westshore CONDO - SEPTEMBER 2 0 2 4
MONTHS OF INVENTORY 4.6 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 0.9% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.7% VS 2023
▲ 61% VS 2023
▲ 63% VS 2023
- VS 2023
There were 201 condo listings in the Westshore in September, 11% above August and 61% higher than September 2023. September condo sales increased by 2% month-over-month, to 44, and were 63% above September 2023. The months of inventory for condos in the Westshore, at 4.6, re(ected a sellers' market. The condo median price in September was $530,000, a 0.9% decrease from August and no change to September 2023. The average sold price was $541,527, 0.9% above last month; the average PSF sale price was $657, up 1.9% 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
$657 $541,527 $530,000 4.6 44 201
$651 $537,530 $530,000 4.6 27 125
63% 61%
$645 $536,591 $535,000 4.2 43 181
9% 2% 11%
0.9% 0.7% 0% -1.3%
1.9% 0.9% -0.9%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
213
23
201
179
184
20
181
148
121
121
145
125
111
15
90
83
50
44
35
44
27
43
42
27
40
33
24
20
20
$567K
$545K
$544K
$536K
$530K
$533K
$531K
$535K
$530K
$516K
$511K
$500K
$492K
Sep-23
Aug-24
Sep-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
21.0
4+ bdrms
80
1
60
3 bdrms
11
40
32
5.2
2 bdrms
20
139
3.6
3.0
0
11
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 7 n/a 6 18 3.0 27 98 3.6 10 52 5.2 1 21 21.0 0 4 n/a 0 1 n/a
<2 bdrms
51
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 October 9, 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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