saanich west CONDO - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 2.6 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 14% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 67% VS 2022
▼ 2% VS 2022
▼ 10% VS 2022
▼ 13% VS 2022
There were 26 condo listings in Saanich West in September, 7% below August and 13% lower than September 2022. September condo sales decreased by 9% month-over-month, to 10, and were 67% above September 2022. The months of inventory for condos in Saanich West, at 2.6, reflected a sellers' market. The condo median price in September was $456,250, a 6% decrease from August and 10% below September 2022. The average sold price was $492,040, 5% below last month; the average PSF sale price was $544, up 0.4% 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 26
$632 $504,000 $505,000 500% 6 30
-14% -2% -10% -48% 67% -13%
11 28
-9% -7%
$544 $492,040 $456,250 2.6
$542 $517,209 $485,000 2.5
0.4% -5% -6% 2%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
30
29
30
28
25
26
24
27
22
21
22
23
19
18
17
17
12
11
13
9
9
17
10
11
8
13
6
6
5
$535K
$515K
$505K
$488K
$490K
$480K
$485K
$456K
$456K
$433K
$420K
$413K
$401K
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.
15
4.0
4+ bdrms
2.7
10
3 bdrms
5
6
0.5
2 bdrms
21
0
4
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 1 n/a 2 1 0.5 6 16 2.7 2 8 4.0
<2 bdrms
5
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. 36 ●
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