victoria DETACHED - APRIL 2 0 2 4
MONTHS OF INVENTORY 2.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 11% VS 2023
▲ 12% VS 2023
▲ 47% VS 2023
▲ 23% VS 2023
There were 81 detached listings in Victoria in April, 3% above March and 47% higher than April 2023. April detached home sales increased by 23% month-over-month, to 37, and were 23% above April 2023. The months of inventory for detached in Victoria, at 2.2, re%ected a sellers' market.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change 11% 12% 19% 23% 47%
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
37 81
30 55
30 79
5% 16% -17% 23% 3%
The detached median price in April was $1,349,000, a 16% increase from March and 12% above April 2023.
$1,436,973 $1,349,000 2.2
$1,370,357 $1,165,000 2.6
$1,291,518 $1,205,500 1.8
The average sold price was $1,436,973, 5% above last month and up 11% to April 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
100
26
91
86
83
79
75
81
75
74
21
64
55
53
52
37
29
26
26
30
23
30
13
22
20
19
15
14
14
$1.43M $1.36M
$1.35M
$1.25M
$1.23M $1.17M
$1.21M $1.24M $1.26M $1.27M
$1.20M $1.14M
$1.15M
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
15
8.0
6.0
10
4.0
3.3
3.0
2.5
5
1.7
1.4
1.2
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 1 n/a
1 3 3.0
6 10 1.7
7 10 1.4
13 16 1.2
3 10 3.3
2 5 2.5
3 12 4.0
1 6 6.0
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 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. 43 ●
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