highlights • A ctiveM LS listingsreached 2,207 in A pril,thefirsttim ethey’veeclipsed the2,200-m ark since July2019.Thism arked thehighestinventorylevelforthem onth since2015 (2,872 listings)and was24% abovethepast-decadeaverage(1,784).Inventoryforcondosand townhom eswere43% and 35% abovetheirlong-run averages,respectively,versus13% fordetached hom es. • Inventoryexpanded year-over-yearacros al hom etypes:detached hom esby50% (to 1,220), townhom esby59% (to242),and condosby57% (to745). • W ith thegrowth in inventoryoutpacingsalesforal hom etypes,therewassom eslightupward pres ureon m onthsofinventory(M O I).Stil,al hom etypesrem ained in selers’m arketter itory: detached (4.0 M O I),townhom es(3.0),and condos(3.8).
GREATERVICTORIA THERENNIEADVANCE inventory
APRIL2024
2,500
+ 50% vsApr2023
2,000
1,500
1,083 10 yrAprAvg
1,000
1,220
DETACHED inventory
500
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
+ 13% vs10yrAprAvg
﹍ 10 yrAprilAverage
● April
600
+ 59% vsApr2023
500
400
300
179 10 yrAprAvg
200
242
TOWNHOME inventory
100
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
+ 35% vs10yrAprAvg
﹍ 10 yrAprilAverage
● April
1,000
+ 57% vsApr2023
800
745
600
522 10 yrAprAvg
400
CONDO inventory
200
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
+ 43% vs10yrAprAvg
﹍ 10 yrAprilAverage
● April
Copyright© May1,2024renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMay1,2024.Aldatafrom theVictoriaRealEstate Board& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociates advisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
5
Made with FlippingBook - professional solution for displaying marketing and sales documents online