the victoria rennie review | April 2024

langford TOWNHOME - MARCH 2 0 2 4

MONTHS OF INVENTORY 3.5 SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▼ 3% VS 2023

MEDIAN PRICE

TOTAL LISTINGS

SALES

▲ 5% VS 2023

▲ 8% VS 2023

▲ 12% VS 2023

▼ 14% VS 2023

There were 67 townhome listings in Langford in March, 6% above February and 12% higher than March 2023. March townhome sales increased by 46% month-over-month, to 19, and were 14% below March 2023. The months of inventory for townhomes in Langford, at 3.5, reflected a sellers' market. The townhome median price in March was $761,145, a 0.3% increase from February and 8% above March 2023. The average sold price was $758,081, 0.3% below last month; the average PSF sale price was $459, down 5% to last month.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

19 67

22 60

-3% 5% 8% 29% -14% 12%

13 63

-5% -0.3% 0.3% -27% 46% 6%

$459 $758,081 $761,145 3.5

$473 $722,541 $707,500 2.7

$482 $760,449 $759,000 4.8

▶ MEDIAN DAYS ON MARKET

▶ RECENT TRENDS

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

30

63

63

67

70

69

60

55

57

54

52

51

49

44

21

23

23

22

18

19

16

10

16

13

13

11

9

9

9

$792K

$759K

$759K

$761K

$756K

$744K

$738K

$732K

$725K

$724K

$715K

$708K

$655K

Mar-23

Feb-24

Mar-24

▶ NUMBER OF BEDROOMS

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET < 5

BALANCED 5 - 8

BUYERS' MARKET 8+

● SALES ● TOTAL INVENTORY

● SALES ● TOTAL INVENTORY ● MONTHS OF INV.

25

3

9.0

4+ bdrms

12

20

16

15

3 bdrms

37

4.0

3.5

10

2.9

2 bdrms

17

5

0

<2 bdrms

<$600K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES

1

3 0 n/a

2 7 3.5

9 26 2.9

4 16 4.0

0 9 n/a

1 9 9.0

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. 26 ●

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