saanich east CONDO - NOVEMBER 2 0 2 3
MONTHS OF INVENTORY 7.8 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 20% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 40% VS 2022
▼ 17% VS 2022
▼ 14% VS 2022
▼ 44% VS 2022
There were 70 condo listings in Saanich East in November, 1.4% above October and 40% higher than November 2022. November condo sales decreased by 59% month-over-month, to 9, and were 44% below November 2022. The months of inventory for condos in Saanich East, at 7.8, reflected a balanced market. The condo median price in November was $455,000, a 18% decrease from October and 14% below November 2022. The average sold price was $501,811, 8% below last month; the average PSF sale price was $618, down 19% 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
$618 $501,811 $455,000 7.8 9 70
16 50
20% -17% -14% 149% -44% 40%
22 69
-19% -8% -18% 148% -59% 1.4%
$513 $601,494 $527,450 313%
$764 $543,173 $552,500 3.1
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
27
70
62
69
51
46
50
52
38
38
44
44
35
42
27
17
33
32
31
22
19
22
12
16
16
13
12
9
7
$563K
$553K
$545K
$545K
$533K
$538K
$527K
$528K
$523K
$514K
$492K
$480K
$455K
Nov-22
Oct-23
Nov-23
▶ 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.
25
10.0
4+ bdrms
9.0
20
15
3 bdrms
2
4.2
10
5
2 bdrms
5
51
0
4
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 1 10 10.0 6 25 4.2 2 18 9.0 0 9 n/a 0 2 n/a 0 2 n/a 0 4 n/a
<2 bdrms
17
Copyright © 2023 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 11, 2023. 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. 33 ●
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