highlights • Therewere1,550 activeM LS listingslastm onth— down 0.5% com pared toD ecem ber,which ran oppositeto thetypicalseasonalexpansion of8%.Totallistingsattheend oflastm onth were9% abovethepast-decadeJanuaryaverage(of1,424),and were21% higherthan oneyearago. • O n am onth-over-m onth basis,detached hom einventorywasdown by3%,whiletownhom eand condo inventorywereup by5% and 0.2% respectively.O n ayear-over-yearbasis,detached, townhom e,and condoinventorieswereal higher(by15%,26%,and 29%,respectively). • O veral conditionswerebalanced in January,with therebeing5.0 m onthsofinventory(M O I) supplyingthem arket.Thedetached segm entwasbalanced,with an M O Iof5.2,whilethe townhom eand condo segm entsfavoured selers,with M O Isof4.8 and 4.9,respectively.
GREATERVICTORIA THERENNIEADVANCE inventory
JANUARY2024
2,500
+ 15% vsJan2023
2,000
1,500
803 10 yr Jan Avg
1,000
DETACHED inventory
777
500
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
- 3% vs10yrJanAvg
﹍ 10 yrJanuaryAverage
● January
600
+ 26% vsJan2023
500
400
300
201 10 yr Jan Avg
200
236
TOWNHOME inventory
100
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
+ 17% vs10yrJanAvg
﹍ 10 yrJanuaryAverage
● January
1,000
+ 29% vsJan2023
800
600
420 10 yr Jan Avg
537
400
CONDO inventory
200
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
+ 28% vs10yrJanAvg
﹍ 10 yrJanuaryAverage
● January
Copyright© February1,2024renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofFebruary1,2024.Aldatafrom theVictoriaReal EstateBoard& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ation shouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom aren ieand as ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
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