victoria CONDO - JUNE 2 0 2 4
MONTHS OF INVENTORY 5.7 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 6% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 79% VS 2023
▼ 13% VS 2023
▼ 2% VS 2023
▼ 36% VS 2023
There were 366 condo listings in Victoria in June, 3% above May and 79% higher than June 2023.
June condo sales decreased by 29% month-over-month, to 64, and were 36% below June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 100 205
% Change
No.
% Change
The months of inventory for condos in Victoria, at 5.7, re%ected a balanced market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$718 $571,019 $527,500 5.7 64 366
-6% -13% -2% 179% -36% 79%
$703 $656,924 $537,500 3.9 90 355
2% -13% -1.9% 45% -29% 3%
The condo median price in June was $527,500, a 1.9% decrease from May and 2% below June 2023. The average sold price was $571,019, 13% below last month; the average PSF sale price was $718, up 2% to last month.
$766 $652,599 $539,000 2.1
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
26
366
25
316
355
301
260
253
272
272
254
238
205
205
18
194
90
84
100
72
69
49
44
64
34
59
58
51
44
$558K
$553K
$550K
$542K
$539K
$540K
$539K
$538K
$527K
$528K
$505K
$500K
$474K
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.
160
140
17.0
4+ bdrms
120
14.7
100
1
3 bdrms
80
6
60
5.6
5.0
5.0
27
4.7
40
4.3
2 bdrms
197
20
0
36
<$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 10 43 4.3 32 149 4.7 15 84 5.6 3 44 14.7 2 10 5.0 0 14 n/a 1 17 17.0
<2 bdrms
163
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. 45 ●
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