peninsula CONDO - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 3.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 3% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 7% VS 2022
▲ 48% VS 2022
▲ 67% VS 2022
▼ 12% VS 2022
There were 37 condo listings in the Peninsula in December, 16% below November and 48% higher than December 2022. December condo sales decreased by 9% month-over-month, to 10, and were 67% above December 2022. The months of inventory for condos in the Peninsula, at 3.7, reflected a sellers' market. The condo median price in December was $577,500, a 8% decrease from November and 12% below December 2022. The average sold price was $693,400, 4% above last month; the average PSF sale price was $722, up 5% 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
10 37
$704 $649,317 $654,950 417% 6 25
-12% -11% 67% 48%
11 44
-8% -7% -9% -16%
$722 $693,400 $577,500 3.7
$689 $666,445 $625,000 4.0
5% 4%
3% 7%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
42
24
44
37
35
33
32
37
34
31
28
17 27
20
25
16
18
23 18
14
13
11
16
14
13
10
12
8
6
$784K
$776K
$745K
$655K
$639K
$625K
$602K
$595K
$578K
$585K
$582K
$578K
$560K
Dec-22
Nov-23
Dec-23
▶ 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.
17.0
15
4+ bdrms
10
3 bdrms
1
5
8
4.0
2 bdrms
26
2.2
0.5
0
2
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 6 13 2.2 1 17 17.0 1 4 4.0 2 1 0.5 0 1 n/a 0 1 n/a
<2 bdrms
10
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 January 22, 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. 15 ●
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