July 2017 MLS Statistics

Here are the highlights of the current MLS statistics:

  • Homes priced at the lower end of the market (Less than $700,000) were in high demand, many of which saw multiple offers
  • 790 properties sold this July, compared to 972 in July last year
  • The ten year average for July sales is just over 700 properties, which speaks to the ongoing demand for homes in Victoria
  • Low supply continues to put pressure on pricing and availability
  • Benchmark value for single family homes in the Victoria core is $834,200 (up 13.1% from July 2016)
  Goldstream Provincial Park

Goldstream Provincial Park

June 2017 MLS Statistics

Here are the highlights of the current MLS statistics:

  • 1,008 properties sold this June, compared to 1,174 in June 2016 and a ten-year average of 798
  • Inventory is slowly starting to build, but continue to expect multiple offer situations in higher demand neighbourhoods
  • It is an excellent time to sell with record high prices
  • Benchmark value for a single family home in the Victoria Core is $829,600 (up 15.1% from June 2016)
  Inner Harbor, Victoria BC

Inner Harbor, Victoria BC

May 2017 MLS Statistics

Here are the highlights of the current MLS statistics:

  • We are finally beginning to see an increase in inventory, which means more choice for buyers
  • The number of active listings have increased by 12.2% compared to April 2017, but there are 21.2% fewer listings than May 2016
  • Pressure on pricing is easing as more properties are introduced to the market
  • Benchmark value for a single family home in the Victoria core is $825,500 (up 16.8% from May 2016)

Read the Victoria Real Estate Board’s full article here.

  The Gorge, Victoria BC

The Gorge, Victoria BC

April 2017 MLS Statistics

Here are the highlights of the current MLS statistics:

  • April numbers indicate a gradual shift toward balanced market conditions
  • There are hints of a more traditional spring market as more homes were listed for sale compared to March
  • Inventory remains low, so multiple offer situations are not unlikely in higher demand areas of the city
  • Benchmark value for a single family home in the Victoria Core in $805,100 (up 17.6% from April 2016)

Read the Victoria Real Estate Board’s full article at vreb.org.

March 2017 MLS Statistics

Here are the highlights of the current MLS statistics:

  • The market is still very active
  • Second highest March on record next to 2016
  • Benchmark value for a single family home in the Victoria Core is $790,100 (up 19.1% from March 2016)
  • Even in this climate, homes can sit unsold for months without the help of a Realtor who understands current demand and pricing

Read the Victoria Real Estate Board’s full article here.