Victoria Real Estate Wrap-Up: A Look Back at 2023 and What’s Ahead
As 2023 drew to a close, the Victoria Real Estate market showcased a mix of trends, with December sales totaling 329 properties – a 2.8% uptick from the previous year but a 16.5% dip from November 2023’s bustling activity.
Condos stole the spotlight, boasting a 14.9% increase in sales (108 units), while single-family homes saw a modest 1.3% rise (158 sold). This return to seasonal patterns is welcomed, providing relief for both sellers and buyers after years of market disruption.
The annual report for 2023 reveals 6,207 properties sold, an 8.77% decrease from the robust 6,804 in 2022. Interest rates seem to be a major player, impacting purchasing power but highlighting continued housing demand.
Active listings in December 2023 totaled 2,132 – down 19.4% from November but up 26.3% from December 2022.
Looking forward, 2024 looks optimistic, anticipating increased inventory and heightened sales. If you are considering real estate moves in 2024, be sure to consult with your local Realtor for a personalized strategy. Here’s to a promising year ahead!
