victoria CONDO - JANUARY 2 0 2 4
MONTHS OF INVENTORY 5.9 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 11% VS 2023
▲ 5% VS 2023
▲ 60% VS 2023
▲ 22% VS 2023
There were 260 condo listings in Victoria in January, 2% above December and 60% higher than January 2023. January condo sales increased by 29% month-over-month, to 44, and were 22% above January 2023. The months of inventory for condos in Victoria, at 5.9, reflected a balanced market. The condo median price in January was $550,000, a 16% increase from December and 5% above January 2023. The average sold price was $622,757, 27% above last month; the average PSF sale price was $720, up 13% 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
$720 $622,757 $550,000 5.9 44 260
$743 $559,769 $522,500 453% 36 163
-3% 11% 5% 31% 22% 60%
$637 $490,735 $473,500 7.5 34 254
13% 27% 16% -21% 29% 2%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
301
44
253
260
272
254
206
205
201
186
205
194
163
30
164
102
100
84
84
66
49
44
71
44
59
36
51
18
34
$570K
$553K
$558K
$550K
$550K
$543K
$539K
$542K
$540K
$536K
$523K
$505K
$474K
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.
120
14.0
4+ bdrms
100
80
1
8.5
8.5
3 bdrms
10
60
7.0
6.0
40
4.5
23
2 bdrms
2.9
120
20
0.5
0
20
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 14 119 8.5 13 59 4.5 3 21 7.0 1 14 14.0 1 6 6.0 2 17 8.5 2 1 0.5 8 23 2.9
<2 bdrms
130
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. 44 ●
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