colwood DETACHED - SEPTEMBER 2 0 2 4
MONTHS OF INVENTORY 5.3 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 12% VS 2023
▲ 8% VS 2023
▼ 12% VS 2023
▼ 9% VS 2023
There were 74 detached listings in Colwood in September, 16% above August and 12% higher than September 2023. September detached home sales decreased by 22% month-over-month, to 14, and were 8% above September 2023. The months of inventory for detached in Colwood, at 5.3, re(ected a balanced 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
14 74
13 66
-12% -9% 4% 8% 12%
18 64
-7% -12% 49% -22% 16%
The detached median price in September was $964,000, a 12% decrease from August and 9% below September 2023.
$1,042,964 $964,000 5.3
$1,127,130 $1,095,000 3.6
$1,181,184 $1,058,500 5.1
The average sold price was $1,042,964, 7% below last month and down 12% to September 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
72
30
74
67
76
73
66
68
65
64
50
24
51
50
48
31
19
22
16
25
15
14
23
14
18
13
16
13
10
$1.25M
$1.18M $1.11M $1.12M
$1.10M $1.05M
$1.10M
$1.06M
$1.01M $1.05M $1.03M
$958K
$964K
Sep-23
Aug-24
Sep-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
30
18.0
25
20
15
7.0
10
5
2.0
2.0
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
3 3 1.0
5 10 2.0
4 28 7.0
1 18 18.0
0 9 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 October 9, 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. 20 ●
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