westshore DETACHED - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 7.0 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 1.1% VS 2022
▲ 0.8% VS 2022
▲ 28% VS 2022
▲ 5% VS 2022
There were 292 detached listings in the Westshore in December, 22% below November and 28% higher than December 2022. December detached home sales increased by 2% month-over-month, to 42, and were 5% above December 2022. The months of inventory for detached in the Westshore, at 7.0, reflected a balanced market. The detached median price in December was $985,000, a 3% increase from November and 0.8% above December 2022. The average sold price was $1,061,279, 3% above last month and up 1.1% to December 2022.
THIS MONTH No. $1,061,279 $985,000 7.0 42 292
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,049,364 $977,500 573% 40 229
1.1% 0.8% 21% 5% 28%
$1,031,979 $960,000 9.1 41 374
3% 3% -24% 2% -22%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
374
57
393
386
332
307
341
48
292
236
276
255
229
247
241
40
116
80
78
58
54
89
82
81
27
42
40
53
41
$1.14M
$1.14M
$1.07M $1.04M
$1.06M $1.06M
$995K
$994K $1.04M
$985K
$978K
$973K
$960K
Dec-22
Nov-23
Dec-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
70
60
24+
50
40
30
11.7
11.0
20
5.0
10
3.4
1.9
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 3 n/a
9 17 1.9
14 47 3.4
12 60 5.0
2 64 32.0
3 35 11.7
0 24 n/a
2 22 11.0
0 8 n/a
0 12 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 January 22, 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.
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