langford DETACHED - MAY 2 0 2 4
MONTHS OF INVENTORY 4.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 90% VS 2023
▼ 5% VS 2023
▼ 6% VS 2023
▼ 18% VS 2023
There were 190 detached listings in Langford in May, 1.1% above April and 90% higher than May 2023. May detached home sales decreased by 4% month-over-month, to 45, and were 18% below May 2023. The months of inventory for detached in Langford, at 4.2, reflected a sellers' market.
THIS MONTH No. $1,172,628 $1,025,000 4.2 45 190
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,231,125 $1,085,000 1.8 55 100
132% -18% 90%
$1,128,019 $1,083,000 4.0 47 188
4% -5% 6% -4% 1.1%
The detached median price in May was $1,025,000, a 5% decrease from April and 6% below May 2023.
The average sold price was $1,172,628, 4% above last month and down 5% to May 2023.
-5% -6%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
22
22
190
172
21
188
160
166
135
153
144
139
137
126
116
100
47
55
41
38
45
29
17
15
38
14
37
24
22
$1.18M $1.23M
$1.15M
$1.10M $1.14M
$1.09M
$1.08M $1.02M
$1.01M $1.02M
$994K $1.05M
$940K
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
50
10.0
10.0
40
7.0
6.5
30
6.3
20
4.0
10
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
1 10 10.0
21 31 1.5
11 44 4.0
8 50 6.3
2 13 6.5
0 19 n/a
0 6 n/a
1 10 10.0
1 7 7.0
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. 25 ●
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