Victoria Real Estate Market | August 2021

Welcome to September 2021!

Here’s what happened in the month of AUGUST in the Victoria real estate market.


Victoria housing market continues to adapt to long-term lack of supply


Quotes from Victoria Real Estate Board President David Langlois:

  • Our market is starved for inventory
  • The market remains very robust and the lack of supply is the biggest issue impacting attainability for our community
  • The previous ten-year running average for sales in the month of August is 675 properties…831 properties changed hands this August

Now, some highlights from the monthly VREB report:

  • A total of 831 properties sold in August (15.1 % less than in August 2020)
  • Sales of condominiums were up 31.7 % from August 2020 with 345 units sold.
  • Sales of single family homes decreased 29.9 % from August 2020 with 357 sold.

There were 1,120 active listings for sale on the Victoria Real Estate Board MLS at the end of August 2021.


Benchmarks:

  • The benchmark value for a single family home in the Victoria Core in August 2020 was $889,800
  • The benchmark value for the same home in August 2021 increased by 22.4 % to $1,089,400
  • A condo in August 2020 was valued at $483,400. In August 2021 it was valued at $540,600, an increase of 11.8 %

CLICK HERE to read the full story from VREB.


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