victoria real estate board CONDO - NOVEMBER 2 0 2 4
MONTHS OF INVENTORY 3.9 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 6% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 1.5% VS 2023
▲ 4% VS 2023
▲ 9% VS 2023
▲ 50% VS 2023
There were 739 condo listings in the Victoria Real Estate Board in November, 13% below October and 9% higher than November 2023. November condo sales decreased by 3% month-over-month, to 188, and were 50% above November 2023. The months of inventory for condos in the Victoria Real Estate Board, at 3.9, reflected a sellers' market. The condo median price in November was $540,000, a 5% increase from October and 4% above November 2023. The average sold price was $610,440, 4% above last month; the average PSF sale price was $641, down 3% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 125 681
% Change
No. 193 848
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
188 739
-6% 1.5% 4% -28% 50% 9%
-3% 4% 5% -11% -3% -13%
$641 $610,440 $540,000 3.9
$685 $601,232 $520,000 5.4
$660 $589,552 $512,500 4.4
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
35
34
855
849
848
834
829
739
681
669
760
746
579
536
537
21
246
213
193
189
181
154
188
200
197
182
125
117
104
$559K
$550K
$545K
$544K
$547K
$542K
$540K
$540K
$530K
$525K
$525K
$520K
$513K
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.
350
11.5
300
4+ bdrms
250
5
200
7.3
7.3
3 bdrms
6.3
25
150
4.2
4.0
100
3.3
130
2.8
2 bdrms
463
50
0
53
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 102 333 3.3 44 183 4.2 12 87 7.3 2 23 11.5 4 29 7.3 4 25 6.3 2 8 4.0 18 51 2.8
<2 bdrms
251
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. 7 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online