victoria DETACHED - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 4.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2022
▲ 40% VS 2022
▲ 53% VS 2022
▼ 3% VS 2022
There were 91 detached listings in Victoria in September, 21% above August and 40% higher than September 2022. September detached home sales increased by 21% month-over-month, to 23, and were 53% above September 2022. The months of inventory for detached in Victoria, at 4.0, reflected a sellers' market. The detached median price in September was $1,360,000, a 5% decrease from August and 5% above September 2022. The average sold price was $1,451,368, 10% below last month and down 3% 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
23 91
15 65
-3% 5% -9% 53% 40%
19 75
-10% -5% 0.2% 21% 21%
$1,451,368 $1,360,000 4.0
$1,606,763 $1,425,000 3.9
$1,498,533 $1,300,000 433%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
26
91
83
75
24
75
22
63
74
60
65
56
64
55
33
42
30
29
39
25
23
22
15
20
19
16
15
14
12
$1.43M $1.36M
$1.38M
$1.30M $1.27M
$1.21M $1.24M $1.26M $1.27M
$1.15M
$1.10M
$1.05M $1.12M
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
15
9.0
10
5.3
4.0
4.0
4.0
5
2.3
2.0
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
1 1 1.0
0 1 n/a
3 12 4.0
6 14 2.3
4 16 4.0
3 16 5.3
4 8 2.0
1 9 9.0
0 10 n/a
1 4 4.0
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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