langford DETACHED - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 6.2 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2023
▲ 25% VS 2023
▲ 51% VS 2023
▼ 12% VS 2023
There were 143 detached listings in Langford in February, 5% above January and 51% higher than February 2023. February detached home sales decreased by 21% month-over-month, to 23, and were 12% below February 2023. The months of inventory for detached in Langford, at 6.2, reflected a balanced market. The detached median price in February was $1,105,000, a 8% increase from January and 25% above February 2023. The average sold price was $1,226,941, 17% above last month and up 6% to February 2023.
THIS MONTH No. $1,226,941 $1,105,000 6.2 23 143
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
26 95
6% 25% 70% -12% 51%
$1,051,572 $1,025,000 4.7 29 136
17% 8% 33% -21% 5%
$1,155,415 $887,500 365%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
40
160
172
166
135
143
139
136
110
126
116
95
101
100
55
38
21
29
40
38
26
37
15
14
23
30
22
16
17
$1.18M $1.23M
$1.16M $1.09M
$1.15M
$1.04M
$1.02M $1.11M
$1.01M
$994K $1.05M
$940K
$888K
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
40
12.0
30
7.6
7.0
20
5.0
4.8
4.0
10
2.8
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 5 5.0
8 22 2.8
6 29 4.8
5 38 7.6
0 18 n/a
1 12 12.0
1 7 7.0
1 4 4.0
0 8 n/a
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. 24 ●
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