gulf islands DETACHED - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 24.0 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 2% VS 2022
▼ 18% VS 2022
▼ 17% VS 2022
▼ 60% VS 2022
There were 96 detached listings in the Gulf Islands in December, 14% below November and 2% higher than December 2022. December detached home sales decreased by 67% month-over-month, to 4, and were 60% below December 2022. The months of inventory for detached in the Gulf Islands, at 24.0, reflected a buyers' market. The detached median price in December was $880,000, a 15% decrease from November and 17% below December 2022. The average sold price was $870,500, 35% below last month and down 18% 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
$870,500 $880,000 24.0 4 96
10 94
-18% -17% 155% -60% 2%
$1,344,708 $1,032,000 9.3 12 111
-35% -15% 159% -67% -14%
$1,061,500 $1,060,000 940%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
99
145
144
143
141
118
88
130
111
125
122
96
94
99
90
55
28
26
22
19
13
13
12
11
7
23
10
19
4
$1.48M
$1.22M
$1.17M $1.08M
$1.06M
$1.03M
$1.02M $1.01M
$880K
$869K
$810K
$790K
$735K
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
17.0
15
10
6.5
6.0
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
0 5 n/a
2 13 6.5
1 17 17.0
1 6 6.0
0 12 n/a
0 7 n/a
0 6 n/a
0 10 n/a
0 5 n/a
0 15 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 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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