victoria real estate board TOWNHOME - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 3.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 10% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2023
▲ 3% VS 2023
▲ 26% VS 2023
▲ 23% VS 2023
There were 265 townhome listings in the Victoria Real Estate Board in February, 12% above January and 26% higher than February 2023. February townhome sales increased by 67% month-over-month, to 87, and were 23% above February 2023. The months of inventory for townhomes in the Victoria Real Estate Board, at 3.0, reflected a sellers' market. The townhome median price in February was $819,000, a 10% increase from January and 3% above February 2023. The average sold price was $895,875, 8% above last month; the average PSF sale price was $555, up 13% 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
$555 $895,875 $819,000 3.0 87 265
$506 $852,882 $799,000 297% 71 211
10% 5% 3% 2% 23% 26%
$490 $832,454 $742,000 4.6 52 237
13% 8% 10% -33% 67% 12%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
46
293
253
286
265
282
232
256
216
237
237
211
224
212
122
112
89
79
87
67
99
71
90
84
21
21
56
52
52
$847K
$840K
$825K
$819K
$799K
$790K
$780K
$777K
$775K
$760K
$755K
$742K
$693K
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.
70
11
60
7.3
4+ bdrms
57
50
5.7
47
40
3 bdrms
3.9
142
30
2.9
2.8
2.4
27
20
1.4
2 bdrms
1.3
61
10
0
2
<2 bdrms
<$600K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES
5
5 7 1.4
13 31 2.4
23 66 2.9
17 48 2.8
6 34 5.7
12 47 3.9
8 10 1.3
3 22 7.3
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. 5 ●
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