saanich east CONDO - AUGUST 2 0 2 4
MONTHS OF INVENTORY 3.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 24% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 21% VS 2023
▲ 1.5% VS 2023
▲ 27% VS 2023
▲ 69% VS 2023
There were 66 condo listings in Saanich East in August, 1.5% above July and 27% higher than August 2023.
August condo sales increased by 10% month-over-month, to 22, and were 69% above August 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Saanich East, at 3.0, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
22 66
13 52
24% 21% 1.5% -25% 69% 27%
20 65
18% 24% 13% -8% 10% 1.5%
The condo median price in August was $552,950, a 13% increase from July and 1.5% above August 2023. The average sold price was $627,859, 24% above last month; the average PSF sale price was $710, up 18% to last month.
$710 $627,859 $552,950 3.0
$572 $517,238 $545,000 4.0
$602 $505,070 $490,750 3.3
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
28
65
65
62
66
70
69
69
67
25
60
52
52
48
35
42
31
19
22
19
22
25
16
16
15
20
13
13
13
$605K
$575K
$553K
$553K
$545K
$538K
$540K
$540K
$520K
$500K
$491K
$460K
$456K
Aug-23
Jul-24
Aug-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.
30
4.7
4+ bdrms
25
4.0
20
3 bdrms
2.5
2.5
2.2
1
15
10
14
2 bdrms
49
5
0
8
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 3 n/a 0 4 n/a 1 4 4.0 2 5 2.5 14 31 2.2 3 14 4.7 2 5 2.5
<2 bdrms
16
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 September 9, 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. 34 ●
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