peninsula DETACHED - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 4.5 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 24% VS 2022
▲ 21% VS 2022
▼ 21% VS 2022
▼ 24% VS 2022
There were 77 detached listings in the Peninsula in December, 30% below November and 24% higher than December 2022. December detached home sales decreased by 35% month-over-month, to 17, and were 21% above December 2022. The months of inventory for detached in the Peninsula, at 4.5, reflected a sellers' market. The detached median price in December was $1,175,000, a 9% decrease from November and 24% below December 2022. The average sold price was $1,498,559, 3% above last month and down 21% to December 2022.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
17 77
14 62
-21% -24% 2% 21% 24%
$1,450,400 $1,285,000 4.2 26 110
-35% -30%
$1,498,559 $1,175,000 4.5
3% -9% 7%
$1,888,500 $1,550,000 443%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
61
128
128
110
125 124
106
112
91
68
77
62
68
65
47
37
33
28
26
34
33
30
28
28
28
25
17
14
15
$1.55M
$1.38M
$1.34M $1.25M
$1.33M $1.25M
$1.26M
$1.21M $1.24M
$1.20M $1.29M
$1.18M
$1.07M
Dec-22
Nov-23
Dec-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
20
10.0
15
8.0
6.0
10
4.3
5
1.2
1.0
0.5
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
2 1 0.5
5 6 1.2
3 13 4.3
1 8 8.0
0 7 n/a
3 3 1.0
0 13 n/a
1 6 6.0
2 20 10.0
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 January 22, 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.
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