Congrats, it seems like we made it through the first month of 2024!? We are celebrating this milestone with a fresh Victoria BC real-estate article comparing the January 2024 realty statistics with matching data from the same period in 2023.
The statistics in this article have 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 January 2024
Realty stats for Condos and apartments were all over the place in January compared to the same period in 2023. We were already seeing a cooling off in average price increases last month, so the 4% dip this month follows the existing trend.
The minor increase in the number of units sold was minor compared to the drastic jump in the days to sell figure, jumping up considerably from the 44 days to sell that we saw last month and the 41 days to sell from January 2023.
Victoria Real Estate Stats for Single Family Homes in January 2024
The average price for local Victoria single-family homes in January 2024 fell a surprising 4% compared to January 2023. This would be impressive by itself but considering the increase in average price we saw last month this is a overall swing of 9% or just over $92k drop in average prices vs. last month.
The number of units sold and the days to sell were both up from last month bringing the “Sell to List-Ratio” back down to 43%, which is helping to balance out the market.
Victoria Real Estate Stats for Townhomes and Duplexes in January 2024
While the current Real Estate statistics show prices for Victoria townhomes and duplexes in January experienced an average price drop of over $62k compared to December of 2022, the average prices for Townhomes and Duplexes were reasonably stable between December 2023 and January 2024.
Less units sold, over a longer period of time, does move the local Victoria Townhouse and Duplex market back away from the sellers, and more towards a balanced position in the middle.