victoria real estate board CONDO - OCTOBER 2 0 2 4
MONTHS OF INVENTORY 4.4 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 8% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 28% VS 2023
▲ 36% VS 2023
▼ 7% VS 2023
▼ 5% VS 2023
There were 848 condo listings in the Victoria Real Estate Board in October, 1.6% above September and 28% higher than October 2023. October condo sales increased by 1.6% month-over-month, to 192, and were 36% above October 2023. The months of inventory for condos in the Victoria Real Estate Board, at 4.4, reflected a sellers' market. The condo median price in October was $510,823, a 5% decrease from September and 5% below October 2023. The average sold price was $587,441, 3% below last month; the average PSF sale price was $658, down 3% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 141 660
% Change
No. 189 835
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
192 848
-8% -7% -5% -6% 36% 28%
1.6% 1.6%
$658 $587,441 $510,823 4.4
$717 $634,763 $540,000 4.7
$680 $602,615 $540,000 4.4
-3% -3% -5% 0%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
35
848
855
849
835
829
681
669
761
746
30
660
27
579
536
537
247
213
189
181
154
192
125
200
197
141
182
117
104
$559K
$550K
$545K
$544K
$547K
$542K
$540K
$540K
$530K
$525K
$525K
$520K
$511K
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.
400
16.0
4+ bdrms
300
9
3 bdrms
200
8.7
32
8.3
5.0
107
100
4.0
3.8
2 bdrms
546
1.9
0
76
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 11 n/a 33 64 1.9 94 377 4.0 42 212 5.0 11 96 8.7 6 23 3.8 2 32 16.0 4 33 8.3
<2 bdrms
270
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. 7 ●
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