saanich east CONDO - OCTOBER 2 0 2 4
MONTHS OF INVENTORY 4.5 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 25% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 11% VS 2023
▲ 4% VS 2023
▼ 8% VS 2023
▼ 27% VS 2023
There were 72 condo listings in Saanich East in October, 9% above September and 4% higher than October 2023.
October condo sales decreased by 6% month-over-month, to 16, and were 27% below October 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Saanich East, at 4.5, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
16 72
22 69
-25% 11% -8% 43% -27% 4%
17 66
-17% 14% 3% 16% -6% 9%
The condo median price in October was $511,000, a 3% increase from September and 8% below October 2023. The average sold price was $604,238, 14% above last month; the average PSF sale price was $575, down 17% to last month.
$575 $604,238 $511,000 4.5
$764 $543,173 $552,500 3.1
$691 $528,965 $495,000 3.9
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
69
36
72
66
65
65
69
70
67
66
60
52
28
48
35
42
31
22
22
16
16
25
15
16
20
17
13
13
12
$605K
$575K
$553K
$553K
$540K
$540K
$520K
$511K
$500K
$491K
$495K
$460K
$456K
Oct-23
Sep-24
Oct-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.
35
7.0
4+ bdrms
30
25
5.0
2
20
3 bdrms
1
15
2.8
2.0
2.0
10
8
2 bdrms
57
5
0
6
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 7 n/a 1 2 2.0 0 4 n/a 1 7 7.0 3 6 2.0 7 35 5.0 4 11 2.8
<2 bdrms
14
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 November 12, 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. 34 ●
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