saanich west DETACHED - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 4.3 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 14% VS 2022
▼ 9% VS 2022
▼ 19% VS 2022
▼ 27% VS 2022
There were 34 detached listings in Saanich West in December, 32% below November and 19% lower than December 2022. December detached home sales decreased by 38% month-over-month, to 8, and were 27% below December 2022. The months of inventory for detached in Saanich West, at 4.3, reflected a sellers' market. The detached median price in December was $850,000, a 20% decrease from November and 9% below December 2022. The average sold price was $1,013,750, 18% below last month and up 14% to December 2022.
THIS MONTH No. $1,013,750 $850,000 4.3 8 34
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
11 42
14% -9% 11% -27% -19%
13 50
-18% -20% 10% -38% -32%
$1,231,991 $1,060,000 3.8
$887,091 $930,000 382%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
64
35
60
58
58
53
50
49
57
31
40
42
42
39
24
28
28
34
34
21
21
13
20
11
15
12
8
11
9
$1.16M
$1.16M $1.19M $1.20M $1.20M $1.12M
$1.07M $1.06M
$1.02M $1.06M
$930K
$880K
$850K
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
7
7.0
6
5
4
3.0
3
2
1.5
1.0
1
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 1 n/a
2 2 1.0
4 6 1.5
1 7 7.0
0 2 n/a
0 2 n/a
1 3 3.0
0 6 n/a
0 2 n/a
0 3 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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