December 2025

December is here, and the holiday season is rapidly approaching. I wish you and your family all the best over the holidays, and a prosperous New Year!
The Victoria Real Estate market has remained stable over the last few months. Sales numbers dropped in November but that is typical as we near the end of the year. While interest rates are poised to remain unchanged in the coming months, and listing inventory on the higher side, prices continue to remain stable, which shows the resilience of the Victoria market. Not much is expected to change in the Greater Victoria market for the remainder of the year, and into 2026.

Below are some statistics for November 2025 throughout the Greater Victoria region

Listing Inventory:

There were 3,152 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of November 2025, a decrease of 7.9 % compared to the previous month of October and an 11.1 % increase from the 2,836 active listings for sale at the end of November 2024. Today’s elevated inventory is giving buyers exceptional selection, but it also puts pressure on sellers to price sharply to stand out. With roughly one in seven properties selling each month, proper pricing is essential for Sellers to attract viewings and offers.

Sales:

A total of 451 properties sold in the Victoria Real Estate Board region this November, 18.1 % fewer than the 551 properties sold in November 2024 and 26.9 % fewer than in October 2025. Sales of condominiums decreased by 36 % from November 2024 with 119 units sold. Sales of single-family homes decreased by 8.4 % from November 2024 with 241 sold. The sales numbers decreased considerable in November. Declining numbers towards the end of a year are not unusual, but with interest rates lower today than in 2024, this is unusual. The effects of the global and Canadian economic picture might be catching up with our local markets. The coming months should remain relatively unchanged, but it is hard to predict outcomes in these uncertain times.

Average Victoria Real Estate Prices:

The Multiple Listing Service® Home Price Index* benchmark value for a single family home in the Victoria Core in November 2024 was $1,313,900. The benchmark value for the same home in November 2025 decreased by 2.8 % to $1,276,700, down from October’s value of $1,280,100. The MLS® HPI benchmark value for a condominium in the Victoria Core area in November 2024 was $542,100, while the benchmark value for the same condominium in November 2025 increased by 2 % to $553,100, up from the October value of $549,000. Single-family home prices are not only lower than in 2024, but they also dipped slightly compared to October of this year. With inventory remaining high, sellers need to price accurately to capture buyer interest. Condo prices saw a small month-over-month increase, but condos continue to be more challenging to sell due to oversupply. Overall, prices across Greater Victoria have been relatively stable and are expected to remain this way for the foreseeable future.

For the full Victoria Real Estate Boards Statistical Package for 2025 click on the following link below

https://www.vreb.org/current-statistics#gsc.tab=0

The BC Tax Assessment Values are now out for 2025.
You can click on the link below to confirm your current assessed value. If you have any questions about these values, please reach out to me and I can do some research to verify if they are inline with the neighborhoods values.

https://www.bcassessment.ca/

Featured Listings:

113 1201 Nova Crt $749,800

 Step into contemporary elegance with this beautifully appointed 3-bedroom, 2-bath modern townhome — a perfect blend of design, comfort, and functionality. The open-concept layout is filled with natural light, featuring a sleek fireplace as the centerpiece of the living area. 14′ vaulted ceilings, quartz counters in kitchen, wide plank ,aminate flooring, natural gas stove and tankless hot water heater. Primary bedroom has ensuite and large walk-in closet. Enjoy seamless indoor-outdoor living with a private balcony and a spacious 267 sq/ft roof top deck with electrical, water and gas hookup, perfect for morning coffee or evening entertaining with sweeping forest and mountain views. The large carport offers convenient covered parking for 2 vehicles, and additional storage. Bonus 4’10” full crawlspace for storage. Thoughtfully designed with quality finishes throughout, this home delivers effortless modern living in a desirable location close to shopping, parks, and vibrant local amenities.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1018597-113-1201-nova-crt-langford-v9b-0t7.107266465

