saanich west TOWNHOME - MAY 2 0 2 4
MONTHS OF INVENTORY 1.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 9% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.5% VS 2023
▲ 13% VS 2023
▲ 80% VS 2023
▼ 18% VS 2023
There were 9 townhome listings in Saanich West in May, no change to April and 18% lower than May 2023.
May townhome sales increased by 50% month-over-month, to 9, and were 80% above May 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for townhomes in Saanich West, at 1.0, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
9 9
$489 $881,980 $775,000 2.2 5 11
-9% 0.5% 13% -55% 80% -18%
6 9
-15% 3% 9% -33% 50% 0%
The townhome median price in May was $875,000, a 9% increase from April and 13% above May 2023. The average sold price was $886,556, 3% above last month; the average PSF sale price was $447, down 15% to last month.
$447 $886,556 $875,000 1.0
$527 $856,667 $804,000 1.5
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
12
32
11
12
12
12
11
11
9
9 9
8
9
9
8
8
7
6
5
4
5
5
18
4
3
3
2
2
12
$1.14M
$875K
$875K
$827K
$825K
$800K
$804K
$775K
$780K
$750K
$723K
$723K
$653K
May-23
Apr-24
May-24
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
4
2 2
2.0
2.0
4+ bdrms
3
6
3 bdrms
4
2
0.5
1
2 bdrms
1
3
0
<2 bdrms
<$600K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES
0 1 n/a
1 2 2.0
2 4 2.0
2 1 0.5
4 0 n/a
0 1 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 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. 36 ●
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