victoria core CONDO - SEPTEMBER 2 0 2 4
MONTHS OF INVENTORY 4.5 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 23% VS 2023
▲ 6% VS 2023
▼ 8% VS 2023
▼ 2% VS 2023
There were 555 condo listings in the Victoria Core in September, 8% above August and 23% higher than September 2023. September condo sales decreased by 1.6% month-over-month, to 123, and were 6% above September 2023. The months of inventory for condos in the Victoria Core, at 4.5, re(ected a sellers' market. The condo median price in September was $550,000, a 2% increase from August and 2% below September 2023. The average sold price was $627,638, 5% above last month; the average PSF sale price was $688, down 0.4% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 116 450
% Change
No. 125 514
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
123 555
-3% -8% -2% 16% 6% 23%
-0.4% 5% 2% 10% -1.6% 8%
$688 $627,638 $550,000 4.5
$713 $682,955 $562,500 3.9
$691 $595,128 $538,000 4.1
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
600
574
36
540
525
555
580
496
514
450
469
28
414
410
409
183
149
133
107
19
123
116
138
134
125
112
88
86
73
$572K
$563K
$558K
$557K
$549K
$550K
$550K
$543K
$541K
$538K
$520K
$525K
$500K
Sep-23
Aug-24
Sep-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.
250
24+
4+ bdrms
200
150
1
3 bdrms
22
100
79
6.5
2 bdrms
5.8
50
5.3
316
4.3
3.9
3.4
3.0
0
43
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 1 3 3.0 17 57 3.4 60 232 3.9 26 137 5.3 10 58 5.8 4 17 4.3 1 25 25.0 4 26 6.5
<2 bdrms
217
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 October 9, 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. 10 ●
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