peninsula CONDO - JUNE 2 0 2 4
MONTHS OF INVENTORY 3.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 9% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 76% VS 2023
▼ 30% VS 2023
▼ 23% VS 2023
▼ 10% VS 2023
There were 58 condo listings in the Peninsula in June, 12% below May and 76% higher than June 2023.
June condo sales decreased by 18% month-over-month, to 18, and were 10% below June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in the Peninsula, at 3.2, re'ected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
18 58
20 33
-9% -30% -23% 95% -10% 76%
22 66
22% 4% 0.8% 7% -18% -12%
The condo median price in June was $594,500, a 0.8% increase from May and 23% below June 2023. The average sold price was $632,717, 4% above last month; the average PSF sale price was $757, up 22% to last month.
$757 $632,717 $594,500 3.2
$830 $908,509 $776,250 1.7
$621 $606,877 $590,000 3.0
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
66
24
58
57
46
44
42
49
17
17
33
37
36
34
22
28
27
20
18
13
13
11
17
9
16
13
10
8
7
$776K
$745K
$625K
$625K
$602K
$595K
$590K
$595K
$588K
$578K
$560K
$535K
$505K
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.
25
4.0
4.0
4+ bdrms
20
3.0
15
1 1
2.3
3 bdrms
10
1.0
8
2 bdrms
5
41
0
9
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 1 1 1.0 9 21 2.3 6 24 4.0 1 4 4.0 1 3 3.0 0 2 n/a 0 3 n/a
<2 bdrms
16
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. 16 ●
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