victoria real estate board CONDO - AUGUST 2 0 2 4
MONTHS OF INVENTORY 4.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.0% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 51% VS 2023
▲ 9% VS 2023
▼ 3% VS 2023
▼ 1.4% VS 2023
There were 760 condo listings in the Victoria Real Estate Board in August, 8% below July and 51% higher than August 2023. August condo sales decreased by 15% month-over-month, to 182, and were 9% above August 2023. The months of inventory for condos in the Victoria Real Estate Board, at 4.2, reflected a sellers' market. The condo median price in August was $542,250, a 3% increase from July and 1.4% below August 2023. The average sold price was $597,694, 2.0% above last month; the average PSF sale price was $686, down 0.2% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 167 504
% Change
No. 213 829
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
182 760
-1% -3% -1.4% 38% 9% 51%
-0.2% 2% 3% 7% -15% -8%
$686 $597,694 $542,250 4.2
$693 $616,591 $550,000 3.0
$687 $586,200 $525,000 3.9
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
31
855
849
30
829
760
681
669
660
746
610
579
504
536
537
19
248
213
181
156
154
182
125
167
200
197
141
117
104
$559K
$559K
$550K
$550K
$545K
$544K
$546K
$542K
$540K
$530K
$525K
$525K
$520K
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.
350
24.0
300
4+ bdrms
250
2
200
3 bdrms
31
150
100
108
2 bdrms
5.7
5.2
4.8
459
3.9
50
3.1
0
72
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 11 n/a 17 66 3.9 107 336 3.1 39 204 5.2 12 68 5.7 0 22 n/a 1 24 24.0 6 29 4.8
<2 bdrms
270
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. 7 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online