Victoria Market Report Infographics

Monday, September 5, 2022 7:33:49 PM UTC
INFOGRAPHICS: August 2022 VREB Victoria Market Reports

Less pressure on buyers in August in the Victoria real estate market

A total of 478 properties sold in the Victoria Real Estate Board region this August, 42.5 per cent fewer than the 831 properties sold in August 2021 and a 6.3 per cent decrease from July 2022. Sales of condominiums were down 57.1 per cent from August 2021 with 148 units sold. Sales of single family homes decreased 30.3 per cent from August 2021 with 249 sold.

“August is typically one of the slower months for real estate in the Greater Victoria area and this year was no exception,” says Victoria Real Estate Board President Karen Dinnie-Smyth. “After two years of market conditions that favoured home sellers, sales have diminished in the past few months and inventory levels have been slowly increasing.”

There were 2,137 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2022, a decrease of 1.2 per cent compared to the previous month of July but a 90.8 per cent increase from the 1,120 active listings for sale at the end of August 2021.

Read the full report on VREB website!

 


 

The following data is a comparison between August 2022 and August 2021 numbers, and is current as of September 2022. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – August 2022 VREB, Victoria Market Report

 

Victoria real estate board August stats


Custom real estate infographics published by myRealPage.com

Read Full Article...
INFOGRAPHICS: July 2022 VREB Victoria Market Reports

Shift in Victoria Real Estate market brings more time for buyers and sellers

A total of 510 properties sold in the Victoria Real Estate Board region this July, 38.9 per cent fewer than the 835 properties sold in July 2021 and a 16.7 per cent decrease from June 2022. Sales of condominiums were down 39.4 per cent from July 2021 with 172 units sold. Sales of single family homes decreased 35.9 per cent from July 2021 with 254 sold.

“We’d previously indicated a shift in the local housing market,” said 2022 VREB President Karen Dinnie-Smyth. “This continued be the case in July as sales dipped, and we saw fewer listings come to the market, with more of the existing inventory remaining for sale. This slowdown means a calmer and more friendly environment with time for decision-making, which benefits sellers and buyers and will be a relief to many.”

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 per cent compared to the previous month of June and a 70.2 per cent increase from the 1,270 active listings for sale at the end of July 2021.

Read the full report on VREB website!

 


 

The following data is a comparison between July 2022 and July 2021 numbers, and is current as of August 2022. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – July 2022 VREB, Victoria Market Report

 

Victoria real estate board July stats


Custom real estate infographics published by myRealPage.com

Read Full Article...
INFOGRAPHICS: June 2022 VREB Victoria Market Reports

Victoria’s hot housing market levels off, supply still important for long-term attainability

A total of 612 properties sold in the Victoria Real Estate Board region this June, 35 per cent fewer than the 942 properties sold in June 2021 and a 19.6 per cent decrease from May 2022. Sales of condominiums were down 40.2 per cent from June 2021 with 202 units sold.

Sales of single family homes decreased 31.4 per cent from June 2021 with 302 sold. “The market feels a bit more normal right now,” says Karen Dinnie-Smyth, 2022 Victoria Real Estate Board President. “We have seen more inventory come onto the market to the extent that we are back to numbers closer to those which we saw in pre-pandemic 2020. This is good news, as more inventory provides more choice and builds in more time for consumers to work with their REALTORS® to make decisions.”

There were 2,059 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of June 2022, an increase of 15.9 per cent compared to the previous month of May and a 49.7 per cent increase from the 1,375 active listings for sale at the end of June 2021.

Read the full report on VREB website!

 


 

The following data is a comparison between June 2022 and June 2021 numbers, and is current as of July 2022. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – June 2022 VREB, Victoria Market Report

 

 

 

 


Custom real estate infographics published by myRealPage.com

Read Full Article...
INFOGRAPHICS: May 2022 VREB Victoria Market Reports

Pace of the Greater Victoria real estate market steady into spring

A total of 761 properties sold in the Victoria Real Estate Board region this May, 27.5 per cent fewer than the 1,049 properties sold in May 2021 and a 7.6 per cent decrease from April 2022. Sales of condominiums were down 23.1 per cent from May 2021 with 250 units sold. Sales of single family homes decreased 31.7 per cent from May 2021 with 367 sold.

