victoria real estate board CONDO - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 3.9 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 5% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2022
▲ 2% VS 2022
▲ 25% VS 2022
▲ 17% VS 2022
There were 610 condo listings in the Victoria Real Estate Board in September, 21% above August and 25% higher than September 2022. September condo sales decreased by 7% month-over-month, to 156, and were 17% above September 2022. The months of inventory for condos in the Victoria Real Estate Board, at 3.9, reflected a sellers' market. The condo median price in September was $558,500, a 1.5% increase from August and 2% above September 2022. The average sold price was $655,056, 6% above last month; the average PSF sale price was $699, up 0.9% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 133 488
% Change
No. 167 504
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
156 610
17% 25%
0.9% 6% 1.5% 30% -7% 21%
$699 $655,056 $558,500 3.9
$665 $620,981 $545,000 367%
5% 5% 2% 7%
$693 $616,591 $550,000 3.0
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
21
610
494
487
19
476
470
460
488
504
415
18
484
475
413
360
254
245
200
164
155
208
129
156
191
133
167
103
94
$570K
$560K
$555K
$555K
$559K
$550K
$548K
$550K
$545K
$545K
$537K
$525K
$508K
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.
250
6.8
4+ bdrms
6.4
1
6.0
200
5.2
6
150
4.0
3 bdrms
20
3.2
2.8
100
2.3
86
2 bdrms
50
339
0
64
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 80 253 3.2 36 188 5.2 9 61 6.8 9 21 2.3 3 12 4.0 5 32 6.4 1 6 6.0 13 37 2.8
<2 bdrms
250
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. 6 ●
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