westshore CONDO - JULY 2 0 2 4
MONTHS OF INVENTORY 4.3 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 0.2% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2023
▲ 12% VS 2023
▲ 57% VS 2023
▲ 95% VS 2023
There were 184 condo listings in the Westshore in July, 14% below June and 57% higher than July 2023.
July condo sales increased by 8% month-over-month, to 43, and were 95% above July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in the Westshore, at 4.3, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$630 $514,691 $512,000 4.3 43 184
$629 $485,631 $457,000 5.3 22 117
0.2% 6% 12% -20% 95% 57%
$657 $531,709 $511,000 5.3 40 213
0.2% -20% 8% -14%
The condo median price in July was $512,000, a 0.2% increase from June and 12% above July 2023. The average sold price was $514,691, 3% below last month; the average PSF sale price was $630, down 4% to last month.
-4% -3%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
213
28
179
184
148
22
125
121
121
145
111
117
20
106
90
83
50
37
35
43
27
42
40
22
33
27
24
20
20
$567K
$545K
$544K
$536K
$530K
$533K
$531K
$511K
$512K
$505K
$500K
$492K
$457K
Jul-23
Jun-24
Jul-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.
100
7.3
4+ bdrms
6.5
80
6.0
1
60
3 bdrms
6
3.1
40
26
2 bdrms
20
123
0
16
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 33 102 3.1 7 51 7.3 0 10 n/a 0 1 n/a 0 1 n/a 1 6 6.0 2 13 6.5
<2 bdrms
55
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. 13 ●
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