saanich west DETACHED - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 3.3 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 19% VS 2023
▲ 25% VS 2023
▼ 0.3% VS 2023
▼ 10% VS 2023
There were 50 detached listings in Saanich West in February, 19% above January and 19% higher than February 2023. February detached home sales increased by 15% month-over-month, to 15, and were 25% above February 2023. The months of inventory for detached in Saanich West, at 3.3, reflected a sellers' market. The detached median price in February was $1,050,000, a 0.9% decrease from January and 10% below February 2023. The average sold price was $1,166,887, 6% above last month and down 0.3% 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
15 50
12 42
25% 19%
13 42
15% 19%
$1,166,887 $1,050,000 3.3
$1,098,146 $1,060,000 3.2
6% -0.9% 3%
$1,170,566 $1,161,000 350%
-0.3% -10% -5%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
64
38
60
58
58
53
50
49
57
50
40
42
42
28
28
34
34
21
21
21
13
13
20
15
15
12
11
8
14
$1.16M
$1.16M $1.19M $1.20M $1.20M $1.12M
$1.07M $1.06M
$1.06M $1.05M
$1.02M $1.06M
$850K
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
8.0
8
6.0
6
5.0
4
1.8
1.5
2
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
6 9 1.5
5 9 1.8
1 6 6.0
0 4 n/a
1 5 5.0
1 8 8.0
0 3 n/a
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. 34 ●
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