gulf islands DETACHED - JUNE 2 0 2 4
MONTHS OF INVENTORY 9.9 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 29% VS 2023
▲ 10% VS 2023
▲ 23% VS 2023
▼ 22% VS 2023
There were 178 detached listings in the Gulf Islands in June, 17% above May and 23% higher than June 2023.
June detached home sales decreased by 31% month-over-month, to 18, and were 22% below June 2023.
THIS MONTH No. $1,296,306 $1,124,000 9.9 18 178
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
The months of inventory for detached in the Gulf Islands, at 9.9, re&ected a buyers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,005,613 $1,020,000 6.3 23 145
29% 10% 57% -22% 23%
$1,352,099 $1,070,000 5.8 26 152
-4% 5% 69% -31% 17%
The detached median price in June was $1,124,000, a 5% increase from May and 10% above June 2023.
The average sold price was $1,296,306, 4% below last month and up 29% to June 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
55
178
143
141
145
132
152
144
111
125
42
107
96
36
92
90
26
22
19
16
14
13
23
12
9
18
4
20
19
$1.18M
$1.17M
$1.08M
$1.07M $1.12M
$1.02M $1.01M
$1.03M
$880K
$839K
$808K
$735K
$590K
Jun-23
May-24
Jun-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
35
30
21.0
25
16.0
20
12.0
15
10.0
10
6.5
6.5
5.0
4.5
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 10 10.0
4 26 6.5
2 32 16.0
4 18 4.5
2 24 12.0
0 13 n/a
2 10 5.0
2 13 6.5
0 11 n/a
1 21 21.0
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 July 8, 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. 17 ●
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