victoria real estate board DETACHED - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 5.9 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 8% VS 2022
▲ 3% VS 2022
▲ 22% VS 2022
▼ 2% VS 2022
There were 798 detached listings in the Victoria Real Estate Board in December, 26% below November and 22% higher than December 2022. December detached home sales decreased by 26% month-over-month, to 136, and were 2% below December 2022. The months of inventory for detached in the Victoria Real Estate Board, at 5.9, reflected a balanced market. The detached median price in December was $1,080,000, a 6% decrease from November and 3% above December 2022. The average sold price was $1,321,118, 3% above last month and up 8% to December 2022.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No. 139 652
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
136 798
8% 3% 25% -2% 22%
$1,279,277 $1,150,000 5.8 185 1,074
1.1% -26% -26%
$1,321,118 $1,080,000 5.9
$1,228,418 $1,050,000 469%
3% -6%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,227
47
1,113
1,074
1,187
1,108
1,019
784
918
37
37
816
798
652
713
675
372
289
258
227
185
318
311
272
139
136
197
183
117
$1.20M $1.19M $1.19M $1.19M $1.19M $1.21M
$1.15M $1.08M
$1.12M $1.15M $1.08M
$1.05M $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
140
24+
120
100
80
13.3
12.9
12.7
60
8.4
7.3
40
3.7
20
3.1
2.9
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 11 n/a
18 55 3.1
41 117 2.9
34 125 3.7
11 140 12.7
12 88 7.3
7 59 8.4
3 73 24.3
3 40 13.3
7 90 12.9
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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