216-1375 Bear Mountain PKWY  $529,800

OPEN HOUSE SAT, DEC 13TH, 10:00AM-11:30AM. Located on Bear Mountain in the popular St. Andrew’s Walk. Quietly tucked away overlooking the 9th fairway, this beautifully updated 2 bed condo offers a rare blend of privacy and effortless living. Covered south-facing deck invites you to unwind as the afternoon sun shines bright into the suite, and enjoy the tranquil golf course views & the gentle flutter of hummingbirds. The gourmet kitchen, featuring granite counters & a comfortable eating island, flows effortlessly into the Living and Dining areas, creating a bright, open-concept space with a cozy electric fireplace. Updates includes quality wood floors, newer appliances, built-in cupboard organizers that maximize function and style, Murphy bed in 2nd bedroom. Lots of storage, bike area, and secure underground parking. A truly inviting home in a peaceful natural setting. Just Steps away from the Village, Westin Hotel & Spa, Athletic Club, & restaurants. Secure parking, Pets allowed

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1020510-216-1375-bear-mountain-pkwy-langford-v9b-0c9.107348919

1954 Polo Park Crt  $849,800

OPEN HOUSE SUNDAY, DECEMBER 14TH, 1-3PM. Impeccably presented and thoughtfully designed, this three-bedroom residence offers over 1,600 sq ft of refined living in one of Saanichton’s most convenient & desirable settings. Soaring ceilings & abundant natural light create an airy sense of space throughout. The gourmet kitchen features a corner island & breakfast area, perfect for casual mornings, while the spacious living and dining areas open seamlessly and lead to a private garden patio. The main-floor primary bedroom offers a spa-inspired ensuite with a soaker tub and separate shower and walk-in closet. Upstairs has two more spacious bedrooms and a main bathroom. A double garage and private driveway for 2 more cars complete the package. Lots of storage. Located just steps from shopping, cafés, and local amenities, and centrally located for easy commute to both Sidney and Victoria, this exceptional home blends comfort, lifestyle, and location in perfect harmony.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1020418-1954-polo-park-crt-central-saanich-v8m-2k1.107348968

 Lot A 265 Trans Canada Hwy  $3,999,800

Moon Water Lodge is a beautiful west coast designed boutique Hotel situated on a special 9.58acre parcel with spectacular panoramic ocean and mountain views of Finlayson Arm and Mt. Finlayson. The business is running very well and is quite self sufficient. 8400 sq/ft on 4 levels with 14 rooms with potential to expand as lowest level is unfinished. Sale includes the business, building and land. The large acreage has great potential as well. Hotel was built in 2002. The rooms are all positioned to take advantage of the views, with kitchenettes, propane fireplaces, soaker tubs. Real Estate and Business are included in sale. All Business equipment, supplies and web site are included. Serviced by septic treatment plant and drilled well. Located next door to the Malahat Chalet restaurant. Call for appointment.

View Listing here  https://dalesheppard.com/search-listings/featured-listings/#!listing.1015717-lot-a-265-trans-canada-hwy-malahat-v0r-2l0.107100197

We closely monitor the Victoria BC real estate market. If you or any of your family or friends require related information, feel free to contact Dale at 250-744-0844, or email him through his website: www.dalesheppard.com

The information contained in this blog is for general information purposes only. The information is provided by Dale Sheppard and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.

The post Victoria Real Estate Market Update-December 2025 appeared first on Dale Sheppard.

What is a CMA?

A Comparative Market Analysis (CMA) is a comprehensive evaluation tool used in real estate to estimate a property’s market value by comparing it to similar properties that have recently sold, are currently for sale, or were listed but didn’t sell in the same area.

Purpose and Benefits

For Sellers:

• Determines competitive and realistic listing prices
• Sets proper expectations for sale timeline and final sale price
• Helps avoid overpricing (which can lead to extended time on market) or underpricing (which can result in lost equity)

For Buyers:

• Provides insight into fair market value for properties of interest
• Supports informed offer decisions
• Helps identify good value opportunities in the market

Key Components of a CMA

Comparable Properties (“Comps”)

• Recently Sold Properties: Homes that closed within the last 3-6 months
• Active Listings: Properties currently for sale in the area
• Expired/Withdrawn Listings: Properties that failed to sell, indicating potential overpricing

