saanich east DETACHED - MARCH 2 0 2 4
MONTHS OF INVENTORY 2.6 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 42% VS 2023
▲ 9% VS 2023
▼ 5% VS 2023
▼ 5% VS 2023
There were 132 detached listings in Saanich East in March, 6% above February and 42% higher than March 2023. March detached home sales increased by 65% month-over-month, to 51, and were 9% above March 2023. The months of inventory for detached in Saanich East, at 2.6, reflected a sellers' market.
THIS MONTH No. $1,366,225 $1,230,000 2.6 51 132
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
47 93
-5% -5% 31% 9% 42%
$1,227,452 $1,175,000 4.0 31 125
11% 5% -36% 65% 6%
The detached median price in March was $1,230,000, a 5% increase from February and 5% below March 2023.
$1,444,753 $1,295,000 2.0
The average sold price was $1,366,225, 11% above last month and down 5% to March 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
165
34
172 171
147
125
124
132
135
108
93
62 98
96
93 56
51
39
47
18
33
53
31
17
45
41
31
27
25
$1.37M $1.40M
$1.34M $1.30M
$1.30M $1.26M
$1.25M
$1.20M $1.20M $1.23M $1.24M $1.18M $1.23M
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
30
11.0
25
20
15
10
3.8
3.2
2.8
2.3
5
1.1
1.0
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
1 0 n/a
8 8 1.0
17 19 1.1
10 28 2.8
6 19 3.2
4 9 2.3
4 15 3.8
1 11 11.0
0 23 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. 32 ●
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