Hopefully everyone is coping well with the chilly weather we saw during February in Victoria? If someone had warned Victoria locals that 2024 was going to be this cold some of us might have just slept in?!
This February 2024 realty statistics article for Victoria BC has been separated into the 3 main housing categories, Condos and Apartments, Single Family Homes, and Townhomes and Duplexes.
Victoria Real Estate Stats for Condos and Apartments in February 2024
The monthly statistics for Condos and Apartments in the Victoria region were almost as hard on local buyers as the weather! Higher prices and an eight day/24% jump in listing times, similar to what we saw in December 2023, lead to six percent fewer listings selling for the month.
Higher prices and a dead even sell to list ratio makes February 2024 skew visibly towards a sellers market, especially compared to what we had reported in January.
Victoria Real Estate Stats for Single Family Homes in February 2024
Speaking of cold, the statistics for local Victoria single-family homes in February 2024 were the polar opposite of the stats above for Condos and Apartments. Lower prices saw more units sold with shorter listing times for this market segment.
Perhaps ironically, the Single Family Home market was colder in January so the improvements we saw in February are heating this segment up in comparison, favoring sellers as it does so.
Victoria Real Estate Stats for Townhomes and Duplexes in February 2024
The price trend we saw last month for Townhomes and Duplexes has not slowed down at all, showing another 8% increase over the previous year and 19% increase over January 2024. With almost double the sold units vs. both January 2023 & 2024, and 14 days shorter listing times the price increases are very interesting.
The lean towards a buyers in the Townhouse and Duplex market we saw last month swung rather wildly in favor of sellers this month, giving us a bit of an exciting twist for the February reporting period.
