victoria core DETACHED - APRIL 2 0 2 4
MONTHS OF INVENTORY 2.8 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2023
▲ 7% VS 2023
▲ 54% VS 2023
▼ 4% VS 2023
There were 434 detached listings in the Victoria Core in April, 21% above March and 54% higher than April 2023. April detached home sales increased by 10% month-over-month, to 154, and were 4% below April 2023. The months of inventory for detached in the Victoria Core, at 2.8, re&ected a sellers' market.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No. 161 282
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
154 434
5% 7% 61% -4% 54%
140 360
3% 11% 10% 10% 21%
The detached median price in April was $1,336,500, a 11% increase from March and 7% above April 2023.
$1,484,551 $1,336,500 2.8
$1,444,677 $1,206,000 2.6
$1,408,095 $1,250,000 1.8
The average sold price was $1,484,551, 3% above last month and up 5% to April 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
434
18
398
453
397
17
442
16
400
316
360
354
314
282
268
260
143
140
161
154
109
151
86
111
102
97
77
72
66
$1.34M
$1.25M $1.30M $1.27M $1.25M $1.34M $1.30M
$1.20M $1.20M $1.20M $1.15M $1.20M $1.21M
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
80
70
18.0
60
50
40
30
5.5
20
4.1
3.7
3.7
2.3
10
1.8
1.8
1.5
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
0 1 n/a
4 7 1.8
18 41 2.3
33 60 1.8
51 75 1.5
15 55 3.7
11 41 3.7
12 49 4.1
6 33 5.5
4 72 18.0
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. 8 ●
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