victoria real estate board TOWNHOME - MAY 2 0 2 4
MONTHS OF INVENTORY 2.8 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 7% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.7% VS 2023
▲ 56% VS 2023
▲ 8% VS 2023
▼ 3% VS 2023
There were 264 townhome listings in the Victoria Real Estate Board in May, 10% above April and 56% higher than May 2023. May townhome sales increased by 11% month-over-month, to 94, and were 8% above May 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for townhomes in the Victoria Real Estate Board, at 2.8, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$509 $826,582 $804,787 2.8 94 264
$547 $856,195 $799,000 1.9 87 169
-7% -3% 0.7% 45% 8% 56%
$537 $829,259 $770,000 2.8 85 240
11% 10%
The townhome median price in May was $804,787, a 5% increase from April and 0.7% above May 2023. The average sold price was $826,582, 0.3% below last month; the average PSF sale price was $509, down 5% to last month.
-5% -0.3% 5% -0.5%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
28
264
27
220
210
240
205
203
175
198
169
183
176
163
163
88
94
72
87
16
65
52
85
75
71
67
43
37
35
$845K
$799K
$804K
$805K
$790K
$790K
$785K
$770K
$750K
$755K
$750K
$720K
$694K
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.
80
17
11.0
4+ bdrms
70
26
10.0
60
50
51
3 bdrms
133
40
30
3.6
3.1
25
2.7
2.6
2 bdrms
2.2
20
1.9
99
10
0
1
<2 bdrms
<$600K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 6 16 2.7 19 42 2.2 22 79 3.6 22 41 1.9 10 31 3.1 13 34 2.6 1 10 10.0 1 11 11.0
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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. 6 ●
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