““I’ve found that buyers and sellers are feeling optimistic right now,” said 2024 Victoria Real Estate Board Chair Laurie Lidstone. “With the steady decrease we’ve seen in interest rates and the continued balance in the market, consumers are feeling more comfortable and empowered to make the big decisions around home ownership knowing that they have a fairly stable real estate environment to navigate.”

There were 2,836 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of November 2024, a decrease of 10.3 per cent compared to the previous month of October and a 7.3 per cent increase from the 2,644 active listings for sale at the end of November 2023. “Though we did see inventory tick below three thousand listings, we are still in much better shape than in recent years in terms of availability of supply,” adds Chair Lidstone.

“Seasonality comes into play this time of year, and the closer we get to the new year, the more folks temporarily move their focus from house shopping to the holidays. That said, it’s likely the momentum we saw building in November will carry on in December to some extent.”” (VREB November Press Release – read full article here)

This month I am sharing the graphic of seasonally adjusted sales. The market recovery is continuing into November. In October, single family home sales were up and in November, condos and townhomes are following with an increase in  sales (shown below and circled in red).