victoria real estate board CONDO - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 5.2 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 1.3% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.0% VS 2022
▲ 3% VS 2022
▲ 49% VS 2022
▲ 11% VS 2022
There were 536 condo listings in the Victoria Real Estate Board in December, 21% below November and 49% higher than December 2022. December condo sales decreased by 17% month-over-month, to 104, and were 11% above December 2022. The months of inventory for condos in the Victoria Real Estate Board, at 5.2, reflected a balanced market. The condo median price in December was $525,000, a 1.0% increase from November and 3% above December 2022. The average sold price was $547,646, 9% below last month; the average PSF sale price was $650, down 5% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No. 125 681
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
104 536
$642 $547,563 $507,500 383% 94 360
1.3% 0% 3% 35% 11% 49%
-17% -21%
$650 $547,646 $525,000 5.2
$685 $601,232 $520,000 5.4
-5% -9% 1% -5%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
34
610
681
660
494
476
470
536
28
504
415
484
475
413
360
254
245
21
200
164
156
208
125
191
167
104
140
94
103
$570K
$560K
$555K
$555K
$559K
$550K
$548K
$550K
$543K
$525K
$525K
$520K
$508K
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.
200
13.0
4+ bdrms
12.5
150
1
7.9
3 bdrms
7.1
22
100
3.9
62
3.5
50
2 bdrms
2.7
293
0
41
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 55 215 3.9 22 157 7.1 7 55 7.9 2 25 12.5 1 13 13.0 0 23 n/a 2 7 3.5 15 41 2.7
<2 bdrms
221
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. 6 ●
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