westbank centre CONDO - JULY 2 0 2 4
MONTHS OF INVENTORY 3.1 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 8% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2023
▲ 33% VS 2023
▼ 20% VS 2023
▼ 21% VS 2023
There were 50 condo listings in Westbank Centre in July, 24% below June and 6% higher than July 2023.
July condo sales increased by 23% month-over-month, to 16, and were 33% above July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Westbank Centre, at 3.1, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
16 50
12 47
-8% -20% -21% -20% 33% 6%
13 66
-13% -15% -11% -38% 23% -24%
The condo median price in July was $414,500, a 11% decrease from June and 21% below July 2023. The average sold price was $402,588, 15% below last month; the average PSF sale price was $422, down 13% to last month.
$422 $402,588 $414,500 3.1
$459 $501,075 $521,950 3.9
$488 $471,300 $467,000 5.1
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
66
66
65
64
63
70
59
58
56
54
47
50
50
49
46
13
16
8
8
8
12
6
6
6
5
5
13
4
24
$522K
$469K
$467K
$457K
$433K
$430K
$415K
$399K
$400K
$392K
$373K
$370K
$350K
Jul-23
Jun-24
Jul-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.
3.1
3.0
25
4+ bdrms
20
3 bdrms
15
10
12
2 bdrms
5
35
0
4
<$200K $200K-399K $400K-599K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M+ MOI INVENTORY SALES 7 22 3.1 9 27 3.0 0 1 n/a
<2 bdrms
15
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 August 6, 2024. All data from Association of Interior Realtors & 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. 49 ●
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