Stephen Foster on
Victoria Real Estate Market ReportOverall housing demand on the South Island remained at 1.7 months supply but with 20% less residential sales and 20% less inventory. November sales volume was approx. double that of November 2019 and that of November 2018. Average sales prices remained at 111% of the assessed value.
Single Family Homes:Detached home demand dropped only slightly from 1.4 months to 1.5 months of supply, with a 20% drop in sales and 16% drop in listings. Sales prices averaged 117% of assessed value which is up from 114% last month. Sales volume in Saanich East and in Sooke did not change, all other areas were down. The 1 week trend ending November indicates that the market is not slowing down just yet. By price,…
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