esquimalt CONDO - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 9.0 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 27% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2023
▲ 16% VS 2023
▼ 27% VS 2023
▼ 77% VS 2023
There were 27 condo listings in Esquimalt in February, 17% above January and 27% lower than February 2023. February condo sales increased by 50% month-over-month, to 3, and were 77% below February 2023. The months of inventory for condos in Esquimalt, at 9.0, reflected a buyers' market. The condo median price in February was $525,000, a 49% increase from January and 16% above February 2023. The average sold price was $490,667, 39% above last month; the average PSF sale price was $551, up 60% 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
$551 $490,667 $525,000 9.0 3 27
13 37
-27% 4% 16% 216% -77% -27%
$344 $352,500 $352,500 11.5 2 23
60% 39% 49% -22% 50% 17%
$751 $473,662 $451,000 285%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
129
37
32
30
30
29
27
28
28
26
25
23
23
22
15
14
13
10
8
12
10
3
2
6
3
5
5
53
$639K
$617K
$560K
$542K
$538K
$525K
$510K
$510K
$500K
$493K
$451K
$400K
20
$353K
Feb-23
Jan-24
Feb-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.
14
4.7
4+ bdrms
12
10
8
3 bdrms
1
6
4
2
2 bdrms
13
2
0
1
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 3 14 4.7 0 9 n/a 0 2 n/a 0 1 n/a 0 1 n/a
<2 bdrms
13
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 March 7, 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. 23 ●
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