victoria west CONDO - AUGUST 2 0 2 4
MONTHS OF INVENTORY 4.1 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 10% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 41% VS 2023
▼ 42% VS 2023
▼ 12% VS 2023
▼ 23% VS 2023
There were 41 condo listings in Victoria West in August, 20% below July and 41% higher than August 2023. August condo sales decreased by 33% month-over-month, to 10, and were 23% below August 2023. The months of inventory for condos in Victoria West, at 4.1, reflected a sellers' market. The condo median price in August was $590,000, a 17% decrease from July and 12% below August 2023. The average sold price was $610,600, 17% below last month; the average PSF sale price was $824, up 4% 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
10 41
13 29
-10% -42% -12% 84% -23% 41%
15 51
4% -17% -17% 21% -33% -20%
$824 $610,600 $590,000 4.1
$918 $1,047,615 $670,000 2.2
$795 $733,367 $715,000 3.4
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
62
49
49
56
53
51
49
54
43
41
40
35
34
33
29
17
17
15
15
12
13
14
10
11
10
10
8
6
14
$894K
$835K
$780K
$723K
$718K
$715K
$693K
$700K
$690K
$680K
$670K
$608K
$590K
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.
12
7.0
4+ bdrms
10
8
3 bdrms
2
6
3.0
4
2.0
3
2 bdrms
23
2
0
7
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 6 12 2.0 3 9 3.0 1 7 7.0 0 6 n/a 0 4 n/a 0 3 n/a
<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. 46 ●
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