April brought an increase of 14% more listings compared to the previous month, with a total of 3,017 active listings for sale at the end of April 2024. This has created a more balanced market for both buyers and sellers.
From our Victoria Real Estate Board Chair, Laurie Lidstone, “we have a much healthier supply of inventory with numbers we have not seen since the summer of 2019. Combined with more stable pricing, this market is much easier to navigate for both buyers and sellers. People who are listing their homes can have confidence that they will be able to find a new home and sellers benefit from the stability of pricing and interest rates.”
There are lots of buying opportunities right now in our market. If you’re an investor, first time home buyer or looking to up/down size we’d love to chat to see how we can help!
Our April 2024 Victoria BC realty statistics 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 April 2024
April statistics for Condos and Apartments in the Victoria region are still looking a bit depressed, with not much change since last year. The only significant change is a 19% increase in days to sell, as the situation get a little worse for those trying to sell a condo or apartment.
The condo and apartment market continues to present the appearance of a seller’s market in April 2024. Check out the statistics from last month to compare.
Victoria Real Estate Stats for Single Family Homes in April 2024
The single-family homes market is looking more positive for April of 2024. While there wasn’t much change at all when it comes to the average home sale price or days to sell, the volume of units sold experienced a healthy 7% increase since last year.
The single-family home market in Victoria was just about balanced in April, with a 46% sell to list ratio and a hair over 4 months of inventory.
Victoria Real Estate Stats for Townhomes and Duplexes in April 2024
The townhouse and duplex market in Victoria made a couple nice strides in April 2024. The average sale price jumped 5%, or nearly $43,000, while the total days to sell fell slightly from 38 to 35 days. The total number of units remained stuck at 82.
The townhouse and duplex market in Victoria is leaning pretty hard towards a seller’s market with just 3 months of inventory on hand and a sell to list ratio of 54%.
If you have any questions about the real estate market or mortgage needs, please reach out to us!