Property Characteristics Analyzed

• Location and neighborhood
• Square footage and lot size
• Number of bedrooms and bathrooms
• Age and condition of the property
• Architectural style and features
• Recent improvements or renovations
• Garage and parking availability

Market Conditions

• Current supply and demand trends
• Average days on market
• Price trends (increasing, stable, or declining)
• Seasonal market fluctuations
• Economic factors affecting the local market

How CMAs are Created

1. Property Research: Gathering detailed information about the subject property
2. Comparable Selection: Identifying 3-6 similar properties within a reasonable distance
3. Adjustment Analysis: Accounting for differences between the subject property and comparables
4. Market Trend Analysis: Considering current market conditions and recent changes
5. Value Range Determination: Establishing a likely price range based on all factors

Who Provides CMAs

• Real Estate Agents: Most commonly prepared by licensed agents as part of their services
• Real Estate Brokers: Senior professionals with additional market expertise
• Appraisers: Professional appraisers for more formal valuations
• Online Tools: Automated valuation models (AVMs) for preliminary estimates

When to Use a CMA

For Selling:

• Before listing your property
• When considering refinancing
• For estate planning or divorce proceedings
• When evaluating home improvement ROI

For Buying:

• Before making an offer on a property
• When negotiating price reductions
• To understand neighborhood value trends

Limitations and Considerations

• CMAs provide estimates, not definitive appraisals
• Market conditions can change rapidly
• Unique property features may be difficult to compare
• Local market knowledge and expertise significantly impact accuracy
• Should be updated regularly as market conditions evolve

Best Practices

• Use recent sales data (within 3-6 months when possible)
• Select truly comparable properties in terms of size, condition, and location
• Consider multiple data points rather than relying on a single comparable
• Factor in current market trends and conditions
• Work with experienced local real estate professionals for most accurate results

Note: While CMAs provide valuable market insights, they should be used in conjunction with professional real estate advice for important financial decisions.

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September 2024

Victoria’s Summer real estate market is coming to an end and the Fall market transition has begun. Activity has picked over the last few weeks, which it typically does after the kids have returned to school and summer holidays have ended. The recent Bank of Canada interest rate drop should also bring more buyers into the market this fall.

Below are some of the statistics for August 2024

Listing Inventory:

There were 3,191 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2024, a decrease of 4.7 % compared to the previous month of July and a 28.2 % increase from the 2,490 active listings for sale at the end of August 2023. Listing inventory is still on the higher side, so the market remains stable but more in favour of Buyers. Sellers need to be well priced, as only about 1 in 6 homes are selling per month at this time.

Sales:

A total of 545 properties sold in the Victoria Real Estate Board region this August, 0.2 % more than the 544 properties sold in August 2023 and a 16.5 % decrease from July 2024. Sales of condominiums were up 10.4 % from August 2023 with 181 units sold. Sales of single family homes decreased by 7.7 % from August 2023 with 252 sold. Overall sales have remained stable, but lower than seasonal averages. Higher interest rates have definitely taken their toll on Buyers entering the market over the last year. With rates dropping, the market could see an increase in sales this fall.

Average Prices:

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in August 2023 was $1,327,800. The benchmark value for the same home in August 2024 decreased by 3 % to $1,287,400, down from July’s value of $1,296,100. The MLS® HPI benchmark value for a condominium in the Victoria Core area in August 2023 was $575,900 while the benchmark value for the same condominium in August 2024 decreased by 2.9 % to $559,200, down from the July value of $567,800. Prices are down about 3% from a year ago but have remained relatively stable over the last few months and this trend should continue throughout the remainder of 2024.

If you or any of your family or friends require any real estate related information, feel free to contact Dale at 250-744-0844, or email him through his website: www.dalesheppard.com

The information contained in this blog is for general information purposes only. The information is provided by Dale Sheppard and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.

The post Victoria Real Estate Market Update-September 2024 appeared first on Dale Sheppard.

Government & Military

Relocation Services

Are you relocating to or from Victoria?

Dale Sheppard is a Brookfield ‘BGRS’ approved Realtor, and has successfully assisted several families in relocating to Victoria BC for military, government and business purposes. Call Dale for help with your relocation!

