peninsula CONDO - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 2.6 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 5% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▼ 16% VS 2022
▼ 3% VS 2022
▼ 13% VS 2022
0.0% VS 2022
There were 34 condo listings in the Peninsula in September, 26% above August and no change to September 2022. September condo sales decreased by 24% month-over-month, to 13, and were 13% below September 2022. The months of inventory for condos in the Peninsula, at 2.6, reflected a sellers' market. The condo median price in September was $560,000, a 25% decrease from August and 3% below September 2022. The average sold price was $650,207, 26% below last month; the average PSF sale price was $670, down 16% 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
13 34
15 34
5% -16% -3% 15% -13% 0%
17 27
-16% -26% -25% 65% -24% 26%
$670 $650,207 $560,000 2.6
$638 $776,747 $575,000 227%
$794 $880,729 $745,000 1.6
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
35
16
34
34
33
37
32
15
29
31
24 24
28
27
25
12
20
23
18
17
14
18
16
13
15
14
13
9
6
$784K
$776K
$745K
$655K
$639K
$595K
$581K
$578K
$585K
$582K
$575K
$560K
$544K
Sep-22
Aug-23
Sep-23
▶ 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.
16
14
3.0
4+ bdrms
12
2.0
10
1
1.7
3 bdrms
8
2
6
7
4
2 bdrms
20
2
0
5
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 1 0 n/a 6 10 1.7 5 15 3.0 0 5 n/a 0 1 n/a 0 1 n/a 1 2 2.0
<2 bdrms
12
Copyright © 2023 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 October 13, 2023. 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. 15 ●
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