peninsula DETACHED - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 3.6 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2023
▲ 23% VS 2023
▼ 4% VS 2023
▼ 21% VS 2023
There were 80 detached listings in the Peninsula in February, 11% above January and 23% higher than February 2023. February detached home sales increased by 38% month-over-month, to 22, and were 21% below February 2023. The months of inventory for detached in the Peninsula, at 3.6, reflected a sellers' market. The detached median price in February was $1,270,450, a 18% increase from January and 5% above February 2023. The average sold price was $1,464,536, 9% above last month and down 4% to February 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
22 80
28 65
-4% 5% 57% -21% 23%
16 72
9% 18% -19% 38% 11%
$1,464,536 $1,270,450 3.6
$1,348,902 $1,074,000 4.5
$1,525,829 $1,209,000 232%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
76
128 128
110
125
124
106
112
91
80
77
65
72
68
47
37
33
26
28
34
33
30
22
28
25
17
16
25
$1.38M
$1.34M
$1.29M
$1.27M
$1.26M $1.33M
$1.25M $1.20M
$1.25M
18
$1.21M $1.24M
$1.18M
$1.07M
Feb-23
Jan-24
Feb-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
20
21.0
15
10
7.5
7.0
5
2.7
1.5
1.5
1.3
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 3 n/a
3 4 1.3
6 9 1.5
6 9 1.5
1 7 7.0
3 8 2.7
2 15 7.5
0 4 n/a
1 21 21.0
Copyright © 2024 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 March 7, 2024. 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. 13 ●
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