January 2023 Victoria BC Area Realty Statistics

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Featured image for Victoria Real Estate Market statistics in 2022

This is the first monthly Victoria BC realty statistics covering 2023 with reports comparing January 2023 with January 2022.

Victoria Real Estate Stats for Condos and Apartments in January 2023

While the absorption rate for all sectors of the market is around 1/3rd due to the ongoing lack of supply all market segments are in a balanced position based on months of supply.
Illustration showing Victoria Real Estate Statistics for Condos and Apartments in January 2023
With a total of 274 sales of all types of properties in January use of average prices paints a misleading picture with respect to prices.

Victoria Real Estate Stats for Single Family Homes in January 2023

We started to see the market wake up mid to late January with more buyer calls and activity in general.
Illustration showing Victoria Real Estate Statistics for Single Family Homes in January 2023
There were even instances of multiple offers on well price properties.

Victoria Real Estate Stats for Townhomes and Duplexes in January 2023

For those waiting for the bottom of the market to buy, we may have just seen it in January.
Illustration showing Victoria Real Estate Statistics for Row and Townhouse in January 2023
As always, demand and supply in the local Victoria Real Estate market will decide what’s around the corner, so stick around for more stats next month.

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

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