westshore DETACHED - JANUARY 2 0 2 4
MONTHS OF INVENTORY 5.1 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 22% VS 2023
▲ 107% VS 2023
▼ 14% VS 2023
▼ 4% VS 2023
There were 288 detached listings in the Westshore in January, 1.4% below December and 22% higher than January 2023. January detached home sales increased by 33% month-over-month, to 56, and were 107% above January 2023. The months of inventory for detached in the Westshore, at 5.1, reflected a balanced market.
THIS MONTH No. $1,068,704 $1,022,500 5.1 56 288
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,247,426 $1,065,000 874% 27 236
-14% -4% -41% 107% 22%
$1,061,279 $985,000 7.0 42 292
0.7% 4% -26% 33% -1.4%
The detached median price in January was $1,022,500, a 4% increase from December and 4% below January 2023.
The average sold price was $1,068,704, 0.7% above last month and down 14% to January 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
374
57
393
386
332
307
341
288
292
276
236
255
42
247
241
40
116
80
78
58
54
89
82
81
56
53
27
41
42
$1.14M
$1.14M
$1.07M $1.04M
$1.06M $1.06M
$1.04M $973K
$995K
$994K
$960K $985K $1.02M
Jan-23
Dec-23
Jan-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
70
11.0
10.5
60
8.9
50
40
30
3.7
20
2.7
1.1
10
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.74M $1.75M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
MOI INVENTORY SALES
0 3 n/a
8 9 1.1
19 51 2.7
16 59 3.7
8 71 8.9
3 33 11.0
2 21 10.5
0 20 n/a
0 6 n/a
0 15 n/a
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 February 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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