peninsula DETACHED - MARCH 2 0 2 4
MONTHS OF INVENTORY 6.3 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 15% VS 2023
▲ 9% VS 2023
▲ 57% VS 2023
▼ 48% VS 2023
There were 107 detached listings in the Peninsula in March, 34% above February and 57% higher than March 2023. March detached home sales decreased by 23% month-over-month, to 17, and were 48% below March 2023. The months of inventory for detached in the Peninsula, at 6.3, reflected a balanced market.
THIS MONTH No. $1,587,906 $1,350,000 6.3 17 107
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
33 68
205% -48% 57%
22 80
8% 6% 73% -23% 34%
The detached median price in March was $1,350,000, a 6% increase from February and 9% above March 2023.
$1,464,536 $1,270,450 3.6
$1,386,697 $1,235,000 2.1
The average sold price was $1,587,906, 8% above last month and up 15% to March 2023.
15% 9%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
30
128 128
110
125 124
107
106
112
91
24
80
77
72
68
47
18
37
26
33
22
34
33
30
28
25
17
17
16
$1.38M
$1.34M
$1.29M
$1.27M $1.35M
$1.26M $1.33M
$1.25M $1.20M
$1.24M
$1.25M
$1.18M
$1.07M
Mar-23
Feb-24
Mar-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
25
23.0
20
15
10
9.0
5.5
5.3
5
5.0
4.0
2.6
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 2 n/a
2 8 4.0
5 13 2.6
3 16 5.3
2 11 5.5
2 10 5.0
2 18 9.0
0 6 n/a
1 23 23.0
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 April 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. 14 ●
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