victoria core CONDO - JUNE 2 0 2 4
MONTHS OF INVENTORY 4.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 66% VS 2023
▼ 9% VS 2023
▼ 0.5% VS 2023
▼ 29% VS 2023
There were 580 condo listings in the Victoria Core in June, 3% below May and 66% higher than June 2023.
June condo sales decreased by 24% month-over-month, to 139, and were 29% below June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 197 349
% Change
No. 183 599
% Change
The months of inventory for condos in the Victoria Core, at 4.2, re(ected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
139 580
-0.5% 136% -29% 66%
3% -5% 1.7% 27% -24% -3%
The condo median price in June was $549,900, a 1.7% increase from May and 0.5% below June 2023. The average sold price was $596,078, 5% below last month; the average PSF sale price was $695, up 3% to last month.
$695 $596,078 $549,900 4.2
$716 $658,533 $552,500 1.8
$677 $628,894 $540,750 3.3
-3% -9%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
25
580
539
525
599
496
23
450
469
414
410
409
349
18
370
338
183
197
133
116
107
139
155
134
112
112
88
86
73
$572K
$569K
$563K
$558K
$557K
$553K
$549K
$550K
$545K
$543K
$541K
$520K
$500K
Jun-23
May-24
Jun-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.
250
24+
24+
4+ bdrms
200
150
1
3 bdrms
13
100
78
6.9
2 bdrms
50
5.0
330
4.3
3.7
3.6
3.4
0
60
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 1 5 5.0 17 57 3.4 65 238 3.7 40 143 3.6 10 69 6.9 4 17 4.3 1 25 25.0 1 26 26.0
<2 bdrms
237
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 July 8, 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. 10 ●
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