Victoria Real Estate Market | December 2020

Wow, what an exceptional year! We hope that you and your family are all safe.

This is is a great article from REW that we wanted to share with you: BC Assessments Vs. What Your Home is Truly Worth.


Now, some highlights from the monthly VREB report:

  • 631 properties sold in December (57 per cent more than in December 2019)
  • Sales of condominiums were up 61.2 per cent from December 2019 with 195 units sold. Sales of single family homes increased 58.6 per cent from December 2019 with 314 sold.
  • A grand total of 8,497 properties sold over the course of 2020, 17.1 percent more than the 7,255 that sold in 2019.

There were 1,279 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of December 2020.


Benchmarks:

  • A single family home in the Victoria Core in December 2019 was $857,200.
  • The benchmark value for the same home in December 2020 increased by 6.8 per cent to $915,100, slightly more than November’s value of $903,100.
  • A condo in December 2019 was $520,100, in December 2020 it was $515,600

Click here to read the full story from VREB.


Did you get your BC Assessment notice in the mail? Here’s our timeless blog on the subject of Market Value vs. Appraised Value.

Questions about your BC Assessment? Ask Peace to book you some time to chat with one of our licensed Realtors.