victoria real estate board DETACHED - SEPTEMBER 2 0 2 4
MONTHS OF INVENTORY 5.3 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 16% VS 2023
▲ 19% VS 2023
▼ 9% VS 2023
▼ 8% VS 2023
There were 1,429 detached listings in the Victoria Real Estate Board in September, 4% above August and 16% higher than September 2023. September detached home sales increased by 10% month-over-month, to 269, and were 19% above September 2023. The months of inventory for detached in the Victoria Real Estate Board, at 5.3, re*ected a balanced market.
THIS MONTH No. $1,231,175 $1,110,000 5.3 269 1,429
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,355,621 $1,210,000 5.4 227 1,227
19% 16%
$1,272,440 $1,148,000 5.6 244 1,373
-3% -3% -6% 10% 4%
The detached median price in September was $1,110,000, a 3% decrease from August and 8% below September 2023.
-9% -8% -1.7%
The average sold price was $1,231,175, 3% below last month and down 9% to September 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,494
35
1,400
1,429
33
1,449
1,221
1,186
1,373
1,227
1,073
1,005
876
797
23
776
381
294
281
185
269
332
227
137
318
244
213
184
162
$1.23M $1.17M $1.20M
$1.21M
$1.17M $1.15M $1.11M
$1.15M $1.15M
$1.12M $1.15M
$1.08M $1.06M
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
250
24+
200
17.2
150
12.6
10.5
100
6.2
5.3
5.0
50
3.9
3.5
2.8
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 16 5.3
27 94 3.5
77 213 2.8
62 239 3.9
41 254 6.2
29 145 5.0
10 126 12.6
11 116 10.5
5 86 17.2
4 140 35.0
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 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. 5 ●
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