victoria DETACHED - JULY 2 0 2 4
MONTHS OF INVENTORY 3.9 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2023
▲ 10% VS 2023
▼ 12% VS 2023
▼ 5% VS 2023
There were 86 detached listings in Victoria in July, no change to June and 4% higher than July 2023. July detached home sales decreased by 41% month-over-month, to 22, and were 10% above July 2023. The months of inventory for detached in Victoria, at 3.9, reflected a sellers' market.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
22 86
20 83
-12% -5% -6% 10% 4%
37 86
-3% -3% 68% -41% 0%
The detached median price in July was $1,207,500, a 3% decrease from June and 5% below July 2023.
$1,284,959 $1,207,500 3.9
$1,327,686 $1,249,900 2.3
$1,467,688 $1,275,000 4.2
The average sold price was $1,284,959, 3% below last month and down 12% to July 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
100
97
24
91
86
86
79
21
83
86
82
75
64
16
53
52
37
37
26
26
23
30
30
20
22
19
15
14
14
$1.43M $1.36M
$1.35M $1.31M
$1.27M
$1.25M
$1.25M $1.21M
$1.23M $1.17M
$1.20M $1.14M
$1.15M
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
10.0
8.0
8.0
15
10
3.1
2.8
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
2 1 0.5
6 8 1.3
4 11 2.8
7 22 3.1
0 13 n/a
1 8 8.0
1 10 10.0
0 5 n/a
1 8 8.0
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 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. 43 ●
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