colwood DETACHED - MAY 2 0 2 4
MONTHS OF INVENTORY 2.4 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2023
▲ 49% VS 2023
▲ 35% VS 2023
▼ 3% VS 2023
There were 73 detached listings in Colwood in May, 9% above April and 49% higher than May 2023. May detached home sales increased by 35% month-over-month, to 31, and were 35% above May 2023. The months of inventory for detached in Colwood, at 2.4, reflected a sellers' 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
31 73
23 49
6% -3% 11% 35% 49%
23 67
-4% -6% -19% 35% 9%
The detached median price in May was $1,105,000, a 6% decrease from April and 3% below May 2023.
$1,227,171 $1,105,000 2.4
$1,276,600 $1,180,000 2.9
$1,158,443 $1,142,189 2.1
The average sold price was $1,227,171, 4% below last month and up 6% to May 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
72
23
73
67
66
62
57
65
50
19
57
49
18
51
50
48
31
25
23
16
15
14
23
21
16
16
13
13
10
$1.18M $1.11M
$1.14M
$1.10M $1.05M
$1.02M $1.09M $1.07M $1.06M
$1.01M $1.05M $1.03M
$958K
May-23
Apr-24
May-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
20
8.0
15
10
3.3
3.0
5
1.5
1.2
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
1 3 3.0
9 11 1.2
13 20 1.5
6 20 3.3
0 4 n/a
1 8 8.0
0 5 n/a
0 1 n/a
1 1 1.0
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 June 10, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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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