victoria real estate board DETACHED - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 4.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.4% VS 2023
▲ 23% VS 2023
▲ 7% VS 2023
▼ 4% VS 2023
There were 876 detached listings in the Victoria Real Estate Board in February, 13% above January and 23% higher than February 2023. February detached home sales increased by 30% month-over-month, to 211, and were 7% above February 2023. The months of inventory for detached in the Victoria Real Estate Board, at 4.2, reflected a sellers' market. The detached median price in February was $1,154,895, a 9% increase from January and 0.4% above February 2023. The average sold price was $1,259,059, 2% above last month and down 4% to February 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No. 197 713
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
211 876
-4% 0.4% 15% 7% 23%
162 776
2% 9% -13% 30% 13%
$1,259,059 $1,154,895 4.2
$1,229,122 $1,061,250 4.8
$1,312,481 $1,150,000 362%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,227
45
1,113
1,074
1,187
1,108
1,019
876
784
918
816
798
713
776
372
289
258
24
227
185
318
311
211
197
272
21
183
162
136
$1.20M $1.19M $1.19M $1.19M $1.19M $1.21M
$1.15M $1.08M
$1.15M
$1.12M $1.15M
$1.08M $1.06M
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
160
140
24+
120
100
80
60
8.2
7.8
7.7
40
4.9
4.3
4.2
20
2.6
2.5
1.8
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
3 13 4.3
22 40 1.8
52 134 2.6
53 134 2.5
35 147 4.2
12 98 8.2
16 78 4.9
10 77 7.7
6 47 7.8
2 108 54.0
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. 4 ●
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