westshore DETACHED - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 5.3 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2023
▲ 1.8% VS 2023
▲ 33% VS 2023
▲ 3% VS 2023
There were 320 detached listings in the Westshore in February, 11% above January and 33% higher than February 2023. February detached home sales increased by 7% month-over-month, to 60, and were 3% above February 2023. The months of inventory for detached in the Westshore, at 5.3, reflected a balanced market. The detached median price in February was $1,062,500, a 4% increase from January and 1.8% above February 2023. The average sold price was $1,185,656, 11% above last month and up 6% to February 2023.
THIS MONTH No. $1,185,656 $1,062,500 5.3 60 320
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,117,102 $1,043,810 416% 58 241
6% 1.8% 28% 3% 33%
$1,068,704 $1,022,500 5.1 56 288
11% 4% 4% 7% 11%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
374
40
393
386
332
307
320
341
292
288
276
241
255
247
26
25
116
80
78
56
54
89
60
58
82
81
53
41
42
$1.14M
$1.14M
$1.06M $1.06M
$1.04M
$995K
$994K $1.04M
$985K $1.02M $1.06M
$973K
$960K
Feb-23
Jan-24
Feb-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
70
22.0
60
50
40
14.0
14.0
30
8.0
8.0
20
6.1
4.2
10
3.2
2.3
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
0 5 n/a
7 16 2.3
20 63 3.2
14 59 4.2
11 67 6.1
2 44 22.0
2 28 14.0
2 16 8.0
1 8 8.0
1 14 14.0
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 March 7, 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. 10 ●
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