victoria CONDO - JULY 2 0 2 4
MONTHS OF INVENTORY 4.1 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 2% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 81% VS 2023
▲ 1.2% VS 2023
▼ 11% VS 2023
▼ 8% VS 2023
There were 352 condo listings in Victoria in July, 4% below June and 81% higher than July 2023.
July condo sales increased by 33% month-over-month, to 85, and were 1.2% above July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Victoria, at 4.1, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$729 $571,473 $507,000 4.1 85 352
$746 $641,235 $552,500 2.3 84 194
-2% -11% -8% 79% 1.2% 81%
$718 $571,019 $527,500 5.7 64 366
1.6% 0.1% -4% -28% 33% -4%
The condo median price in July was $507,000, a 4% decrease from June and 8% below July 2023. The average sold price was $571,473, 0.1% above last month; the average PSF sale price was $729, up 1.6% to last month.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
31
352
366
317
356
301
260
253
25
272
272
254
238
194
205
21
90
72
69
84
85
49
44
34
64
59
58
51
44
$558K
$553K
$550K
$542K
$540K
$539K
$538K
$527K
$528K
$507K
$505K
$500K
$474K
Jul-23
Jun-24
Jul-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.
160
140
19.0
4+ bdrms
120
100
1
3 bdrms
80
6
60
8.0
40
40
5.2
2 bdrms
4.0
3.5
185
2.6
20
0
44
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 5 n/a 17 44 2.6 42 148 3.5 16 83 5.2 8 32 4.0 1 8 8.0 0 13 n/a 1 19 19.0
<2 bdrms
161
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 August 6, 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. 45 ●
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