Victoria Monthly Statistics Reports

Victoria real estate market shakes off winter doldrums

March 2, 2020  A total of 563 properties sold in the Victoria Real Estate Board region this February, 33.7 per cent more than the 421 properties sold in February 2019 and 37 per cent more than in January 2020. Sales of condominiums were up 35.7 per cent from February 2019 with 175 units sold. Sales of single family homes increased 23.7 per cent from January 2020 with 271 sold.

"February brought the bloom of an early spring market," says Victoria Real Estate Board President Sandi-Jo Ayers. "Sales numbers are up substantially from last year, which in part indicates that our spring market may have arrived a bit earlier than a lot of our local blossoms. Additionally, we need to consider that last year's sales activity was quite weak until April and May. Despite a thirty plus percent increase in total sales over last year, our ten-year average for total sales in February is 537, so we are within less than five per cent of our long-term average for the month."

There were 2,127 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of February 2020, 4 properties fewer than the total available at the end of February 2019 and an 8.6 per cent increase from the 1,958 active listings for sale at the end of January 2020.

"One of the most prominent aspects of our market right now is this continued low inventory," adds Ayers. "Our ten-year average active listings for the month of February is 3,007. We concluded this month with just over 2,000 active listings, which means a lot less choice for consumers, more pressure on pricing and multiple offers."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in February 2019 was $838,800. The benchmark value for the same home in February 2020 increased by 3.5 per cent to $868,100, 1.1 per cent more than January's value of $858,500. The MLS® HPI benchmark value for a condominium in the Victoria Core area in February 2019 was $503,600 while the benchmark value for the same condominium in February 2020 increased by 4.7 per cent to $527,400, 1.2 per cent more than the January value of $521,000.

About the Victoria Real Estate Board - Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards and innovative programs to enhance the professionalism of REALTORS®. The Victoria Real Estate Board represents 1,387 local Realtors. If you are thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing market.

View our press release and summary here.

Sold Properties, David Stevens Royal LePage

Langford Victoria sold by David Stevens
                      Langford                   Mt. Doug Saanich E                 

Sidney                Saanich East            Sidney
                                Saanich East                                                 

    Sold by David Stevens Saanich WestBrentwood home sold Benvenuto by David Stevens
Gonzalez Bay             Saanich West                              Brentwood Bay            Oak Bay/Jubilee

Alder St Condo sold by David StevensSonghees Condo sold by David Stevens
Saanich                              Westhills            Oak Bay                             Downtown

    Westhills Sold by David Stevens    

        Westhills                       Oak Bay
Condo Saanichton sold by David StevensTownhouse sold by David Stevens RLPRockland Condo Sold by David Stevens Esquimalt Family Home sold by David Stevens
                      Saanichton                         Saanichton                          Rockland                     Esquimalt                                                           

Condo downtown Victoria Saanich West Home sold by David Stevens, Royal LePage Victoria
  Downtown          Broadmead                           Saanich West                          Saanich West                                                

Brock Avenue, Langford Scott St Victoria Sold David Stevens  Sold by David Stevens
          Langford                     Oaklands                 Downtown                            Saanich East         

Driftwood, Sooke, Sold by David Stevens 402-75 Songhees, Victoria BC 3223 Ernhill Pl, Victoria, BC  
                 Oak Bay                         Sooke                                        Songhees                     Langford                      

2395 Setchfield Ave, VictoriaKerwood Ocean Front Lot Deltana , Victoria bcNorth Saanich Home sold by David Stevens
  Florence Lake                        View Royal                 Westshore                              N. Saanich

                         75 Songhees Sold by David StevensCordova Bay Home Sold by David Stevens Realtor
Songhees                   Cordova Bay                                       

If you are thinking about buying or selling a home, connect with me David Stevens, your local Realtor, for detailed information on the Victoria and area housing market.


NOTE: MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification. This website may only be used by consumers for the purpose of locating and purchasing real estate.