westshore DETACHED - APRIL 2 0 2 4
MONTHS OF INVENTORY 4.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 67% VS 2023
▲ 11% VS 2023
▼ 4% VS 2023
▼ 3% VS 2023
There were 427 detached listings in the Westshore in April, 23% above March and 67% higher than April 2023. April detached home sales increased by 3% month-over-month, to 90, and were 11% above April 2023. The months of inventory for detached in the Westshore, at 4.7, re&ected a sellers' market.
THIS MONTH No. $1,146,222 $1,102,000 4.7 90 427
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,188,897 $1,140,000 3.1 81 255
-4% -3% 51% 11% 67%
$1,121,026 $989,900 4.0 87 346
2% 11% 19% 3% 23%
The detached median price in April was $1,102,000, a 11% increase from March and 3% below April 2023.
The average sold price was $1,146,222, 2% above last month and down 4% to April 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
29
427
393
385
373
332
320
307
25
346
341
24
291
288
255
276
116
87
78
90
81
56
54
89
82
61
53
41
43
$1.14M
$1.14M
$1.10M
$1.06M $1.06M
$1.02M $1.06M
$994K $1.04M
$990K
$973K
$980K
$960K
Apr-23
Mar-24
Apr-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
100
19.0
17.5
80
60
40
5.7
20
3.9
3.5
3.1
2.8
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 22 2.8
28 87 3.1
25 97 3.9
16 91 5.7
10 35 3.5
2 35 17.5
1 19 19.0
0 14 n/a
0 19 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 May 8, 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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