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.
- 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.
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