westshore CONDO - APRIL 2 0 2 4
MONTHS OF INVENTORY 2.9 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 0.9% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 50% VS 2023
▲ 14% VS 2023
▼ 5% VS 2023
▼ 4% VS 2023
There were 144 condo listings in the Westshore in April, 2% below March and 50% higher than April 2023.
April condo sales increased by 52% month-over-month, to 50, and were 14% above April 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in the Westshore, at 2.9, re&ected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$621 $537,337 $530,500 2.9 50 144
44 96
0.9% -5% -4% 32% 14% 50%
$628 $555,654 $533,000 4.5 33 147
-1.3% -3% -0.5% -35% 52% -2%
The condo median price in April was $530,500, a 0.5% decrease from March and 4% below April 2023. The average sold price was $537,337, 3% below last month; the average PSF sale price was $621, down 1.3% to last month.
$615 $564,598 $552,500 2.2
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
25
144
147
125
121
121
23
117
111
110
106
96
99
90
83
17
43
50
37
44
35
27
33
27
26
24
22
20
20
$567K
$560K
$553K
$545K
$539K
$536K
$530K
$533K
$531K
$505K
$500K
$492K
$457K
Apr-23
Mar-24
Apr-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.
80
70
8.8
4+ bdrms
60
50
1
3 bdrms
40
10
3.5
30
37
20
1.8
2 bdrms
87
10
0
12
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 3 n/a 2 7 3.5 42 76 1.8 5 44 8.8 0 13 n/a 1 0 n/a 0 1 n/a
<2 bdrms
47
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. 13 ●
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