victoria DETACHED - NOVEMBER 2 0 2 3
MONTHS OF INVENTORY 4.9 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2022
▲ 4% VS 2022
▲ 48% VS 2022
▲ 19% VS 2022
There were 93 detached listings in Victoria in November, 7% below October and 48% higher than November 2022. November detached home sales increased by 36% month-over-month, to 19, and were 19% above November 2022. The months of inventory for detached in Victoria, at 4.9, reflected a sellers' market. The detached median price in November was $1,200,000, a 4% increase from October and 4% above November 2022. The average sold price was $1,274,911, 3% above last month and up 4% to November 2022.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
19 93
16 63
24% 19% 48%
$1,234,350 $1,149,500 7.1 14 100
3% 4% -31% 36% -7%
$1,274,911 $1,200,000 4.9
$1,224,675 $1,149,400 394%
4% 4%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
100
37
91
93
83
75
30
63
75
74
60
56
27
55
33
30
42
29
39
23
19
16
22
20
19
15
14
14
12
$1.43M $1.36M
$1.38M
$1.21M $1.24M $1.26M $1.27M
$1.15M
$1.15M $1.20M
$1.10M
$1.05M $1.12M
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
7.5
15
5.5
5.0
10
4.0
3.0
2.5
5
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
0 1 n/a
2 8 4.0
2 11 5.5
6 15 2.5
6 18 3.0
2 15 7.5
0 8 n/a
0 8 n/a
1 5 5.0
0 4 n/a
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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