victoria real estate board CONDO - JUNE 2 0 2 4
MONTHS OF INVENTORY 4.4 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 73% VS 2023
▼ 12% VS 2023
▼ 1.8% VS 2023
▼ 20% VS 2023
There were 855 condo listings in the Victoria Real Estate Board in June, 0.8% above May and 73% higher than June 2023. June condo sales decreased by 21% month-over-month, to 196, and were 20% below June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 245 494
% Change
No. 249 848
% Change
The months of inventory for condos in the Victoria Real Estate Board, at 4.4, re*ected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
196 855
-3% -12% -1.8% 116% -20% 73%
4% -4% 0.5% 28% -21% 0.8%
The condo median price in June was $549,900, a 0.5% increase from May and 1.8% below June 2023. The average sold price was $585,560, 4% below last month; the average PSF sale price was $693, up 4% to last month.
$693 $585,560 $549,900 4.4
$713 $663,168 $560,000 2.0
$663 $611,982 $547,000 3.4
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
24
855
23
848
681
669
660
745
610
18
579
494
536
537
504
484
249
245
181
156
154
196
125
200
191
167
141
117
104
$560K
$559K
$559K
$555K
$550K
$545K
$544K
$547K
$550K
$540K
$530K
$525K
$520K
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.
400
24+
24+
4+ bdrms
300
2
3 bdrms
200
25
10.0
7.3
111
100
2 bdrms
498
4.2
4.0
3.9
3.2
0
83
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 1 10 10.0 22 70 3.2 100 394 3.9 54 216 4.0 12 87 7.3 5 21 4.2 1 27 27.0 1 30 30.0
<2 bdrms
332
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. 7 ●
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