November 2023 Victoria BC Area Realty Statistics

You might have guessed what we have for you? You’re right, it’s time for another of our monthly Victoria BC real-estate statistics articles!

seasonal image showing gift wrapped boxes — Happy Holidays! Seasons Greetings! Festivus for the rest of us!

This month’s realty statistics(*with infographics) are comparing November 2023 to November 2022 for the local Victoria BC region separated into 3 main housing categories.

Victoria Real Estate Stats for Condos and Apartments in November 2023

Thanks to the data we can see that between November 2022 and November 2023, the average price of condominiums and apartments in Victoria BC decreased by 3% to $600k, and the number of units sold also decreased by 11.8%, bringing it to 120 units sold for November.

Additionally, the local Victoria condominiums and apartment market shifted towards a balance due to the increase in the number of listings on the market compared to last year, which is a positive trend as we are recovering from very low inventory.

Victoria Real Estate Stats for Single Family Homes in November 2023

While less than 2k over the prices we saw last month, the market for Victoria single family homes went through a 5% or 62k jump in average price vs. November 2022.

While the average prices for Single Family Homes in November went up a bit, the increased days to sell and sale-to-list ratio managed to push the market even further towards buyers.

Victoria Real Estate Stats for Townhomes and Duplexes in November 2023

Comparing the average price of townhomes and duplexes in Victoria for November 2023 we can see the real estate market prices increased 6% up to $855k from $803k, and the number of units sold increased by a whopping 32%.

The market changes moved the needle more towards a sellers market than some may have expected, as the situation was nearly balanced going into November, but the difference is really not that drastic.

Geoff McLean

Geoff is an established real estate professional whose years of experience have earned him numerous awards and accolades. He has been one of the top RE/MAX Realtors in the Victoria (BC) area since 1990, a Victoria Real Estate Board MLS Gold Award winner for more than 36 years, and has won many other awards over the years. What do these awards mean to you? They mean that Geoff works hard and that he produces consistently. He is well connected in the industry and in the community. Connect with Geoff via email geoff@mcleanrealestategroup.ca