highlights • Therewere2,041 activeM LS listingslastm onth— down 5% com pared toO ctober,butbyles than thetypicalseasonalcontraction of10%.Totallistingsattheend oflastm onth were20% abovethepast-decadeN ovem beraverage(of1,706),and were29% higherthan oneyearago. • O n am onth-over-m onth basis,inventoryforground-oriented hom esdeclined:detached hom e inventorywasdown by10% and townhom einventorywasdown 2%;m eanwhile,condoinventory wasup 3%.O n ayear-over-yearbasis,detached,townhom e,and condo inventorieswereal higher (by21% ,20% ,and 48% ,respectively). • O veral conditionswerebalanced in N ovem ber,with therebeing5.8 m onthsofinventory(M O I) supplyingthem arket.Thedetached and condosegm entswerebalanced,with M O Isof6.3 and 5.8,respectively,whilethetownhom esegm entfavoured selers,with an M O Iof4.6.
GREATERVICTORIA THERENNIEADVANCE inventory
NOVEMBER 2023
2,500
+ 21% vsN ov2022
2,000
1,500
991 10 yrNovAvg
1,000
1,074
DETACHED inventory
500
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0
+ 8% vs10yrN ovAvg
● November ﹍ 10 yrN ovem berAverage
600
+ 20% vsN ov2022
500
400
300
233 10 yrNovAvg
287
200
TOWNHOME inventory
100
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0
+ 34% vs10yrN ovAvg
● November ﹍ 10 yrN ovem berAverage
1,000
+ 48% vsN ov2022
800
600
680
482 10 yrNovAvg
400
CONDO inventory
200
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0
+ 41% vs10yrN ovAvg
● November ﹍ 10 yrN ovem berAverage
Copyright© Decem ber1,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofDecem ber1,2023.Aldatafrom theVictoria RealEstateBoard& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ation shouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieand as ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
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