saanich west CONDO - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 2.1 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.2% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 60% VS 2022
▼ 7% VS 2022
▼ 5% VS 2022
0.0% VS 2022
There were 17 condo listings in Saanich West in December, 45% below November and no change to December 2022. December condo sales increased by 33% month-over-month, to 8, and were 60% above December 2022. The months of inventory for condos in Saanich West, at 2.1, reflected a sellers' market. The condo median price in December was $412,500, a 19% decrease from November and 5% below December 2022. The average sold price was $465,550, 13% below last month; the average PSF sale price was $544, up 1.0% 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
$544 $465,550 $412,500 2.1 8 17
$551 $501,200 $432,500 340% 5 17
-1.2% -7% -5% -38% 60% 0%
$539 $533,733 $509,950 5.2 6 31
1% -13% -19% -59% 33% -45%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
30
37
31
31
27
25
21
25
22
23
22
17
19
18
25
17
17
24
11
13
9
9
11
10
8
8
5
6
6
$535K
$535K
$515K
$510K
$490K
$480K
$485K
$456K
$456K
$433K
$413K
$413K
$401K
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.
4.5
8
4+ bdrms
6
3 bdrms
4
1.5
1.0
4
2 bdrms
2
14
0
4
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 1 n/a 4 4 1.0 2 9 4.5 2 3 1.5
<2 bdrms
3
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. 36 ●
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