RSS Monthly Market Stats: Dec 2023 Posted on January 22, 2024 by Matt Peulen Hello, I hope you're have a great week! Please see the below Real Estate Market Stats for December 2023. Key Insights: Positive growth in the condominium market. Steady demand for single-family homes. Seasonal fluctuations typical in sales figures. Overall annual sales show a slight dip in total sales. Active listings decreased from the previous month but significantly increased year-over-year. Benchmark values for single-family homes increased year-over-year, while condominium values saw a slight decrease. December 2023 Market Overview: Greater Victoria Total Sales: 329 properties sold in the Victoria Real Estate Board region. Yearly Comparison Sales: Increase of 2.8% from December 2022 (320 properties sold). November to December Sales: Decrease of 16.5% from November 2023. Condominium Sales: 108 units sold, up 14.9% from December 2022. Single-Family Home Sales: 158 homes sold, a 1.3% increase from December 2022. Annual Sales Total for 2023: 6,207 properties sold. Represents an 8.77% decrease from the 6,804 sold in 2022. Saanich Peninsula: MLS® Home Price Index Benchmark Values Single-Family Homes (Peninsula): December 2022 Benchmark: $1,166,700. December 2023 Benchmark: $1,230,700 (5.5% increase). Up from November 2023 value of $1,226,300. Condominiums (Peninsula): December 2022 Benchmark: $623,200. December 2023 Benchmark: $646,700 (3.8% increase). Down from November value of $646,200. Victoria Core: MLS® Home Price Index Benchmark Values Single-Family Homes (Victoria Core): December 2022 Benchmark: $1,236,500. December 2023 Benchmark: $1,268,000 (2.5% increase). Down from November 2023 value of $1,286,400. Condominiums (Victoria Core): December 2022 Benchmark: $565,800. December 2023 Benchmark: $562,000 (0.7% decrease). Down from November value of $577,400. Active Listings and Inventory: Active Listings at End of December 2023: 2,132 active listings on the Victoria Real Estate Board Multiple Listing Service®. Yearly Comparison: Increase of 26.3% from 1,688 active listings at the end of December 2022. Monthly Comparison: Decrease of 19.4% from November 2023.