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Victoria Monthly Statistics Reports

November 1, 2019

Victoria Real Estate market impacted by low inventory, consistent demand

A total of 619 properties sold in the Victoria Real Estate Board region this October, 3.5 per cent more than the 598 properties sold in October 2018 and a 0.5 per cent increase from September 2019. Sales of condominiums were down 1.1 per cent from October 2018 with 178 units sold. Sales of single family homes increased 10 per cent from October 2018 with 318 sold.

“This month’s overall numbers are very similar to the numbers we saw last year," says Victoria Real Estate Board President Cheryl Woolley.“It’s interesting that last month we saw a large uptick in condo sales, but this month is fairly flat when compared to last year. This shows that we are not yet seeing a trend in property types.

There were 2,643 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of October 2019, a decrease of 6.4 per cent compared to the month of September, but a 5.3per cent increase from the 2,510 active listings for sale at the end of October 2018.

“There has been a slight increase in our inventory from October last year,” adds Woolley. “The current inventory is likely not enough for home buyers to feel they have a lot more to choose from - which in turn puts pressure on pricing for homes in desirable locations and price points. It’s not uncommon to see multiple offers in many of our market segments. Your local Realtor will be able to help you understand the intricacies of our current market and what you can expect at the time you decide to buy or sell a home.

"The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in October 2018 was $878,900. The benchmark value for the same home in October2019 decreased by 2.4 per cent to $857,700, slightly more than September’s value of $846,500. The MLS® HPI benchmark value for a condominium in the Victoria Core area in October 2018 was $503,200, while the benchmark value for the same condominium in October 2019 increased by 1.7 per cent to $511,600, the same as September’s value.

Sold Properties, David Stevens Royal LePage

                          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.