sooke DETACHED - APRIL 2 0 2 4
MONTHS OF INVENTORY 9.7 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 59% VS 2023
▼ 23% VS 2023
▼ 6% VS 2023
▼ 21% VS 2023
There were 146 detached listings in Sooke in April, 23% above March and 59% higher than April 2023. April detached home sales decreased by 42% month-over-month, to 15, and were 21% below April 2023. The months of inventory for detached in Sooke, at 9.7, re(ected a buyers' 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
$857,286 $800,000 9.7 15 146
19 92
-23% -6% 101% -21% 59%
$957,787 $891,500 4.6 26 119
-10% -10% 113% -42% 23%
The detached median price in April was $800,000, a 10% decrease from March and 6% below April 2023.
$1,106,766 $849,900 4.8
The average sold price was $857,286, 10% below last month and down 23% to April 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
38
146
134
125
124
109
106
106
102
119
109
92
27
88
86
33
26
20
19
17
13
13
12
19
15
22
16
16
15
$938K
$940K
$933K
$907K
$893K
$892K
$881K
$850K
$849K
$850K
$825K
$824K
$800K
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
40
24+
20.0
30
20
7.3
10
1.7
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 8 n/a
7 12 1.7
6 44 7.3
1 25 25.0
1 20 20.0
0 9 n/a
0 10 n/a
0 5 n/a
0 6 n/a
0 7 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. 41 ●
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