“The real estate market in Greater Victoria is returning to a steadier pace following the strange two years we experienced over the course of the pandemic,” said 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “While inventory is still below historical levels for a spring market, it is now within our pre-pandemic five-year average, which is good news for buyers. The increase in inventory provides buyers with more options, and we are seeing market activity and price points differ within the unique neighbourhoods that make up Greater Victoria. During a changing market like the one we see now, it is more important than ever to have an expert on your side – whether you are buying or selling it’s a great time to give your favourite REALTOR® a call.”

Read the full report on VREB website!

 


 

The following data is a comparison between May 2022 and May 2021 numbers, and is current as of June 2022. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – May 2022 VREB, Victoria Market Report

 

 

 

 


Custom real estate infographics published by myRealPage.com

Read Full Article...
INFOGRAPHICS: April 2022 VREB Victoria Market Reports

Spring is traditionally the busiest real estate season, but early on Victoria’s market sees a change in tempo

A total of 824 properties sold in the Victoria Real Estate Board region this April, 26.2 per cent fewer than the 1,116 properties sold in April 2021 and a 1.1 per cent decrease from March 2022. Sales of condominiums were down 20.8 per cent from April 2021 with 262 units sold. Sales of single family homes decreased 28.5 per cent from April 2021 with 403 sold.

“The past month concluded with notably lower sales when compared to April of last year,” said 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “This tells an interesting story because activity traditionally peaks over the course of the spring, and this year we have seen a gradual softening of the market. As we have reported many times in the past years, the market hinges on supply and demand. Rising interest rates and inflationary pressures on top of higher prices throughout the region have combined to introduce new market dynamics because of waning demand that consumers and their REALTORS® are now navigating. Our inventory levels remain well below historic averages, so prices remain buoyant because the supply is still much lower than this recent decrease in demand.”

There were 1,365 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of April 2022, an increase of 28.4 per cent compared to the previous month of March but a 6.1 per cent decrease from the 1,454 active listings for sale at the end of April 2021.

Read the full report on VREB website!

 


 

The following data is a comparison between April 2022 and April 2021 numbers, and is current as of May 2022. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – April 2022 VREB, Victoria Market Report

 

 

 

 


Custom real estate infographics published by myRealPage.com

Read Full Article...
INFOGRAPHICS: March 2022 VREB Victoria Market Reports

Victoria real estate market continues to experience low inventory and high demand

A total of 833 properties sold in the Victoria Real Estate Board region this March, 29 per cent fewer than the 1,173 properties sold in March 2021 but a 16 per cent increase from February 2022. Sales of condominiums were down 26 per cent from March 2021 with 279 units sold. Sales of single family homes decreased 28.2 per cent from March 2021 with 412 sold.

“Once again, we have had a record breaker of a month,” said 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “This March had the lowest number of active listings we have seen in a month of March – beating last year’s record low. For context, in the past five years the average number of active listings at the end of March is 1,864 properties. This March had just over one thousand properties at month end. We did see more homes come to market this month compared to February – which is a positive sign – but our supply is still so constricted that multiple offers and competition continues, especially in the lower price ranges. We may see a lift in that pressure if more listings come to market over the spring, but since our inventory is so much lower than average, we have a long way to go to find balance.”

There were 1,063 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of March 2022, an increase of 25.2 per cent compared to the previous month of February but an 18.9 per cent decrease from the 1,310 active listings for sale at the end of March 2021.

Read the full report on VREB website!

 


 

The following data is a comparison between March 2022 and March 2021 numbers, and is current as of March 2022. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – March 2022 VREB, Victoria Market Report

 

 

 

 


Custom real estate infographics published by myRealPage.com

Read Full Article...
INFOGRAPHICS: February 2022 VREB Victoria Market Reports

Record low inventory prevents Victoria real estate market from cooling-off

A total of 718 properties sold in the Victoria Real Estate Board region this February, 16.8 per cent fewer than the 863 properties sold in February 2021 but a 51.5 per cent increase from January 2021. Sales of condominiums were down 7.9 per cent from February 2021 with 267 units sold. Sales of single family homes decreased 20.8 per cent from February 2021 with 309 sold.

