victoria real estate board DETACHED - MARCH 2 0 2 4
MONTHS OF INVENTORY 3.6 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2023
▲ 7% VS 2023
▲ 28% VS 2023
▼ 3% VS 2023
There were 1,005 detached listings in the Victoria Real Estate Board in March, 15% above February and 28% higher than March 2023. March detached home sales increased by 32% month-over-month, to 281, and were 3% below March 2023. The months of inventory for detached in the Victoria Real Estate Board, at 3.6, reflected a sellers' market.
THIS MONTH No. $1,307,361 $1,150,000 3.6 281 1,005
PREVIOUS MONTH No.
PREVIOUS YEAR
No. 289 784
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
6% 7% 32% -3% 28%
213 876
4% 0% -13% 32% 15%
The detached median price in March was $1,150,000, a 0% change from February and 7% above March 2023.
$1,255,621 $1,150,000 4.1
$1,229,229 $1,075,110 2.7
The average sold price was $1,307,361, 4% above last month and up 6% to March 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,227
24
1,113
1,073
1,186
1,108
1,005
21
1,019
918
19
876
784
816
797
776
372
258
227
289
281
185
318
311
272
213
184
162
137
$1.20M $1.19M $1.19M $1.19M $1.19M $1.21M
$1.15M $1.15M
$1.12M $1.15M
$1.08M
$1.08M $1.06M
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
23.6
150
100
11.6
50
6.0
5.9
4.8
4.1
2.0
2.0
1.9
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 18 n/a
22 44 2.0
74 143 1.9
81 164 2.0
41 170 4.1
22 105 4.8
15 89 5.9
16 96 6.0
5 58 11.6
5 118 23.6
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. 5 ●
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