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!
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.