westshore CONDO - OCTOBER 2 0 2 4
MONTHS OF INVENTORY 3.8 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 11% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 69% VS 2023
▲ 125% VS 2023
▼ 3% VS 2023
▼ 5% VS 2023
There were 205 condo listings in the Westshore in October, 2.0% above September and 69% higher than October 2023. October condo sales increased by 23% month-over-month, to 54, and were 125% above October 2023. The months of inventory for condos in the Westshore, at 3.8, reflected a sellers' market. The condo median price in October was $509,073, a 4% decrease from September and 5% below October 2023. The average sold price was $512,434, 5% below last month; the average PSF sale price was $659, up 0.3% 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
$659 $512,434 $509,073 3.8 54 205
$595 $529,662 $535,648 5.0 24 121
-25% 125% 69%
$657 $541,527 $530,000 4.6 44 201
0.3% -5% -4% -17% 23% 2%
11% -3% -5%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
213
201
42
205
179
184
181
148
121
145
111
121
90
25
83
50
44
54
35
27
43
44
41
40
24
33
20
20
15
$567K
$545K
$545K
$536K
$533K
$531K
$535K
$530K
$516K
$511K
$509K
$500K
$492K
Oct-23
Sep-24
Oct-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.
120
12.0
100
4+ bdrms
80
2
3 bdrms
60
11
5.9
40
3.6
28
2 bdrms
20
150
0.6
0
24
<$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 13 8 0.6 31 111 3.6 8 47 5.9 2 24 12.0 0 5 n/a 0 1 n/a 0 2 n/a
<2 bdrms
44
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 November 12, 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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