Victoria Real Estate Board

Market Conditions


Single Family

Months of inventory for single-family homes numbered 5.4 at the end of the fourth quarter of 2023, up from the 4.4 months recorded at the end of the fourth quarter of 2022.

The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

With a more balanced market, single-family homes spent more time on the market in the fourth quarter of 2023 than they had a year earlier.

The median number of days on market for single-family homes was 37 in the fourth quarter of 2023, up from 28 days in the fourth quarter of 2022.


Townhouse/row

Months of inventory for townhouse and row units numbered 4.2 at the end of the fourth quarter of 2023, up from the 3.5 months recorded at the end of the fourth quarter of 2022.

The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

With a more balanced market, townhouse and row units spent more time on the market in the fourth quarter of 2023 than they had a year earlier.

The median number of days on market for townhouse and row units was 28 in the fourth quarter of 2023, up slightly from 27 days in the fourth quarter of 2022.



Condominium

Months of inventory for condominium units numbered 4.9 at the end of the fourth quarter of 2023, up from the 3.9 months recorded at the end of the fourth quarter of 2022.

The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Despite a more balanced market, condominium units spent less time on the market in the fourth quarter of 2023 than they had a year earlier.

The median number of days on market for condominium units was 26 in the fourth quarter of 2023, down slightly from 27 days in the fourth quarter of 2022.



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