Dale’s Personal Assistant, Terri – has been posted to several bases in Canada and outside of Canada during her 25 years as a Military Spouse.  Terri knows firsthand how a move to another location can seem stressful, but will help guide you through the ins and outs of moving with the Government and connecting with your new Location.

“I am born and raised in Victoria, and having raised my own family in the greater Victoria region, I am very familiar with all neighbourhoods throughout the Capital Regional District as well as the surrounding municipalities and towns. I look forward to meeting you.” – Dale

Dale

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September 2023

The Victoria real estate market has remained steady this summer. Inventory of homes on the market is still well below historic averages for this time of the year. Increased interest rates have slowed certain sectors of the market, but overall, prices have remained firm due to the lack of supply combined with the desire for Buyers across the country to move to the Island. The Bank of Canada’s September 6th decision to hold rates steady should help the market over the next few months. However, the slowing economy, and refinancing of mortgages to the new higher rates in the coming months may slow the market into the late fall. We are in a somewhat unpredictable market at this time, yet Victoria has remained resilient so far…

Below are some of the statistics for August 2023

Listing Inventory:

There were 2,490 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2023, an increase of 2.9 % compared to the previous month of July and a 16.5 % increase from the 2,137 active listings for sale at the end of August 2022. While up significantly from one year ago, the inventory is about 50% of what it was 10 years ago during the last slow down. Without an increased supply of homes, prices will should remain largely unaffected by the current interest rate levels.

Sales:

A total of 544 properties sold in the Victoria Real Estate Board region this August, 13.8 % more than the 478 properties sold in August 2022 and an 8.6 % decrease from July 2023. Sales of condominiums were up 10.8 % from August 2022 with 164 units sold. Sales of single family homes increased 9.6 % from August 2022 with 273 sold. The drop in sales from July to August is a typical seasonal trend as August is the last month of the summer for holidays before the fall school season, so the market tends to be slower in August. However, sales are up significantly from a year ago, so the overall numbers are pretty good for an August.

Average Prices:

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in August 2022 was $1,327,700. The benchmark value for the same home in August 2023 decreased by 0.3 % to $1,323,900, which is up from July’s value of $1,318,800. The MLS® HPI benchmark value for a condominium in the Victoria Core area in August 2022 was $583,700, while the benchmark value for the same condominium in August 2023 decreased by 0.3 % to $582,000, which is up from the July value of $578,000. Prices are now relatively unchanged from one year ago, as overall average prices have gently increased over the last few months, so the overall pricing currently is steady. The increases are very small, so I would say this is a fairly balanced market we are currently experiencing. Some areas are slower depending on the price point, and if the range is affected by Buyers unable to afford homes due to the higher interest rates.

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If you or any of your family or friends require any real estate related information, feel free to contact Dale at 250-744-0844, or email him through his website: www.dalesheppard.com

The information contained in this blog is for general information purposes only. The information is provided by Dale Sheppard and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.

The post Victoria Real Estate Market Update-September 2023 appeared first on Dale Sheppard.

OCTOBER 2022

The Victoria Real Estate market has slowed this Summer but I do not foresee any catastrophic collapse. Sales have slowed significantly over the last few months and Buyers and Sellers are now taking days to put deals together as apposed to hours in the Spring. Currently there is no urgency to act quickly, and unless your home is very well priced, it will be overlooked in this market, as only about 1 in 5 homes are now selling per month, compared to about 1 in 2 in the early part of the year. The main reason for the rapid change is the high interest rates. The Bank of Canada is poised to increase rates even further at the next meeting later this month, which is expected to keep the market slow for the rest of the year and into 2023. Prices have been dropping but not drastically. It is a more balanced market for everyone involved and should continue like this for the foreseeable future.

Below are some of the statistics for September, 2022

Listing Inventory:

There were 2,300 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September 2022, an increase of 7.6 % compared to the previous month of August and a 104.% increase from the 1,124 active listings for sale at the end of September 2021. This increased inventory is giving Buyers more choice, and with only 410 sales in September, Sellers must be priced competitively to attract Buyers.

