A total of 320 properties sold in the Victoria Real Estate Board region this December, 26.9 per cent fewer than the 438 properties sold in December 2021 and a 16.7 per cent decrease from November 2022. Sales of condominiums were down 38.2 per cent from December 2021 with 94 units sold. Sales of single family homes decreased 24.6 per cent from December 2021 with 156 sold.
A grand total of 6,804 properties sold over the course of 2022, 32.3 per cent fewer than the 10,052 that sold in 2021. 2022 sales came closest to 2014’s sales year when 6,698 properties were sold.
There were 1,688 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of December 2022, a decrease of 20 per cent compared to the previous month of November but a 158.9 per cent increase from the 652 active listings for sale at the end of December 2021.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in December 2021 was $1,262,600. The benchmark value for the same home in December 2022 increased by 1.7 per cent to $1,283,600, down from November’s value of $1,307,100. The MLS® HPI benchmark value for a condominium in the Victoria Core area in December 2021 was $544,100, while the benchmark value for the same condominium in December 2022 increased by 5.6 per cent to $574,300, down from the November value of $587,800.
The graph below is for single family home prices in Greater Victoria over the past year
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