victoria core CONDO - NOVEMBER 2 0 2 3
MONTHS OF INVENTORY 9.2 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 6% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 49% VS 2022
▼ 3% VS 2022
▼ 9% VS 2022
▼ 38% VS 2022
There were 543 condo listings in the Victoria Core in November, 9% above October and 49% higher than November 2022. November condo sales decreased by 45% month-over-month, to 59, and were 38% below November 2022. The months of inventory for condos in the Victoria Core, at 9.2, reflected a buyers' market. The condo median price in November was $510,000, a 7% decrease from October and 9% below November 2022. The average sold price was $629,807, 3% below last month; the average PSF sale price was $715, down 4% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No. 107 496
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$715 $629,807 $510,000 9.2 59 543
$677 $647,454 $560,000 384% 95 365
140% -38% 49%
-4% -3% -7% 99% -45% 9%
$744 $647,194 $549,000 4.6
6% -3% -9%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
35
543
450
496
31
365
349
344
342
315
370
344
338
311
287
197
195
157
20
129
116
107
155
148
95
112
59
70
69
$569K
$560K
$565K
$563K
$553K
$545K
$550K
$545K
$549K
$543K
$520K
$510K
$503K
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.
200
24+
4+ bdrms
1
150
15.0
3 bdrms
13.5
15
100
11.3
9.0
7.9
35
50
2 bdrms
5.0
285
0
24
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 2 n/a 10 50 5.0 26 206 7.9 14 158 11.3 4 54 13.5 2 30 15.0 2 18 9.0 1 25 25.0
<2 bdrms
242
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. 9 ●
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