westshore DETACHED - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 7.4 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2022
▲ 24% VS 2022
▲ 1.9% VS 2022
▼ 6% VS 2022
There were 393 detached listings in the Westshore in September, 15% above August and 24% higher than September 2022. September detached home sales decreased by 32% month-over-month, to 53, and were 1.9% above September 2022. The months of inventory for detached in the Westshore, at 7.4, reflected a balanced market. The detached median price in September was $1,040,000, a 5% increase from August and 4% above September 2022. The average sold price was $1,051,599, 0.4% above last month and down 6% to September 2022.
THIS MONTH No. $1,051,599 $1,040,000 7.4 53 393
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,121,725 $999,450 612% 52 318
-6% 4% 21% 1.9% 24%
$1,047,217 $993,500 4.4 78 341
0.4% 5% 70% -32% 15%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
40
393
332
307
305
318
341
281
236
276
30
255
247
241
229
24
116
80
78
58
55
89
82
81
53
52
27
42
40
$1.14M
$1.14M
$1.13M
$995K $1.07M $1.04M
$1.06M $1.06M
$999K
$994K $1.04M
$978K
$918K
Sep-22
Aug-23
Sep-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
80
13.0
60
7.6
6.9
40
4.6
20
2.5
1.5
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
2 3 1.5
11 28 2.5
11 84 7.6
16 73 4.6
10 69 6.9
3 39 13.0
0 39 n/a
0 26 n/a
0 15 n/a
0 17 n/a
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 October 13, 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.
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