victoria real estate board CONDO - JULY 2 0 2 4
MONTHS OF INVENTORY 4.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 2% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 71% VS 2023
▲ 9% VS 2023
▼ 7% VS 2023
▼ 5% VS 2023
There were 828 condo listings in the Victoria Real Estate Board in July, 3% below June and 71% higher than July 2023. July condo sales increased by 6% month-over-month, to 209, and were 9% above July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 191 484
% Change
No. 197 855
% Change
The months of inventory for condos in the Victoria Real Estate Board, at 4.0, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
209 828
-2% -7% -5% 56% 9% 71%
-5% -9% 6% -3%
The condo median price in July was $525,000, a 5% decrease from June and 5% below July 2023. The average sold price was $586,448, 0.3% below last month; the average PSF sale price was $687, down 1.1% to last month.
$687 $586,448 $525,000 4.0
$702 $633,210 $555,000 2.5
$695 $588,361 $550,000 4.3
-1.1% -0.3%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
30
828
855
849
681
669
660
746
610
25
579
484
536
537
504
248
17
181
156
154
209
191
125
200
197
167
141
117
104
$559K
$559K
$555K
$550K
$550K
$545K
$544K
$546K
$540K
$530K
$525K
$525K
$520K
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.
400
16.0
4+ bdrms
300
11.0
5
3 bdrms
200
19
6.8
5.0
4.8
121
4.6
100
2 bdrms
3.4
2.7
498
0
83
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 1 11 11.0 27 72 2.7 111 372 3.4 44 222 5.0 16 73 4.6 4 19 4.8 4 27 6.8 2 32 16.0
<2 bdrms
311
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. 7 ●
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