westshore CONDO - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 4.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 1.0% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 1.1% VS 2022
▲ 17% VS 2022
▲ 84% VS 2022
▲ 11% VS 2022
There were 83 condo listings in the Westshore in December, 25% below November and 84% higher than December 2022. December condo sales decreased by 26% month-over-month, to 20, and were 11% above December 2022. The months of inventory for condos in the Westshore, at 4.2, reflected a sellers' market. The condo median price in December was $566,500, a 15% increase from November and 17% above December 2022. The average sold price was $544,925, 5% above last month; the average PSF sale price was $622, down 4% 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
20 83
18 45
1% 1.1% 17% 66% 11% 84%
$647 $520,033 $492,000 4.1 27 111
-4% 5% 15% 0.9% -26% -25%
$622 $544,925 $566,500 4.2
$616 $538,789 $484,000 250%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
37
117
111
110
125
121
96
106
89
99
83
65
76
24
45
43
37
45
27
20
20
27
26
18
24
23
22
16
15
$573K
$567K
$560K
$560K
$539K
$536K
$530K
$525K
$505K
$492K
$491K
$484K
$457K
Dec-22
Nov-23
Dec-23
▶ 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.
40
5.0
4+ bdrms
4.5
30
3.3
3.0
3 bdrms
20
8
16
10
2 bdrms
52
0
4
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 0 9 n/a 1 3 3.0 1 5 5.0 12 39 3.3 6 27 4.5
<2 bdrms
23
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. 12 ●
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