westshore CONDO - NOVEMBER 2 0 2 3
MONTHS OF INVENTORY 5.4 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 7% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 3% VS 2022
▲ 0.2% VS 2022
▲ 81% VS 2022
▼ 16% VS 2022
There were 114 condo listings in the Westshore in November, 6% below October and 81% higher than November 2022. November condo sales decreased by 9% month-over-month, to 21, and were 16% below November 2022. The months of inventory for condos in the Westshore, at 5.4, reflected a balanced market. The condo median price in November was $500,000, a 7% decrease from October and 0.2% above November 2022. The average sold price was $526,780, 0.5% below last month; the average PSF sale price was $650, up 9% 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
$650 $526,780 $500,000 5.4 21 114
25 63
7% 3% 0.2% 115% -16% 81%
$596 $529,413 $535,900 5.3 23 121
-9% -6%
$608 $509,756 $499,000 252%
9% -0.5% -7% 3%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
41
117
110
125
114
121
37
96
106
89
99
65
63
76
45
43
37
45
20
25
21
27
26
24
23
22
18
16
$573K
$560K
$560K
$539K
$536K
$530K
$525K
$499K
$505K
$500K
$491K
$484K
$457K
4
Nov-22
Oct-23
Nov-23
▶ 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.
50
6.3
4+ bdrms
40
30
3 bdrms
3.5
10
20
13
2 bdrms
10
72
0
8
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 4 n/a 0 7 n/a 15 53 3.5 6 38 6.3 0 10 n/a 0 2 n/a
<2 bdrms
32
Copyright © 2023 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 December 11, 2023. 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. 12 ●
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