view royal DETACHED - MARCH 2 0 2 4
MONTHS OF INVENTORY 2.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▼ 10% VS 2023
▼ 16% VS 2023
▼ 25% VS 2023
▼ 33% VS 2023
There were 12 detached listings in View Royal in March, 33% above February and 25% lower than March 2023. March detached home sales increased by 100% month-over-month, to 6, and were 33% below March 2023. The months of inventory for detached in View Royal, at 2.0, reflected a sellers' market.
THIS MONTH No. $1,093,983 $1,045,000 2.0 6 12
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,211,033 $1,250,000 1.8 9 16
-10% -16% 13% -33% -25%
3 9
-3% 8% -33% 100% 33%
The detached median price in March was $1,045,000, a 8% increase from February and 16% below March 2023.
$1,129,000 $965,000 3.0
The average sold price was $1,093,983, 3% below last month and down 10% to March 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
24
25
24
21
17
16
13
15
14
12
9
11
9
6
9
8
6
7
7
4
6
5
5
4
1
3
3
1
9
$1.25M
$1.25M
$1.14M $1.22M
$1.12M $1.10M $1.07M
$1.02M $965K $1.05M
$1.00M
$892K
$848K
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
5
5.0
4
3
2.0
2
1
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 0 n/a
1 5 5.0
2 4 2.0
0 1 n/a
0 2 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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. 47 ●
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