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THE VICTORIA MARKET Category: Victoria BC

Despite an increase in sales, prices in the Victoria real estate market have remained flat over the past several quarters. The upward pressure on prices eased in the 3rd Qtr of 2018 and after a modest decrease, prices have levelled off. On the supply side, the number of listings was up from the same period last year. On the demand side, there was an increase in the number of sales.

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REAL ESTATE IN BC - SOME INSIGHTS Category: Victoria BC

The real estate market in Canada has been in a slump during the past couple of years. BC has been particularly hard hit. Despite this, BC still has the most expensive real estate in the country.

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The Market Inventory - Fall 2019 Category: Victoria BC

There were 2,155 properties (including lots and acreage) active on the VREB’s MLS® database for the Greater Victoria area (i.e., excluding the Malahat, Up-Island and the Gulf Islands) on Oct 1, 2019, up +10.0% from the inventory level of 1,964 a year ago.

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THE VICTORIA MARKET & MARKET INVENTORY Category: Victoria BC

Compared to most areas of the country, the real estate market in Victoria put in another solid performance in 2018. Despite slowing sales and properties taking longer to sell, prices continue to edge up, particularly in the condo and townhouse sectors of the market.

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SALES SLOW...INVENTORY GROWS Category: Victoria BC

In June 2018, Central Mortgage and Housing Corporation(CMHC), released the results of a survey of home buyers who purchased a home in 2017 in the Montreal, Toronto and Vancouver Census Metropolitan Areas. The objective was to determine buyers’ attitudes as to factors drive the market, particularly prices. The study was an effort to explore “behavioural economics” or what the layman might term the psychology of buying.

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THE MARKET INVENTORY Category: Victoria BC

There were 1,910 properties (including lots and acreage) active on the VREB’s MLS® database for the Greater Victoria area (i.e., excluding the Malahat, Up-Island and the Gulf Islands) on July 1, 2018, up +50.3% from 1,271 a year ago. As an additional point of reference, the inventory was 2,796 on July 1, 2015.

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