central saanich DETACHED - MARCH 2 0 2 4
MONTHS OF INVENTORY 5.5 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 10% VS 2023
▲ 83% VS 2023
▼ 13% VS 2023
▼ 57% VS 2023
There were 33 detached listings in Central Saanich in March, 10% above February and 83% higher than March 2023. March detached home sales decreased by 25% month-over-month, to 6, and were 57% below March 2023. The months of inventory for detached in Central Saanich, at 5.5, reflected a balanced market.
THIS MONTH No. $1,579,167 $1,090,000 5.5 6 33
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
14 18
10% -13% 328% -57% 83%
$1,249,850 $1,181,000 3.8 8 30
26% -8% 47% -25% 10%
The detached median price in March was $1,090,000, a 8% decrease from February and 13% below March 2023.
$1,441,571 $1,250,000 1.3
The average sold price was $1,579,167, 26% above last month and up 10% to March 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
50
42
46
49
41
42
38
30
33
28 28
19
25
18 14
14
19
12
10
8
13
12
20
9
6
8
8
6
13
$1.27M $1.24M
$1.25M $1.22M $1.25M
$1.17M $1.20M $1.22M $1.25M
$1.09M $1.13M $1.16M $1.18M
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
14
12
13.0
10
8
6
4
3.0
2
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
0 1 n/a
0 3 n/a
4 6 1.5
1 3 3.0
0 1 n/a
0 1 n/a
0 5 n/a
1 13 13.0
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. 19 ●
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