saanich west DETACHED - JULY 2 0 2 4
MONTHS OF INVENTORY 3.9 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 13% VS 2023
▲ 25% VS 2023
▼ 15% VS 2023
▼ 5% VS 2023
There were 75 detached listings in Saanich West in July, 1.3% below June and 25% higher than July 2023.
July detached home sales decreased by 27% month-over-month, to 19, and were 5% below July 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
The months of inventory for detached in Saanich West, at 3.9, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
19 75
20 60
13% -15% 32% -5% 25%
26 76
7% -10% 35% -27% -1.3%
The detached median price in July was $1,010,000, a 10% decrease from June and 15% below July 2023.
$1,285,811 $1,010,000 3.9
$1,207,159 $1,117,500 2.9
$1,141,945 $1,195,000 3.0
The average sold price was $1,285,811, 7% above last month and up 13% to July 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
25
75
79
77
76
64
58
60
50
50
57
43
19
51
42
30
34
32
21
14
26
20
19
13
13
15
15
11
8
$1.20M $1.20M $1.12M
$1.12M $1.10M $1.12M
$1.06M $1.05M $1.04M
$1.02M $1.06M
$1.01M
$850K
Jul-23
Jun-24
Jul-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
20
13.0
15
10
4.0
4.0
5
1.3
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 3 n/a
9 12 1.3
5 20 4.0
2 8 4.0
1 13 13.0
0 8 n/a
0 6 n/a
0 4 n/a
2 1 0.5
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 August 6, 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. 35 ●
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