victoria real estate board CONDO - DECEMBER 2 0 2 4
MONTHS OF INVENTORY 4.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.8% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 10% VS 2023
▲ 5% VS 2023
▲ 5% VS 2023
▲ 29% VS 2023
There were 562 condo listings in the Victoria Real Estate Board in December, 24% below November and 5% higher than December 2023. December condo sales decreased by 29% month-over-month, to 134, and were 29% above December 2023. The months of inventory for condos in the Victoria Real Estate Board, at 4.2, reflected a sellers' market. The condo median price in December was $550,000, a 1.9% increase from November and 5% above December 2023. The average sold price was $600,364, 1.7% below last month; the average PSF sale price was $644, up 0.5% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 104 536
% Change
No. 188 739
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
134 562
-0.8% 10% 5% -19% 29% 5%
0.5% -1.7% 1.9% 7% -29% -24%
$644 $600,364 $550,000 4.2
$650 $547,646 $525,000 5.2
$641 $610,440 $540,000 3.9
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
48
855
849
848
739
834
829
669
760
746
536
579
562
537
34
34
246
213
193
189
188
181
154
200
197
134
182
104
117
$559K
$550K
$550K
$545K
$544K
$547K
$542K
$540K
$540K
$530K
$525K
$525K
$513K
Dec-23
Nov-24
Dec-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
21.0
4+ bdrms
200
17.0
3
150
3 bdrms
19
10.7
100
7.0
94
2 bdrms
4.4
50
346
3.6
3.4
0
37
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 8 n/a 10 44 4.4 74 248 3.4 39 139 3.6 6 64 10.7 1 17 17.0 1 21 21.0 3 21 7.0
<2 bdrms
197
Copyright © 2025 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 January 13, 2025. 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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