malahat DETACHED - OCTOBER 2 0 2 4
MONTHS OF INVENTORY 3.3 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 45% VS 2023
▼ 11% VS 2023
▼ 13% VS 2023
▼ 10% VS 2023
There were 95 detached listings in Malahat in October, 22% below September and 10% lower than October 2023. October detached home sales increased by 32% month-over-month, to 29, and were 45% above October 2023. The months of inventory for detached in Malahat, at 3.3, reflected a sellers' market. The detached median price in October was $910,000, a 5% increase from September and 13% below October 2023. The average sold price was $1,002,131, 4% above last month and down 11% to October 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
29 95
$1,123,045 $1,046,450 5.3 20 106
-11% -13% -38% 45% -10%
$961,307 $867,500 5.5 22 122
4% 5% -41% 32% -22%
$1,002,131 $910,000 3.3
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
122
55
129
125
125
106
106
114
95
42
84
82
38
70
65
64
25
24
23
29
20
19
20
7
22
21
21
4
16
$1.08M
$1.05M
$1.06M
$985K $1.05M
$940K
$925K
$923K
$910K
$868K
$868K
$850K
$810K
Oct-23
Sep-24
Oct-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
20
9.0
15
5.0
10
2.9
5
1.9
1.5
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
7 13 1.9
11 17 1.5
7 20 2.9
3 15 5.0
0 12 n/a
1 9 9.0
0 3 n/a
0 3 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 November 12, 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. 18 ●
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