lake country CONDO - JUNE 2 0 2 4
MONTHS OF INVENTORY 4.8 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 13% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 9% VS 2023
▼ 8% VS 2023
▼ 7% VS 2023
▼ 29% VS 2023
There were 24 condo listings in the Lake Country in June, 20% above May and 9% higher than June 2023.
June condo sales increased by 67% month-over-month, to 5, and were 29% below June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in the Lake Country, at 4.8, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$369 $429,800 $458,000 4.8 5 24
$423 $465,857 $495,000 3.1 7 22
-13% -8% -7% 53% -29% 9%
$431 $434,467 $441,500 6.7 3 20
67% 20%
The condo median price in June was $458,000, a 4% increase from May and 7% below June 2023. The average sold price was $429,800, 1.1% below last month; the average PSF sale price was $369, down 14% to last month.
-14% -1.1% 4% -28%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
24
43
22
20
20
20
17
15
34
17
17
16
15
11
8
7
8 3
5
4
5
2
2
2
19
4
1
1
3
$784K
$495K
$474K
$460K
$460K
$458K
$442K
$439K
$427K
$410K
$400K
$391K
$387K
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.
14
5.0
4+ bdrms
12
3.5
10
8
3 bdrms
4
6
5
4
2 bdrms
18
2
0
<$200K $200K-399K $400K-599K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M+ MOI INVENTORY SALES 0 3 n/a 0 2 n/a 1 5 5.0 4 14 3.5
<2 bdrms
2
Copyright © July 8, 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 Association of Interior Realtors & 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. 17 ●
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