victoria DETACHED - MAY 2 0 2 4
MONTHS OF INVENTORY 3.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 7% VS 2023
▲ 6% VS 2023
▲ 29% VS 2023
▲ 36% VS 2023
There were 97 detached listings in Victoria in May, 18% above April and 29% higher than May 2023. May detached home sales decreased by 19% month-over-month, to 30, and were 36% above May 2023. The months of inventory for detached in Victoria, at 3.2, 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
30 97
22 75
7% 6% -5% 36% 29%
37 82
-7% -3% 46% -19% 18%
The detached median price in May was $1,305,000, a 3% decrease from April and 6% above May 2023.
$1,331,193 $1,305,000 3.2
$1,436,973 $1,349,000 2.2
$1,240,273 $1,235,500 3.4
The average sold price was $1,331,193, 7% below last month and up 7% to May 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
100
26
91
97
86
83
79
82
75
75
74
64
53
52
37
29
26
26
15
30
23
30
22
13
20
19
15
14
14
$1.43M $1.36M
$1.35M $1.31M
$1.25M
$1.24M $1.26M $1.27M
$1.23M $1.17M
$1.20M $1.14M
$1.15M
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
4.0
3.7
15
3.0
3.0
2.2
2.0
10
1.5
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 0 n/a
2 3 1.5
5 15 3.0
6 12 2.0
9 20 2.2
3 11 3.7
2 8 4.0
0 13 n/a
2 6 3.0
0 9 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. 43 ●
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