esquimalt CONDO - NOVEMBER 2 0 2 4
MONTHS OF INVENTORY 7.3 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▼ 4% VS 2023
▼ 14% VS 2023
▼ 3% VS 2023
▼ 20% VS 2023
There were 29 condo listings in Esquimalt in November, 9% below October and 3% lower than November 2023. November condo sales decreased by 69% month-over-month, to 4, and were 20% below November 2023. The months of inventory for condos in Esquimalt, at 7.3, reflected a balanced market. The condo median price in November was $437,500, a 13% decrease from October and 14% below November 2023. The average sold price was $495,000, 2.0% below last month; the average PSF sale price was $578, down 6% 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
$578 $495,000 $437,500 7.3 4 29
$602 $515,000 $510,000 6.0 5 30
-4% -4% -14% 21% -20% -3%
13 32
-6% -2% -13% 195% -69% -9%
$618 $505,069 $502,500 2.5
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
46
33
41
43
37
36
30
35
32
32
29
28
24
23
21
16
20
13
12
11
10
10
9
3
3
8
5
2
4
$638K
$595K
$593K
$580K
$568K
$550K
$525K
$510K
$503K
$500K
$495K
$438K
$353K
Nov-23
Oct-24
Nov-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.
14
14.0
4+ bdrms
12
10
8
3 bdrms
8.0
3
6
4
2
2 bdrms
16
2
1.0
0
2
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 1 14 14.0 1 8 8.0 0 2 n/a 0 2 n/a 0 1 n/a 2 2 1.0
<2 bdrms
10
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 December 9, 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. 24 ●
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