sooke DETACHED - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 7.1 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 13% VS 2023
▲ 26% VS 2023
▼ 15% VS 2023
▼ 12% VS 2023
There were 106 detached listings in Sooke in February, 23% above January and 26% higher than February 2023. February detached home sales increased by 25% month-over-month, to 15, and were 12% below February 2023. The months of inventory for detached in Sooke, at 7.1, reflected a balanced market. The detached median price in February was $940,000, a 0.8% increase from January and 15% below February 2023. The average sold price was $1,177,287, 16% above last month and up 13% to February 2023.
THIS MONTH No. $1,177,287 $940,000 7.1 15 106
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
17 84
13% -15% 43% -12% 26%
12 86
25% 23%
$1,012,735 $932,912 7.2
16% 0.8% -1.4%
$1,044,619 $1,100,000 494%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
50
125
124
134
109
106
106
102
109
92
41
84
88
86
80
33
25
25
19
17
13
12
17
15
22
19
16
16
13
$1.10M
$938K
$940K
$933K
$907K
$895K
$881K
$893K
$850K
$849K
$850K
$825K
$824K
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
35
30
17.0
25
14.0
20
9.0
8.3
15
8.0
10
4.0
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
0 5 n/a
6 11 1.8
4 33 8.3
1 14 14.0
1 17 17.0
1 8 8.0
1 9 9.0
0 3 n/a
0 2 n/a
1 4 4.0
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. 40 ●
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