view royal CONDO - JANUARY 2 0 2 4
MONTHS OF INVENTORY 3.1 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 15% VS 2023
▲ 13% VS 2023
▲ 69% VS 2023
▲ 600% VS 2023
There were 22 condo listings in View Royal in January, 15% below December and 69% higher than January 2023. January condo sales increased by 17% month-over-month, to 7, and were 600% above January 2023. The months of inventory for condos in View Royal, at 3.1, reflected a sellers' market. The condo median price in January was $590,000, a 13% decrease from December and 13% above January 2023. The average sold price was $597,571, 2.0% below last month; the average PSF sale price was $700, down 6% 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
$700 $597,571 $590,000 3.1 7 22
$731 $519,900 $519,900 1300% 1 13
-76% 600% 69%
$746 $609,483 $675,000 4.3 6 26
-13% -27% 17% -15%
-4% 15% 13%
-6% -2%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
49
27
26
47
29
28
20
20
22
18
14
13
10
13
9
8
6
6
9
7
5
8
7
1
4
4
1
3
$675K
$650K
$635K
$594K
$590K
$585K
$580K
$565K
$561K
$552K
$520K
$507K
$499K
0
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.
10
3.3
4+ bdrms
8
2.5
1
6
3 bdrms
4
5
2 bdrms
2
13
0
1
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 4 10 2.5 3 10 3.3 0 2 n/a
<2 bdrms
9
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. 48 ●
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