westshore DETACHED - JULY 2 0 2 4
MONTHS OF INVENTORY 5.8 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 46% VS 2023
▲ 1.2% VS 2023
▼ 3% VS 2023
▼ 6% VS 2023
There were 485 detached listings in the Westshore in July, 6% below June and 46% higher than July 2023. July detached home sales decreased by 5% month-over-month, to 83, and were 1.2% above July 2023. The months of inventory for detached in the Westshore, at 5.8, reflected a balanced market.
THIS MONTH No. $1,163,162 $1,075,000 5.8 83 485
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,196,139 $1,142,500 4.0 82 332
-3% -6% 44% 1.2% 46%
$1,079,519 $1,055,000 5.9 87 515
-5% -6%
The detached median price in July was $1,075,000, a 1.9% increase from June and 6% below July 2023.
8% 1.9% -1.3%
The average sold price was $1,163,162, 8% above last month and down 3% to July 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
515
35
485
427
465
393
385
373
29
320
332
346
341
291
288
23
111
87
78
54
56
82
83
43
41
90
87
61
53
$1.14M
$1.10M $1.03M $1.06M $1.08M
$1.02M $1.06M
$994K $1.04M
$990K
$973K
$980K
$960K
Jul-23
Jun-24
Jul-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
100
24+
21.0
80
60
40
9.5
6.4
5.9
5.1
20
4.3
3.8
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 8 n/a
8 41 5.1
26 98 3.8
20 85 4.3
16 103 6.4
7 41 5.9
4 38 9.5
1 27 27.0
1 21 21.0
0 23 n/a
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 August 6, 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. 11 ●
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