victoria core CONDO - MAY 2 0 2 4
MONTHS OF INVENTORY 3.3 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 75% VS 2023
▼ 5% VS 2023
▼ 1.8% VS 2023
▼ 7% VS 2023
There were 602 condo listings in the Victoria Core in May, 11% above April and 75% higher than May 2023.
May condo sales increased by 36% month-over-month, to 182, and were 7% below May 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 195 344
% Change
No. 134 542
% Change
The months of inventory for condos in the Victoria Core, at 3.3, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
182 602
-4% -5% -1.8% 87% -7% 75%
-1% 2% -3% -18% 36% 11%
The condo median price in May was $540,375, a 3% decrease from April and 1.8% below May 2023. The average sold price was $627,790, 2% above last month; the average PSF sale price was $677, down 1.0% to last month.
$677 $627,790 $540,375 3.3
$707 $664,107 $550,000 1.8
$684 $614,004 $557,000 4.0
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
24
602
542
23
525
496
450
470
349
414
410
410
344
370
17
338
197
195
182
133
116
107
155
134
112
112
88
86
73
$572K
$569K
$563K
$558K
$557K
$550K
$553K
$549K
$545K
$543K
$540K
$520K
$500K
May-23
Apr-24
May-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
10.3
4+ bdrms
200
150
4
6.5
3 bdrms
12
5.3
100
4.3
2.8
121
2.5
2.2
2 bdrms
50
338
0
57
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 4 n/a 25 54 2.2 92 233 2.5 39 168 4.3 13 69 5.3 6 17 2.8 3 31 10.3 4 26 6.5
<2 bdrms
252
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 June 10, 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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