INFOGRAPHICS: December 2023 VREB Victoria Market Reports
The 2023 Victoria real estate market year in review
A total of 329 properties sold in the Victoria Real Estate Board region this December, 2.8 per cent more than the 320 properties sold in December 2022 and a 16.5 per cent decrease from November 2023. Sales of condominiums were up 14.9 per cent from December 2022 with 108 units sold. Sales of single family homes increased 1.3 per cent from December 2022 with 158 sold.
A grand total of 6,207 properties sold over the course of 2023, 8.77 per cent fewer than the 6,804 sold in 2022.
“I’ve spoken a lot this year about our market’s return to traditional seasonal patterns,” said 2023 Victoria Real Estate Board Chair Graden Sol. “And at the conclusion of 2023 we can see that this trend continues.
This is a welcome relief for sellers and buyers after an extraordinary five years of real estate market disruption. Everyone benefits from a more predictable real estate market, so it is encouraging to see the rhythm of seasonal trends reestablished. If this continues into 2024, we should see more inventory added in January and February and an increase in sales as consumers prepare for the spring market. True to seasonal form, December met expectations and was a slow month, both for sales and for new listings.”
The following data is a comparison between December 2023 and December 2022 numbers, and is current as of January 2024. Click here to check out last month’s figures!
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