langford DETACHED - MARCH 2 0 2 4
MONTHS OF INVENTORY 3.8 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 9% VS 2023
▲ 40% VS 2023
▲ 37% VS 2023
▼ 0.8% VS 2023
There were 154 detached listings in Langford in March, 7% above February and 40% higher than March 2023. March detached home sales increased by 71% month-over-month, to 41, and were 37% above March 2023. The months of inventory for detached in Langford, at 3.8, reflected a sellers' market.
THIS MONTH No. $1,197,353 $1,135,000 3.8 41 154
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,206,990 $1,042,500 3.7 30 110
37% 40%
$1,217,277 $1,103,750 6.0 24 144
-1.6% 3% -37% 71% 7%
The detached median price in March was $1,135,000, a 3% increase from February and 9% above March 2023.
-0.8% 9% 2%
The average sold price was $1,197,353, 1.6% below last month and down 0.8% to March 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
30
160
172
166
154
135
144
139
137
126
110
116
22
101
55 100
38
41
29
15
30
40
38
37
15
14
24
22
17
$1.18M $1.23M
$1.16M $1.09M
$1.15M
$1.10M $1.14M
$1.04M
$1.01M $1.02M
$994K $1.05M
$940K
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
40
7.5
6.5
30
4.8
20
3.4
3.0
2.1
1.7
10
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
3 5 1.7
13 27 2.1
11 37 3.4
8 38 4.8
2 13 6.5
2 15 7.5
2 6 3.0
0 6 n/a
0 7 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 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. 25 ●
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