victoria core CONDO - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 3.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2023
▲ 32% VS 2023
▼ 0.5% VS 2023
▼ 13% VS 2023
There were 409 condo listings in the Victoria Core in February, 0.2% below January and 32% higher than February 2023. February condo sales increased by 27% month-over-month, to 112, and were 13% below February 2023. The months of inventory for condos in the Victoria Core, at 3.7, reflected a sellers' market. The condo median price in February was $542,500, a 3% decrease from January and 0.5% below February 2023. The average sold price was $608,562, 1.1% below last month; the average PSF sale price was $685, up 1.0% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 129 311
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
112 409
4% 4% -0.5% 51% -13% 32%
$679 $615,619 $557,500 4.7 88 410
1% -1.1% -3% -22% 27% -0.2%
$685 $608,562 $542,500 3.7
$661 $587,777 $545,000 241%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
496
525
47
450
409
349
414
344
410
342
370
311
344
338
31
195
197
157
116
107
129
155
148
112
112
88
86
20
73
$569K
$565K
$563K
$553K
$558K
$545K
$550K
$545K
$549K
$543K
$543K
$520K
$500K
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.
150
21.0
4+ bdrms
2
100
3 bdrms
14
50
69
5.8
5.7
2 bdrms
4.8
4.0
222
3.3
1.6
0
41
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 2 n/a 19 31 1.6 49 164 3.3 26 103 4.0 10 48 4.8 4 23 5.8 3 17 5.7 1 21 21.0
<2 bdrms
173
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. 9 ●
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