oak bay DETACHED -OCTOBER 2 0 2 3
MONTHS OF INVENTORY 7.8 BALANCEDMARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 5% VS 2022
▲ 0.9% VS 2022
▲ 27% VS 2022
▼ 36% VS 2022
Therewere70 detached listingsin O ak Bayin O ctober, 3% below Septem berand 27% higherthan October2022. O ctoberdetached hom esalesdecreased by 47% m onth-over-m onth,to 9,and were36% below O ctober 2022. Them onthsofinventory fordetached in O ak Bay,at7.8, reflected abalanced m arket. Thedetachedm edian pricein Octoberwas$2,150,000,a 8% increasefrom Septem berand 0.9% aboveO ctober 2022. Theaveragesold pricewas$2,448,556,8% abovelast m onth and up 5% toOctober2022.
THISMONTH No. $2,448,556 $2,150,000 7.8 9 70
PREVIOUSMONTH No.
PREVIOUSYEAR
No.
% Change
% Change
TOTALLISTINGS TOTALSALES MONTHSOFINVENTORY MEDIAN SOLD PRICE AVERAGESOLD PRICE
14 55
5% 0.9% 98% -36% 27%
17 72
8% 8% 84% -47% -3%
$2,263,824 $1,985,000 4.2
$2,329,688 $2,130,000 393%
▶ MEDIAN DAYSON MARKET
▶ RECENTTRENDS
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
40
68
77 77
70
72
70
58
57
55
58
31
47
40 40
26
19
17
17
21
14
8
17
7
5
14 14
9
1
$2.80M
$2.42M
$2.27M
$2.13M
$2.00M
$1.99M $2.15M
$1.81M
$1.73M $1.75M $1.69M $1.60M $1.72M
Oct-22
Sep-23 Oct-23
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET < 5
BALANCED 5 - 8
BUYERS'MARKET 8+
● SALES ● TOTALINVENTORY ● MONTHSOFINVENTORY
25
9.0
8.7
8.0
20
5.5
15
10
2.0
5
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 2 n/a
1 8 8.0
1 9 9.0
2 4 2.0
2 11 5.5
0 10 n/a
3 26 8.7
Copyright© 2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber3,2023.Aldatafrom VictoriaRealEstateBoard& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycan otbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor. Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
29
Made with FlippingBook - professional solution for displaying marketing and sales documents online