westshore CONDO - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 4.6 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 7% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 52% VS 2022
▲ 50% VS 2022
▼ 1.2% VS 2022
▼ 2% VS 2022
There were 125 condo listings in the Westshore in September, 18% above August and 52% higher than September 2022. September condo sales decreased by 27% month-over-month, to 27, and were 50% above September 2022. The months of inventory for condos in the Westshore, at 4.6, reflected a sellers' market. The condo median price in September was $530,000, a 5% increase from August and 2% below September 2022. The average sold price was $537,530, 1.4% below last month; the average PSF sale price was $651, up 5% 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
$651 $537,530 $530,000 4.6 27 125
18 82
50% 52%
$622 $545,074 $505,000 2.9 37 106
5% -1.4% 5% 62% -27% 18%
$609 $544,061 $542,500 456%
7% -1.2% -2% 1.6%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
27
125
117
110
96
106
89
84
99
82
20
65
76
63
45
43
37
16
45
25
20
27
26
18
24
22
18
16
15
$573K
$565K
$560K
$560K
$543K
$539K
$530K
$525K
$499K
$505K
$491K
$484K
$457K
Sep-22
Aug-23
Sep-23
▶ 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.
60
11.0
4+ bdrms
50
7.5
40
3 bdrms
9
30
3.5
20
16
2 bdrms
2.0
2.0
83
10
0
11
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 1 11 11.0 0 2 n/a 1 2 2.0 1 2 2.0 18 63 3.5 6 45 7.5
<2 bdrms
33
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. 12 ●
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