sooke DETACHED - JULY 2 0 2 4
MONTHS OF INVENTORY 9.8 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 12% VS 2023
▲ 79% VS 2023
▲ 25% VS 2023
▼ 0.1% VS 2023
There were 195 detached listings in Sooke in July, 1.6% above June and 79% higher than July 2023. July detached home sales increased by 5% month-over-month, to 20, and were 25% above July 2023. The months of inventory for detached in Sooke, at 9.8, reflected a buyers' market.
THIS MONTH No. $1,058,940 $880,500 9.8 20 195
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$941,687 $881,250 6.8 16 109
43% 25% 79%
$923,600 $830,000 10.1 19 192
15% 6% -4% 5% 1.6%
The detached median price in July was $880,500, a 6% increase from June and 0.1% below July 2023.
The average sold price was $1,058,940, 15% above last month and up 12% to July 2023.
12% -0.1%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
48
195
169
192
42
146
134
125
124
37
109
106
109
119
88
86
32
26
19
17
16
15
15
13
13
12
20
16
19
$946K
$933K
$940K
$893K
$892K
$881K
$881K
$849K
$850K
$830K
$825K
$824K
$800K
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
50
23.0
40
30
11.0
20
9.3
6.6
6.5
5.6
10
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 7 n/a
5 28 5.6
8 53 6.6
3 28 9.3
1 23 23.0
0 14 n/a
2 13 6.5
1 11 11.0
0 8 n/a
0 10 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 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. 41 ●
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