“It was heartening this month to see some more listings come to market in February,” said 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “However, inventory levels remain at record lows and without a strong government focus on increasing supply, buyers will continue to face escalating prices and difficult market conditions.”

There were 849 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of February 2022, an increase of 14.1 per cent compared to the previous month of January but a 35.6 per cent decrease from the 1,318 active listings for sale at the end of February 2021.

Read the full report on VREB website!

 


 

The following data is a comparison between February 2022 and February 2021 numbers, and is current as of March 2022. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – February 2022 VREB, Victoria Market Report

 

 

 

 


Custom real estate infographics published by myRealPage.com

Read Full Article...
INFOGRAPHICS: January 2022 VREB Victoria Market Reports

Limited inventory continues to be key in Victoria real estate market

A total of 474 properties sold in the Victoria Real Estate Board region this January, 26.6 per cent fewer than the 646 properties sold in January 2021 but an 8.2 per cent increase from December 2021. Sales of condominiums were down 13 per cent from January 2021 with 188 units sold. Sales of single family homes decreased 39.7 per cent from January 2021 with 179 sold.

“A cursory glance at our sales numbers could lead to the quick conclusion that our market is slowing down,” says 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “But what we must consider is not only the number of homes that have sold, but also the number of homes which were for available for sale within the month. To put our inventory into context, last year broke the record for lowest inventory for the month of January. This January broke that record nearly in half and that lack of supply in the market really impacts what our end sales numbers are. Had we seen more homes for sale, it’s likely our result would have been many more sales.”

There were 744 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2022, an increase of 14.1 per cent compared to the previous month of December and a 43.7 per cent decrease from the 1,321 active listings for sale at the end of January 2021.

Read the full report on VREB website!

 


 

The following data is a comparison between January 2022 and January 2021 numbers, and is current as of February 2022. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – December 2021 VREB, Victoria Market Report

 

 

 

 


Custom real estate infographics published by myRealPage.com

Read Full Article...
INFOGRAPHICS: December 2021 VREB Victoria Market Reports

The 2021 Victoria real estate market year in review

A total of 438 properties sold in the Victoria Real Estate Board region this December, 30.6 per cent fewer than the 631 properties sold in December 2020 and a 32.9 per cent decrease from November 2021. Sales of condominiums were down 22.1 per cent from December 2020 with 152 units sold. Sales of single family homes decreased 34.1 per cent from December 2020 with 207 sold.

A grand total of 10,052 properties sold over the course of 2021, 18.3 per cent more than the 8,497 that sold in 2020. 2021 sales came in close to 2016’s record breaking sales year where 10,622 properties were sold.

Read the full report on VREB website!

 


 

The following data is a comparison between December 2020 and December 2021 numbers, and is current as of January 2022. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – December 2021 VREB, Victoria Market Report

 

 

 

 


Custom real estate infographics published by myRealPage.com

Read Full Article...
INFOGRAPHICS: November 2021 VREB Victoria Market Reports

No change on the horizon for the Victoria real estate market

A total of 653 properties sold in the Victoria Real Estate Board region this November, 17.9 per cent fewer than the 795 properties sold in November 2020 and 12.3 per cent fewer than the previous month of October. 236 condominiums sold, 5.2 per cent fewer than in the previous month of October. 276 single family homes sold, 18.6 per cent fewer than in the previous month of October.

“Strong demand for housing in our community continues to exceed the ultra-low number of listings of homes available for sale,” said Victoria Real Estate Board President David Langlois. “This demand creates competition and pressure on pricing and we continue to see home values notch up. At this moment in time, there are fewer than 600 residential properties for sale in our market.”

Read the full report on VREB website!

 


 

The following data is a comparison between November 2020 and November 2021 numbers, and is current as of December 2021. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – November 2021 VREB, Victoria Market Report

 

 

 

 


Custom real estate infographics published by myRealPage.com

Read Full Article...
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.