Victoria Real Estate Market | September 2021

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


A greater commitment to development required to balance local housing market


Quotes from Victoria Real Estate Board President David Langlois:

  • We are in a situation this month that is very similar to last month.
  • … a lot of demand for homes of all types, but very little inventory come onto the market.
  • … we do not have the homes to answer the demand at all points in the housing spectrum.

Now, some highlights from the monthly VREB report:

  • A total of 761 properties sold in September (23 % less than in September 2020)
  • Sales of condominiums were up 9 % from September 2020 with 306 units sold.
  • Sales of single family homes decreased 38 % from September 2020 with 331 sold.

There were 1,124 active listings for sale on the Victoria Real Estate Board MLS at the end of September 2021.


Benchmarks:

  • The benchmark value for a single family home in the Victoria Core in September 2020 was $879,700
  • The benchmark value for the same home in September 2021 increased by 25 % to $1,100,200
  • A condo in September 2020 was valued at $482,000. In August 2021 it was valued at $545,900, an increase of 13 %

CLICK HERE to read the full story from VREB.


What is your home worth?

Book at chat with Peace book you some time to chat about YOUR real estate goals.