victoria real estate board CONDO - APRIL 2 0 2 4
MONTHS OF INVENTORY 3.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.7% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 56% VS 2023
▼ 4% VS 2023
▼ 0.3% VS 2023
▼ 3% VS 2023
There were 744 condo listings in the Victoria Real Estate Board in April, 12% above March and 56% higher than April 2023. April condo sales increased by 10% month-over-month, to 200, and were 3% below April 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 207 476
% Change
No. 181 667
% Change
The months of inventory for condos in the Victoria Real Estate Board, at 3.7, re(ected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
200 744
-1.7% -4% -0.3% 62% -3% 56%
-2% -5% -3% 0.9% 10% 12%
The condo median price in April was $543,500, a 3% decrease from March and 0.3% below April 2023. The average sold price was $603,827, 5% below last month; the average PSF sale price was $671, down 2.0% to last month.
$671 $603,827 $543,500 3.7
$682 $630,606 $545,000 2.3
$684 $632,459 $559,000 3.7
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
24
24
744
681
667
660
610
21
494
578
536
536
476
504
484
475
254
245
181
207
156
154
200
125
191
167
141
117
104
$560K
$559K
$559K
$555K
$555K
$550K
$545K
$545K
$544K
$540K
$530K
$525K
$520K
Apr-23
Mar-24
Apr-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.
300
10.5
4+ bdrms
250
7.5
200
7.0
5
3 bdrms
21
150
5.0
4.6
3.8
100
2.9
136
2.8
2 bdrms
432
50
0
59
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 1 5 5.0 21 58 2.8 108 313 2.9 47 214 4.6 12 84 7.0 5 19 3.8 2 21 10.5 4 30 7.5
<2 bdrms
291
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 May 8, 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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