saanich west DETACHED - APRIL 2 0 2 4
MONTHS OF INVENTORY 2.4 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.7% VS 2023
▲ 5% VS 2023
▲ 57% VS 2023
▲ 14% VS 2023
There were 77 detached listings in Saanich West in April, 51% above March and 57% higher than April 2023. April detached home sales increased by 7% month-over-month, to 32, and were 14% above April 2023. The months of inventory for detached in Saanich West, at 2.4, re&ected 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
32 77
28 49
0.7% 5% 38% 14% 57%
30 51
4% 8% 42% 7% 51%
The detached median price in April was $1,117,000, a 8% increase from March and 5% above April 2023.
$1,210,021 $1,117,000 2.4
$1,161,455 $1,035,750 1.7
$1,201,722 $1,059,500 1.8
The average sold price was $1,210,021, 4% above last month and up 0.7% to April 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
18
77
64
16
60
58
53
50
50
57
14
49
51
40
42
30
28
32
34
34
28
21
13
13
20
15
15
11
8
$1.16M $1.19M $1.20M $1.20M $1.12M
$1.12M
$1.06M
$1.06M $1.05M $1.04M
$1.02M $1.06M
$850K
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
8.0
8.0
15
10
2.8
5
2.0
1.5
1.4
1.0
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 3 1.5
6 17 2.8
11 15 1.4
10 10 1.0
1 8 8.0
1 8 8.0
0 10 n/a
1 2 2.0
0 4 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. 35 ●
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