Sales:

A total of 410 properties sold in the Victoria Real Estate Board region this September, 46.1 per cent fewer than the 761 properties sold in September 2021 and a 14.2 % decrease from August 2022. Sales of condominiums were down 58.8 % from September 2021 with 126 units sold. Sales of single family homes decreased 33.2 % from September 2021 with 221 sold. These low sales numbers are mainly due to the high interest rates. With 5 year rates over 5%, this dramatic increase in rates over the last 5 months has taken a lot of Buyers out of the market.

Average Prices:

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in September 2021 was $1,201,100. The benchmark value for the same home in September 2022 increased by 13.6 % to $1,364,200 but was down 2 % from August’s value of $1,391,700. The MLS® HPI benchmark value for a condominium in the Victoria Core area in September 2021 was $519,200, while the benchmark value for the same condominium in September 2022 increased by 18.9 % to $617,400, down by 0.7 % from the August value of $621,900. These price drops are a direct result of the textbook supply – demand economics. The lower Buyer demand coupled with higher listing Supply usually leads to a drop in prices. This current supply demand imbalance is expected to continue while interest rates remain high.

If you or any of your family or friends require any real estate related information, feel free to contact Dale at 250-744-0844, or email him through his website: www.dalesheppard.com

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AUGUST 2022

Hope your summer is going well. The weather has been great and summer holidays are in full swing. Not much to report this month other than the continued slow down in sales and softening of prices predominantly created from the large interest rate increases over the last 2 months. With predictions of further increases in September, the market is poised to remain slower for the balance of the year.

Below are some of the statistics for July 2022

Listing Inventory:

There were 2,162 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of July 2022, an increase of 5 % compared to the previous month of June and a 70.2 %  increase from the 1,270 active listings for sale at the end of July 2021. This increase in listing inventory is great for Buyers and should continue to increase further into September and beyond.

Sales:

A total of 510 properties sold in the Victoria Real Estate Board region this July, 38.9 % fewer than the 835 properties sold in July 2021 and a 16.7 % decrease from June 2022. Sales of condominiums were down 39.4 % from July 2021 with 172 units sold. Sales of single family homes decreased 35.9 %  from July 2021 with 254 sold. While the over all sales numbers are lower this year, the 2021 high sales numbers were an anomaly for the summer market.  However, these current summer sales figures are below average, and again, the high interest rates seem to be the main reason.

Average Prices:

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in July 2021 was $1,204,900. The benchmark value for the same home in July 2022 increased by 19% to $1,433,800 but was down 2.1 % from June’s value of $1,464,400. The MLS® HPI benchmark value for a condominium in the Victoria Core area in July 2021 was $502,600, while the benchmark value for the same condominium in July 2022 increased by 27.3 %  to $639,600, down by 0.5 %  from the June value of $643,100. While these latest price drops from June to July are not that high statistically, we are seeing a larger number of price reductions for existing homes, and most homes are taking much longer to sell. Also, the eventual selling prices are quite lower than they were a few months ago in most markets throughout Greater Victoria. Buyers are definitely in the driver’s seat at this time.

In the meantime, enjoy the rest of the summer. The weather is supposed to remain sunny for the next while, so enjoy your time with family and Friends.

If you or any of your family or friends require any real estate related information, feel free to contact Dale at 250-744-0844, or email him through his website: www.dalesheppard.com

The post Victoria Real Estate Market Update-August 2022 appeared first on Dale Sheppard.

December 2021:

As we approach the holiday season I wanted to Thank you all for an amazing 2021 and wish you and your families health and happiness through the holidays and into the New Year. I hope that 2022 brings better news for the pandemic, and we can start to get back to some type of normalcy with Family and Friends. Enjoy some much needed time off and stay safe.

There seems to be no change on the horizon for the Victoria real estate market. With low inventory, high prices and continued multiple buyer interest for new listings, the overall conditions will stay the same for a few months. However, with inflation numbers increasing, and the bank of Canada hinting at spring interest rate hikes, we could see some market changes by late spring 2022. Stay tuned…

Below are the statistics for the month of November 2021.

