victoria core DETACHED - MARCH 2 0 2 4
MONTHS OF INVENTORY 2.6 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 7% VS 2023
▲ 21% VS 2023
▲ 1.4% VS 2023
▼ 3% VS 2023
There were 360 detached listings in the Victoria Core in March, 14% above February and 21% higher than March 2023. March detached home sales increased by 45% month-over-month, to 141, and were 1.4% above March 2023. The months of inventory for detached in the Victoria Core, at 2.6, reflected a sellers' market.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No. 139 297
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
141 360
7% -3% 19% 1.4% 21%
$1,346,180 $1,200,000 3.3 97 316
8% 0.8% -22% 45% 14%
The detached median price in March was $1,210,000, a 0.8% increase from February and 3% below March 2023.
$1,453,424 $1,210,000 2.6
$1,361,532 $1,250,000 2.1
The average sold price was $1,453,424, 8% above last month and up 7% to March 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
20
398
453
397
442
400
360
17
316
354
16
297
314
282
268
260
161
143
141
139
109
151
86
111
102
97
77
72
66
$1.25M $1.25M $1.30M $1.27M $1.25M $1.34M $1.30M
$1.20M $1.20M $1.20M $1.15M $1.20M $1.21M
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
60
15.5
50
40
30
6.6
20
4.2
3.2
3.0
3.0
10
1.3
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
0 1 n/a
5 5 1.0
27 34 1.3
46 49 1.1
21 63 3.0
13 39 3.0
10 32 3.2
10 42 4.2
5 33 6.6
4 62 15.5
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. 8 ●
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