oak bay CONDO - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 2.4 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 16% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 45% VS 2022
▲ 69% VS 2022
▲ 25% VS 2022
▼ 14% VS 2022
There were 12 condo listings in Oak Bay in September, 20% above August and 14% lower than September 2022. September condo sales increased by 150% month-over-month, to 5, and were 25% above September 2022. The months of inventory for condos in Oak Bay, at 2.4, reflected a sellers' market. The condo median price in September was $910,000, a 95% increase from August and 69% above September 2022. The average sold price was $817,380, 75% above last month; the average PSF sale price was $637, up 33% 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
$637 $817,380 $910,000 2.4 5 12
$548 $563,700 $540,000 350% 4 14
16% 45% 69% -31% 25% -14%
$478 $467,500 $467,500 5.0 2 10
33% 75% 95% -52% 150% 20%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
14
65
14
12
12
10
10
10
11
10
10
9
8
7
7
8
6
6
7
5
6
6
4
4
3
30
2
2
$1.20M
$975K
$969K
$910K
$800K
$809K
$790K
11
$725K
$648K
$622K
$564K
$540K
$468K
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.
5
5.0
4+ bdrms
4
3
3 bdrms
2.0
2
1.0
5
2 bdrms
0.5
1
8
0
<$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 1 5 5.0 1 2 2.0 1 1 1.0 2 1 0.5
<2 bdrms
4
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. 30 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online