In the News Blog

Tuesday, December 13, 2022   /   by Janine Thomson

November 2022 MLS Victoria Stats

 
A total of 384 properties sold in the Victoria Real Estate Board region this November, 41.2 per cent fewer than the 653 properties sold in November 2021 and 20 per cent fewer than in October 2022. Sales of condominiums were down 42.4 per cent from November 2021 with 136 units sold. Sales of single family homes decreased 34.1 per cent from November 2021 with 182 sold.
"November saw a significant decrease from last year in the number of home sales recorded, but this was expected as the market continues to settle after the record setting pace of 2021," says Victoria Real Estate Board President Karen Dinnie-Smyth. "With a small month over month decrease in price, the autumn market has returned to its traditional rhythm as we approach the holiday season. Inventory levels dipped slightly but remain well above this time last year, which is providing buyers with more options."
There were 2,111 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® ate ...

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Sunday, May 8, 2022   /   by Janine Thomson

Victoria’s market sees a change!

A total of 824 properties sold in the Victoria Real Estate Board region this April, 26.2 per cent fewer than the 1,116 properties sold in April 2021 and a 1.1 per cent decrease from March 2022. Sales of condominiums were down 20.8 per cent from April 2021 with 262 units sold. Sales of single family homes decreased 28.5 per cent from April 2021 with 403 sold.
"The past month concluded with notably lower sales when compared to April of last year," said 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. "This tells an interesting story because activity traditionally peaks over the course of the spring, and this year we have seen a gradual softening of the market. As we have reported many times in the past years, the market hinges on supply and demand. Rising interest rates and inflationary pressures on top of higher prices throughout the region have combined to introduce new market dynamics because of waning demand that consumers and their REALTORS® are now navigating. Our. ...

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Sunday, March 6, 2022   /   by Janine Thomson

Record low inventory prevents Victoria real estate market from cooling off

Victoria's February  2022 MlS Stats


Posted: March 6 2022







Record low inventory prevents Victoria real estate market from cooling off








CREDITS:  VREB (VICTORIA REAL ESTATE BOARD - March  1, 2022
A total of 718 properties sold in the Victoria Real Estate Board region this February, 16.8 per cent fewer than the 863 properties sold in February 2021 but a 51.5 per cent increase from January 2021. Sales of condominiums were down 7.9 per cent from February 2021 with 267 units sold. Sales of single family homes decreased 20.8 per cent from February 2021 with 309 sold."It was heartening this month to see some more listings come to market in February," said 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. "However, inventory levels remain at record lows and without a strong government focus on increasing supply, buyers will continue to face escalating prices and difficult market conditions."There were 849 active listings for sale ...

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Saturday, February 5, 2022   /   by Janine Thomson

Limited Inventory the Key Theme in Victoria

 A total of 474 properties sold in the Victoria Real Estate Board region this January, 26.6 per cent fewer than the 646 properties sold in January 2021 but an 8.2 per cent increase from December 2021. Sales of condominiums were down 13 per cent from January 2021 with 188 units sold. Sales of single family homes decreased 39.7 per cent from January 2021 with 179 sold.
"A cursory glance at our sales numbers could lead to the quick conclusion that our market is slowing down," says 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. "But what we must consider is not only the number of homes that have sold, but also the number of homes which were for available for sale within the month. To put our inventory into context, last year broke the record for lowest inventory for the month of January. This January broke that record nearly in half and that lack of supply in the market really impacts what our end sales numbers are. Had we seen more homes for sale, it's likely our resue ...

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Friday, January 14, 2022   /   by Janine Thomson

2021 Victoria Real Estate Market in Review

A total of 438 properties sold in the Victoria Real Estate Board region this December, 30.6 per cent fewer than the 631 properties sold in December 2020 and a 32.9 per cent decrease from November 2021. Sales of condominiums were down 22.1 per cent from December 2020 with 152 units sold. Sales of single family homes decreased 34.1 per cent from December 2020 with 207 sold.
                      
A grand total of 10,052 properties sold over the course of 2021, 18.3 per cent more than the 8,497 that sold in 2020. 2021 sales came in close to 2016’s record breaking sales year where 10,622 properties were sold.“The theme of this year has been very consistent,” says 2021 Victoria Real Estate Board President David Langlois. “Each month a high demand for homes paired with record low inventory has put strong pressure on pricing and attainability and has made the local and global housing market a top news item a) ...

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  real estate statistics, victoria real estate