Listing Inventory:

There were 887 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of November 2021, 51.1 % fewer properties than the 1,813 available at the end of November 2020 and 14.4 % fewer properties than the 1,036 active listings for sale at the end of October 2021. Unless inventory increase, prices will remain high.

Sales:

A total of 653 properties sold in the Victoria Real Estate Board region this November, 17.9 % fewer than the 795 properties sold in November 2020 and 12.3 % fewer than the previous month of October. 236 condominiums sold, 5.2 % fewer than in the previous month of October. 276 single family homes sold, 18.6 % fewer than in the previous month of October. The only reason sales are lower is due to the lack of new listings coming on the market. There are plenty of buyers looking for homes in our market.

Average Prices:

­­The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in November 2020 was $903,700. The benchmark value for the same home in November 2021 increased by 24.2 % to $1,122,600, a 1.7 % increase from the previous month of October. The MLS® HPI benchmark value for a condominium in the Victoria Core in November 2020 was $485,100, while the benchmark value for the same condominium in November 2021 increased by 15.6 % to $560,700. Again, low inventory, high demand for properties, and low interest rates will create continued high prices into 2022.

View Full Statistics Package

https://www.vreb.org/pdf/VREBNewsReleaseFull.pdf

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November 2021:

The Greater Victoria real estate market is experiencing unprecedented times due mainly to the lack of listing inventory which is putting a significant strain on the housing market. With so few homes available, sales have decreased while prices are still heading in an upward direction, creating a frustrating environment for buyers trying desperately to find homes for their families. I have never seen a market like this and there appears to be no signs of it changing for months to come. The one game changer appears to be inflation. If the current inflation levels increase further, then the Bank of Canada will have no choice but to increase interest rates sooner than anticipated, which usually leads to a slow down of the housing market with increased listing inventory resulting in a decrease in prices. Eventually this will happen but when is the big unknown at this time. In the meantime, enjoy the November rain and try to stay dry.

Below are the statistics for the month of September 2021.

Listing Inventory:

There were 1,036 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of October 2021, 51.2 % fewer properties than the 2,122 available at the end of October 2020 and 7.8 % fewer properties than the 1,124 active listings for sale at the end of September 2021. The benchmark 10 year average is 3200 listings at this time. There are currently under 1000 listings on the market in all categories and prices on the lower island. This downward spiral of inventory is not sustainable, and is only putting unwarranted increases in pricing and making it very difficult for buyers. If you are selling and not buying in this market, then you couldn’t have picked a better time to sell.

Sales:

A total of 745 properties sold in the Victoria Real Estate Board region this October, 24.7 % fewer than the 990 properties sold in October 2020 and 2.1 % fewer than the previous month of September. Condominium sales were down 18.1 % from October 2020 with 249 units sold. 18.6 % fewer condominiums sold in October 2021 than in the previous month of September. Sales of single family homes were down 30.4 %  from October 2020 with 339 sold. 2.4 % more single family homes sold in October 2021 than in the previous month of September. I believe that the only reason for the decrease in sales numbers is due to the decrease in the number of homes for sale. There appears to be a significant number of buyers from our area and from across Canada and abroad that are all wanting to buy real estate in our region but have no selection to choose from.

Average Prices:

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in October 2020 was $880,500. The benchmark value for the same home in October 2021 increased by 25.3 % to $1,103,600, a 0.3 % increase from the previous month of September. The MLS® HPI benchmark value for a condominium in the Victoria Core in October 2020 was $482,200, while the benchmark value for the same condominium in October 2021 increased by 14.4 % to $551,800. Again, condos are leading the way for price increases due to the affordability level. Yet single family home prices still increased slightly from the previous month and significantly from one year ago. Who would have thought that almost 2 years in from COVID that the average price for a home in Victoria would be over $1.1million! As john Lennon would say, strange days indeed.

View Full Statistics Package

https://www.vreb.org/pdf/VREBNewsReleaseFull.pdf

Victoria Historical Statistics

https://www.vreb.org/historical-statistics#gsc.tab=0

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