victoria real estate board DETACHED - NOVEMBER 2 0 2 3
MONTHS OF INVENTORY 8.1 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2022
▲ 8% VS 2022
▲ 24% VS 2022
▼ 25% VS 2022
There were 1,102 detached listings in the Victoria Real Estate Board in November, 7% below October and 24% higher than November 2022. November detached home sales decreased by 26% month-over-month, to 136, and were 25% below November 2022. The months of inventory for detached in the Victoria Real Estate Board, at 8.1, reflected a buyers' market. The detached median price in November was $1,137,500, a 1.6% increase from October and 8% above November 2022. The average sold price was $1,296,831, 4% above last month and up 5% to November 2022.
THIS MONTH No. $1,296,831 $1,137,500 8.1 136 1,102
PREVIOUS MONTH No.
PREVIOUS YEAR
No. 181 886
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
5% 8% 66% -25% 24%
$1,246,431 $1,120,000 6.5 183 1,187
4% 1.6% 25% -26% -7%
$1,235,984 $1,055,000 490%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,227
37
1,113
1,187
1,102
1,108
33
886
1,019
784
918
29
816
713
675
652
372
289
258
227
318
311
273
181
136
197
183
139
117
$1.20M $1.19M $1.19M $1.20M $1.19M $1.21M
$1.15M $1.08M
$1.12M $1.14M
$1.06M $1.05M $1.07M
Nov-22
Oct-23
Nov-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
200
24+
24+
24+
150
100
9.3
8.2
50
6.1
5.6
5.5
5.3
2.3
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.74M $1.75M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
MOI INVENTORY SALES
4 9 2.3
16 85 5.3
31 175 5.6
34 186 5.5
22 181 8.2
13 121 9.3
1 88 88.0
2 96 48.0
9 55 6.1
4 106 26.5
Copyright © 2023 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of December 11, 2023. All data from Victoria Real Estate Board & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
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