.5
2.6
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
5 13 2.6
21 75 3.6
40 203 5.1
57 200 3.5
42 191 4.5
22 143 6.5
15 98 6.5
12 103 8.6
4 73 18.3
9 128 14.2
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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