langford DETACHED - APRIL 2 0 2 4
MONTHS OF INVENTORY 4.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 86% VS 2023
▲ 18% VS 2023
▼ 4% VS 2023
▼ 6% VS 2023
There were 188 detached listings in Langford in April, 23% above March and 86% higher than April 2023. April detached home sales increased by 15% month-over-month, to 47, and were 18% above April 2023. The months of inventory for detached in Langford, at 4.0, re'ected a sellers' market.
THIS MONTH No. $1,128,019 $1,083,000 4.0 47 188
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,174,655 $1,155,000 2.5 40 101
-4% -6% 58% 18% 86%
$1,197,353 $1,135,000 3.7 41 153
-6% -5% 7% 15% 23%
The detached median price in April was $1,083,000, a 5% decrease from March and 6% below April 2023.
The average sold price was $1,128,019, 6% below last month and down 4% to April 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
30
188
172
30
160
166
135
153
144
139
137
126
22
116
101
100
55
41
38
47
40
29
17
38
15
37
14
24
22
$1.18M $1.23M
$1.16M $1.09M
$1.15M
$1.14M $1.08M
$1.02M $1.10M
$1.01M
$994K $1.05M
$940K
Apr-23
Mar-24
Apr-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
50
15.0
40
30
7.0
20
5.0
4.3
4.3
10
1.6
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 7 7.0
19 31 1.6
12 52 4.3
11 47 4.3
3 15 5.0
1 15 15.0
0 7 n/a
0 6 n/a
0 8 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 May 8, 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. 25 ●
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