saanich east CONDO - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 3.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 23% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2022
▲ 4% VS 2022
▲ 9% VS 2022
▲ 114% VS 2022
There were 48 condo listings in Saanich East in December, 31% below November and 9% higher than December 2022. December condo sales increased by 15% month-over-month, to 15, and were 114% above December 2022. The months of inventory for condos in Saanich East, at 3.2, reflected a sellers' market. The condo median price in December was $499,888, a 10% increase from November and 4% above December 2022. The average sold price was $523,333, 0.1% below last month; the average PSF sale price was $639, up 9% 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
15 48
$522 $502,571 $480,000 629% 7 44
-49% 114% 9%
13 70
9% -0.1% 10% -41% 15% -31%
$639 $523,333 $499,888 3.2
$585 $523,631 $455,900 5.4
23% 4% 4%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
39
62
70
69
51
46
52
44
48
38
38
44
35
42
27
25
25
33
32
31
22
19
22
12
15
16
13
13
7
$563K
$553K
$545K
$545K
$533K
$538K
$528K
$523K
$514K
$500K
$492K
$480K
$456K
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.
13.0
15
4+ bdrms
1
10
3 bdrms
5
8
3.5
2 bdrms
2.5
36
1.7
0
6
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 1 13 13.0 2 5 2.5 0 1 n/a 0 3 n/a 0 2 n/a 2 7 3.5 10 17 1.7
<2 bdrms
12
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. 33 ●
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