saanich east TOWNHOME - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 1.1 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 8% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2023
▲ 5% VS 2023
▲ 45% VS 2023
▼ 6% VS 2023
There were 17 townhome listings in Saanich East in February, 31% above January and 6% lower than February 2023. February townhome sales increased by 433% month-over-month, to 16, and were 45% above February 2023. The months of inventory for townhomes in Saanich East, at 1.1, reflected a sellers' market. The townhome median price in February was $887,000, a 3% decrease from January and 5% above February 2023. The average sold price was $904,469, 2% below last month; the average PSF sale price was $574, up 7% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
16 17
11 18
8% 5% 5% -35% 45% -6%
$537 $925,000 $910,000 4.3 3 13
7% -2% -3% -75% 433% 31%
$574 $904,469 $887,000 1.1
$531 $861,600 $845,000 164%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
24
46
20
20
18
17
17
18
19
19
18 12
18
16
16
12
15
13
11
12
10
7
5
5
7
21
4
19
3
$1.16M
$1.06M
$1.04M
$930K
$910K
$894K
$892K
$890K
$887K
$845K
$818K
$776K
$683K
Feb-23
Jan-24
Feb-24
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
5
1.5
4+ bdrms
6
4
1.0
5
0.7
0.7
0.7
3
3 bdrms
8
0.3
2
11
2 bdrms
3
1
0
<2 bdrms
<$600K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES
3 1 0.3
3 2 0.7
3 2 0.7
3 2 0.7
2 3 1.5
2 2 1.0
0 5 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. 32 ●
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