westshore DETACHED - AUGUST 2 0 2 4
MONTHS OF INVENTORY 5.4 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 8% VS 2023
▲ 9% VS 2023
▲ 37% VS 2023
▲ 10% VS 2023
There were 466 detached listings in the Westshore in August, 4% below July and 37% higher than August 2023. August detached home sales increased by 2% month-over-month, to 86, and were 10% above August 2023. The months of inventory for detached in the Westshore, at 5.4, reflected a balanced market.
THIS MONTH No. $1,128,925 $1,080,000 5.4 86 466
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,047,217 $993,500 4.4 78 341
24% 10% 37%
$1,165,636 $1,082,450 5.8 84 484
-3% -0.2% -6% 2% -4%
The detached median price in August was $1,080,000, a 0.2% decrease from July and 9% above August 2023.
The average sold price was $1,128,925, 3% below last month and up 8% to August 2023.
8% 9%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
515
35
466
427
484
32
465
393
385
373
30
320
341
346
291
288
111
87
54
56
86
78
43
41
90
87
84
61
53
$1.10M $1.03M $1.06M $1.08M $1.08M
$1.02M $1.06M
$994K $1.04M
$990K
$980K
$973K
$960K
Aug-23
Jul-24
Aug-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
100
24+
80
19.0
17.0
60
11.0
40
7.0
5.1
20
4.4
3.8
2.7
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
1 7 7.0
13 35 2.7
24 105 4.4
17 87 5.1
23 88 3.8
4 44 11.0
2 34 17.0
1 25 25.0
1 19 19.0
0 22 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 September 9, 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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