victoria CONDO - AUGUST 2 0 2 4
MONTHS OF INVENTORY 4.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2023
▲ 53% VS 2023
▲ 14% VS 2023
▼ 5% VS 2023
There were 313 condo listings in Victoria in August, 11% below July and 53% higher than August 2023. August condo sales decreased by 24% month-over-month, to 67, and were 14% above August 2023. The months of inventory for condos in Victoria, at 4.7, reflected a sellers' market. The condo median price in August was $513,000, a 0.1% decrease from July and 5% below August 2023. The average sold price was $576,088, 0.9% above last month; the average PSF sale price was $679, down 7% 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 $576,088 $513,000 4.7 67 313
$708 $552,895 $542,000 3.5 59 205
-4% 4% -5% 34% 14% 53%
$727 $570,889 $513,450 4.0 88 353
-7% 0.9% -0.1% 16% -24% -11%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
41
366
317
356
353
301
313
260
253
272
272
254
31
238
205
90
88
72
69
49
44
67
59
34
64
58
51
44
16
$558K
$550K
$542K
$540K
$539K
$538K
$527K
$528K
$513K
$513K
$505K
$500K
$474K
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.
140
120
9.3
4+ bdrms
100
80
5.8
3 bdrms
5.3
9
60
3.7
3.5
40
37
2 bdrms
160
20
0
30
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 5 n/a 10 37 3.7 38 132 3.5 13 75 5.8 3 28 9.3 0 8 n/a 0 12 n/a 3 16 5.3
<2 bdrms
144
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. 45 ●
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