highlights • Therewere2,141 activeM LS listingslastm onth,which was(onceagain)thehighestofanym onth since Septem ber2019.Com pared toSeptem ber,inventoryincreased in O ctober(by1.0%)com pared tothetypical seasonalpatern ofan 8% decrease.Totallistingsattheend oflastm onth were9% abovethepast-decade O ctoberaverage(of1,956),and were27% higherthan oneyearago. • O n am onth-over-m onth basis,inventoryform ulti-fam ilyhom esexpanded:townhom einventorywasup 3% and condoinventorywasup 8%;m eanwhile,detached hom einventorywasdown 3%.O n ayear-over-year basis,detached,townhom e,and condo inventorieswereal higher(by25%,18%,and 36%,respectively). • O veral conditionswerebalanced in O ctober,with therebeing5.9 m onthsofinventory(M O I)supplyingthe m arket.Thedetached and townhom esegm entswerebalanced,with M O Isof6.8 and 5.6,respectively,while thecondosegm entfavoured selers,with an M O Iof4.8.Al hom etypessaw an expansion ofM O Iin O ctober versusSeptem ber.
GREATERVICTORIA THERENNIEADVANCE inventory
OCTOBER 2023
2,500
+ 25% vsOct2022
2,000
1,500
1,097 10 yrOctAvg
1,000
1,188
DETACHED inventory
500
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0
+ 8% vs10yrOctAvg
﹍ 10 yrO ctoberAverage
● October
600
+ 18% vsOct2022
500
400
300
263 10 yrOctAvg
292
200
TOWNHOME inventory
100
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0
+ 13% vs10yrOctAvg
﹍ 10 yrO ctoberAverage
● October
1,000
+ 35.7% vsOct2022
800
600
661
528 10 yrOctAvg
400
CONDO inventory
200
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0
+ 25% vs10yrOctAvg
﹍ 10 yrO ctoberAverage
● October
Copyright© Novem ber2,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber2,2023.Aldatafrom theVictoria RealEstateBoard & Rennie.W hiletheinform ationand datacontained hereinhasbe nobtained from sourcesde m ed reliable,ac uracycannotbeguarante d.ren iegroup ofcom 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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