saanich east CONDO - JANUARY 2 0 2 4
MONTHS OF INVENTORY 2.6 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 33% VS 2023
▼ 11% VS 2023
▼ 12% VS 2023
0.0% VS 2023
There were 42 condo listings in Saanich East in January, 13% below December and no change to January 2023.
January condo sales increased by 7% month-over-month, to 16, and were 33% above January 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Saanich East, at 2.6, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
16 42
12 42
-3% -11% -12% -25% 33% 0%
15 48
-7% 8% -8% -18% 7% -13%
The condo median price in January was $460,000, a 8% decrease from December and 12% below January 2023. The average sold price was $566,906, 8% above last month; the average PSF sale price was $592, down 7% to last month.
$592 $566,906 $460,000 2.6
$612 $638,375 $522,500 350%
$639 $523,333 $499,888 3.2
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
40
62
70
69
36
51
46
52
48
38
38
42
42
44
35
27
33
25
32
31
22
19
15
22
16
12
16
13
13
$563K
$553K
$545K
$545K
$533K
$538K
$528K
$523K
$514K
$500K
$492K
$456K
$460K
Jan-23
Dec-23
Jan-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.
12
10.0
4+ bdrms
10
8
6.0
6.0
3 bdrms
6
4
11
2.0
2 bdrms
32
2
1.0
0
5
<$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 1 6 6.0 0 3 n/a 1 2 2.0 0 3 n/a 1 6 6.0 12 12 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 February 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. 33 ●
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