A total of 761 properties sold in the Victoria Real Estate Board region this September, 23.1 per cent fewer than the 989 properties sold in September 2020 and 8.4 per cent fewer than the previous month of August. Condominium sales were up 9.3 per cent from September 2020 with 306 units sold. 11.3 per cent fewer condominiums sold in September 2021 than in the previous month of August. Sales of single family homes were down 38.6 per cent from September 2020 with 331 sold. 7.3 per cent fewer single family homes sold in September 2021 than in the previous month of August.
"We are in a situation this month that is very similar to last month," said Victoria Real Estate Board President David Langlois. "We have seen a lot of demand for homes of all types, but very little inventory come onto the market. And just like last month, it would be inaccurate to say that the market has slowed down and certainly an oversimplification to say the market is experiencing traditional seasonal slowing. What we are experiencing is a continued response to long-term low inventory levels.”
There were 1,124 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September 2021, 53 per cent fewer properties than the 2,389 available at the end of September 2020 but four properties more than the 1,120 active listings for sale at the end of August 2021.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in September 2020 was $879,700. The benchmark value for the same home in September 2021 increased by 25.1 per cent to $1,100,200, a 1 per cent increase from the previous month of August. The MLS® HPI benchmark value for a condominium in the Victoria Core in September 2020 was $482,000, while the benchmark value for the same condominium in September 2021 increased by 13.3 per cent to $545,900.
The graph below is for single family home prices in Greater Victoria over the past year
If you are considering buying or selling anywhere on the South Island,
call Lorne Tuplin today 250-217-4600!
Thinking about moving to Victoria?
As baby boomers continue to retire in ever increasing numbers and people from Vancouver sell their multi-million dollar homes and relocate here, prices will continue strong. There is no denying the incredibly strong pull to this Island Paradise!
I offer you leading edge technologies for your upcoming real estate transaction, while at the same time provide you with First Class Service!
Serving Greater Victoria and area. Call Lorne Tuplin for Langford Real Estate,
Colwood Real Estate, Metchosin Real Estate, Sidney Real Estate,
North Saanich Real Estate, Central Saanich Real Estate,
Saanich East Real Estate, Saanich West Real Estate,
View Royal Real Estate, Oak Bay Real Estate
Esquimalt Real Estate and Sooke Real Estate.
Call Lorne Tuplin to buy or sell Victoria Homes,
Victoria Real Estate, Victoria Condos,
Victoria Area Acreages, and Victoria Area Waterfront & Water view homes
RE/MAX Camosun, Victoria, British Columbia