victoria CONDO - SEPTEMBER 2 0 2 4
MONTHS OF INVENTORY 6.0 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 38% VS 2023
▲ 14% VS 2023
▼ 10% VS 2023
▼ 5% VS 2023
There were 349 condo listings in Victoria in September, 11% above August and 38% higher than September 2023. September condo sales decreased by 13% month-over-month, to 58, and were 14% above September 2023. The months of inventory for condos in Victoria, at 6.0, re'ected a balanced market. The condo median price in September was $532,500, a 4% increase from August and 5% below September 2023. The average sold price was $602,778, 5% above last month; the average PSF sale price was $677, down 0.4% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$677 $602,778 $532,500 6.0 58 349
$701 $671,636 $558,000 5.0 51 253
-3% -10% -5% 21% 14% 38%
$679 $576,088 $513,000 4.7 67 314
-0.4% 5% 4% 28% -13% 11%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
41
349
366
317
356
353
301
314
260
253
272
272
254
31
238
90
88
72
69
49
44
58
34
51
67
64
58
44
16
$558K
$550K
$540K
$539K
$538K
$527K
$528K
$533K
$513K
$513K
$505K
$500K
$474K
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.
160
140
7.5
4+ bdrms
6.6
120
5.9
100
1
4.7
3 bdrms
80
9
3.3
3.0
60
36
40
2 bdrms
178
20
0
21
<$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 13 43 3.3 23 152 6.6 14 82 5.9 4 30 7.5 0 9 n/a 0 16 n/a 3 14 4.7
<2 bdrms
162
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. 45 ●
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