westshore TOWNHOME - AUGUST 2 0 2 4
MONTHS OF INVENTORY 3.9 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 10% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 26% VS 2023
▼ 4% VS 2023
▼ 6% VS 2023
▼ 21% VS 2023
There were 106 townhome listings in the Westshore in August, 3% below July and 26% higher than August 2023. August townhome sales remained the same month-over-month, at 27, and were 21% below August 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for townhomes in the Westshore, at 3.9, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$527 $715,405 $680,000 3.9 27 106
34 84
10% -4% -6% 59% -21% 26%
$502 $744,359 $745,000 4.0 27 109
5% -4% -9% -3% 0% -3%
The townhome median price in August was $680,000, a 9% decrease from July and 6% below August 2023. The average sold price was $715,405, 4% below last month; the average PSF sale price was $527, up 5% to last month.
$478 $746,365 $724,703 2.5
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
45
122
120
103
102
115
99
106
111
94
109
84
90
87
34
44
31
34
36
27
34
27
11
21
23
22
15
14
13
$790K
$772K
$761K
$738K
$745K
$741K
$745K
$732K
$730K
$725K
$725K
$685K
$680K
Aug-23
Jul-24
Aug-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.
35
3
30
7.0
4+ bdrms
14
5.7
25
14
20
4.1
3 bdrms
62
15
2.5
1.7
8
10
2 bdrms
29
5
0
2
<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 5 1.7
11 27 2.5
8 33 4.1
3 17 5.7
0 10 n/a
2 14 7.0
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. 12 ●
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