Inventory rebounds as real estate market stabilizes
More homes sold in January than the same month a year ago, as the Victoria Real Estate Board reports 2025 is off to a good start.
“Over the course of the month, we saw an uptick in new listings, and it is the first time in 10 years that over 1,000 new listings were added to our inventory in a January,” VREB Chair Dirk VanderWal said in a media release.
There were 2,395 active listings for sale at the end of January, an increase of 4.6% from December and an 11.9% increase from January 2024.
“There are strong fundamentals underpinning our market. Pricing remains stable, inventory levels are favourable when compared to recent years and interest rates continue to trend in a positive direction for consumers,” VanderWal said. “Of course, there may be uncertainty in the coming months as international trade relationships are tested, so we will track if these deliberations impact the market moving forward.”
The benchmark value for a single family home in January was $1,287,200, down from December’s value of $1,306,400. The benchmark value for a condominium was $551,900 in January, up from the December value of $547,800.
