victoria core CONDO - JANUARY 2 0 2 4
MONTHS OF INVENTORY 4.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 2% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2023
▲ 7% VS 2023
▲ 30% VS 2023
▲ 28% VS 2023
There were 410 condo listings in the Victoria Core in January, 1.0% below December and 30% higher than January 2023. January condo sales increased by 21% month-over-month, to 88, and were 28% above January 2023. The months of inventory for condos in the Victoria Core, at 4.7, reflected a sellers' market. The condo median price in January was $557,500, a 12% increase from December and 7% above January 2023. The average sold price was $615,673, 15% above last month; the average PSF sale price was $679, up 3% 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
$679 $615,673 $557,500 4.7 88 410
$694 $591,378 $520,000 457% 69 315
-2% 4% 7% 2% 28% 30%
$656 $535,640 $499,888 5.7 73 414
3% 15% 12% -18% 21% -1%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
496
525
47
450
410
349
414
344
342
370
36
315
344
338
311
33
195
197
157
129
116
107
155
148
88
112
69
86
73
$569K
$565K
$563K
$553K
$558K
$545K
$550K
$545K
$549K
$543K
$520K
$520K
$500K
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.
13.0
4+ bdrms
150
10.5
3
100
3 bdrms
10
6.0
5.2
4.7
4.4
50
55
2 bdrms
2.4
222
0.5
0
30
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 39 172 4.4 20 103 5.2 7 42 6.0 2 26 13.0 3 14 4.7 2 21 10.5 2 1 0.5 13 31 2.4
<2 bdrms
178
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. 9 ●
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