victoria DETACHED - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 2.5 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 14% VS 2023
▲ 73% VS 2023
▼ 23% VS 2023
▼ 11% VS 2023
There were 64 detached listings in Victoria in February, 23% above January and 14% higher than February 2023. February detached home sales increased by 73% month-over-month, to 26, and were 73% above February 2023. The months of inventory for detached in Victoria, at 2.5, reflected a sellers' market. The detached median price in February was $1,229,750, a 8% increase from January and 11% below February 2023. The average sold price was $1,384,590, 17% above last month and down 23% 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
26 64
15 56
-23% -11% -34% 73% 14%
15 52
17% 8% -29% 73% 23%
$1,384,590 $1,229,750 2.5
$1,183,333 $1,136,000 3.5
$1,793,000 $1,381,000 373%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
100
73
91
86
83
75
75
74
60
64
56
55
53
52
33
30
29
26
23
26
22
20
19
15
15
14
14
$1.43M $1.36M
$1.38M
18
18
$1.25M
$1.23M
$1.21M $1.24M $1.26M $1.27M
$1.20M $1.14M
$1.15M
$1.10M
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
12
10
7.0
8
6
3.5
2.5
4
2.3
2.0
1.6
1.2
1.0
2
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
0 4 n/a
6 7 1.2
7 11 1.6
4 9 2.3
2 7 3.5
3 6 2.0
1 7 7.0
2 5 2.5
0 7 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. 42 ●
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