victoria core CONDO - MARCH 2 0 2 4
MONTHS OF INVENTORY 3.5 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 3% VS 2023
▲ 1.2% VS 2023
▲ 37% VS 2023
▼ 15% VS 2023
There were 469 condo listings in the Victoria Core in March, 15% above February and 37% higher than March 2023. March condo sales increased by 19% month-over-month, to 133, and were 15% below March 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 157 342
% Change
No. 112 408
% Change
The months of inventory for condos in the Victoria Core, at 3.5, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
133 469
4% 3% 1.2% 62% -15% 37%
3% 7% 5% -3% 19% 15%
The condo median price in March was $572,000, a 5% increase from February and 1.2% above March 2023. The average sold price was $652,824, 7% above last month; the average PSF sale price was $707, up 3% to last month.
$707 $652,824 $572,000 3.5
$681 $634,487 $565,000 2.2
$685 $608,562 $542,500 3.6
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
496
525
31
450
469
26
349
414
344
409
408
342
370
344
338
195
197
19
157
116
107
133
155
148
112
112
88
86
73
$572K
$565K
$569K
$563K
$558K
$550K
$553K
$549K
$543K
$545K
$543K
$520K
$500K
Mar-23
Feb-24
Mar-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.
200
8.0
4+ bdrms
150
5.3
6
5.0
3 bdrms
100
11
4.1
3.9
2.8
83
50
1.7
2 bdrms
258
0
44
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 3 n/a 10 50 5.0 68 193 2.8 27 110 4.1 15 58 3.9 4 21 5.3 6 10 1.7 3 24 8.0
<2 bdrms
200
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 April 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. 10 ●
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