esquimalt CONDO - MARCH 2 0 2 4
MONTHS OF INVENTORY 2.9 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.6% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 9% VS 2023
▲ 9% VS 2023
▼ 4% VS 2023
▼ 14% VS 2023
There were 35 condo listings in Esquimalt in March, 30% above February and 9% higher than March 2023. March condo sales increased by 300% month-over-month, to 12, and were 14% below March 2023. The months of inventory for condos in Esquimalt, at 2.9, reflected a sellers' market. The condo median price in March was $593,100, a 13% increase from February and 9% above March 2023. The average sold price was $588,558, 20% above last month; the average PSF sale price was $810, up 47% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
12 35
14 32
-0.6% -4% 9% 28% -14% 9%
$551 $490,667 $525,000 9.0 3 27
47% 20% 13% -68% 300% 30%
$810 $588,558 $593,100 2.9
$815 $613,700 $542,450 2.3
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
53
35
32
30
30
29
28
28
27
26
25
23
23
22
15
12
12
14
10
8
10
3
3
2
6
5
5
18
15
$639K
$617K
$593K
$560K
$542K
$538K
$525K
$510K
$510K
$500K
$493K
$400K
$353K
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.
4.0
4+ bdrms
15
2.6
1 1
10
3 bdrms
6
5
0.5
2 bdrms
20
0
5
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 1 n/a 7 18 2.6 3 12 4.0 2 1 0.5 0 1 n/a 0 1 n/a 0 1 n/a
<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 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. 24 ●
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