westshore TOWNHOME - JANUARY 2 0 2 4
MONTHS OF INVENTORY 5.3 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 9% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 18% VS 2023
▲ 19% VS 2023
▲ 3% VS 2023
▼ 4% VS 2023
There were 121 townhome listings in the Westshore in January, 5% above December and 3% higher than January 2023. January townhome sales remained the same month-over-month, at 23, and were 4% below January 2023. The months of inventory for townhomes in the Westshore, at 5.3, reflected a balanced market. The townhome median price in January was $720,000, a 7% increase from December and 19% above January 2023. The average sold price was $759,994, 8% above last month; the average PSF sale price was $484, down 0.2% 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
$484 $759,994 $720,000 5.3 23 121
$443 $646,700 $607,500 492% 24 118
9% 18% 19% 7% -4% 3%
$485 $706,315 $672,000 5.0 23 115
-0.2% 8% 7% 5% 0% 5%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
58
132
147
144
123
122
118
121
118
108
117
115
102
44
91
43
42
39
23
41
36
24
23
30
26
25
20
20
$789K
$759K
$754K
$747K
$732K
$735K
$720K
$719K
$720K
$713K
$712K
14
$672K
$608K
Jan-23
Dec-23
Jan-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.
40
4
9.8
4+ bdrms
32
8.7
30
8.0
7.3
16
3 bdrms
63
20
3
2 bdrms
10
1.8
25
1.0
0
<2 bdrms
<$600K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES
1
3 3 1.0
8 14 1.8
4 39 9.8
3 26 8.7
2 16 8.0
3 22 7.3
0 1 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. 11 ●
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