westshore CONDO - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 3.5 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 2% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 1.8% VS 2023
▲ 59% VS 2023
▲ 119% VS 2023
▼ 0.4% VS 2023
There were 121 condo listings in the Westshore in February, 34% above January and 59% higher than February 2023. February condo sales increased by 75% month-over-month, to 35, and were 119% above February 2023. The months of inventory for condos in the Westshore, at 3.5, reflected a sellers' market. The condo median price in February was $499,900, a 8% decrease from January and 1.8% above February 2023. The average sold price was $498,183, 10% below last month; the average PSF sale price was $592, down 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
$592 $498,183 $499,900 3.5 35 121
16 76
2% -0.4% 1.8% -27% 119% 59%
20 90
-5% -10% -8% -23% 75% 34%
$580 $500,281 $491,000 475%
$621 $556,015 $545,000 4.5
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
27
117
27
121
111
110
125
121
96
106
89
99
90
76
83
19
44
43
37
27
35
27
26
16
24
23
22
20
20
$573K
$567K
$560K
$553K
$545K
$539K
$536K
$530K
$505K
$500K
$492K
$491K
$457K
Feb-23
Jan-24
Feb-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.
60
7.8
4+ bdrms
50
40
3 bdrms
10
30
20
2.3
2.0
27
1.7
2 bdrms
78
10
0
8
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 13 n/a 0 1 n/a 0 1 n/a 1 2 2.0 3 5 1.7 26 60 2.3 5 39 7.8
<2 bdrms
33
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. 12 ●
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