VICTORIA MARKET REPORT - June 2023

Spring market begins to grow just in time for summer

A total of 775 properties sold in the Victoria Real Estate Board region this May, 1.8 per cent more than the 761 properties sold in May 2022 and a 21.7 per cent increase from April 2023. Sales of condominiums were down 0.8 per cent from May 2022 with 248 units sold. Sales of single family homes increased 8.7 per cent from May 2022 with 399 sold.

“The month of May marks the highest number of sales we’ve seen since April of last year,” said Victoria Real Estate Board Chair Graden Sol. “While we haven’t seen the number of total sales we would expect in a spring market, the month of May marks the fourth consecutive month with sales higher than the month…

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PENDER ISLAND-
IN THE GULF ISLANDS OF BC






Pender Island is one of the Southern Gulf Islands in British Columbia, Canada. It is situated in the Strait of Georgia between Vancouver Island and the mainland of British Columbia. The island is part of Capital Regional District and has an approximate population of just under 2,500 people.

The island is made up of two main communities, North Pender Island and South Pender Island, which are connected by a bridge and are surrounded by the Salish Sea. Each community has its own distinct character and amenities. North Pender Island is more developed and offers services such as grocery stores, restaurants, shops, and accommodations. South Pender Island, on the other hand, is more rural and features a quieter…

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The Gulf Islands in British ColumbiaKO_97678.JPG

There are over 200 Gulf Islands located in the Strait of Georgia between Vancouver Island and the mainland coast of British Columbia. They are known for their natural beauty, mild climate and relaxed way of life. The Gulf Islands are a popular tourist destination that attract visitors who enjoy the beaches, parks, wildlife and recreation opportunities. They are also home to a number of artists, writers and musicians so there is a thriving arts and culture scene.  They islands are also home to a number of protected areas including the Gulf Islands National Reserve which encompasses several islands and provides habitat for a variety of plant and animal species.  The islands are an important part of the traditional…

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MARKET REPORT - May 2023

Victoria Market Report


Not enough growth in inventory numbers means spring market sales slow

May 1, 2023  A total of 637 properties sold in the Victoria Real Estate Board region this April, 22.7 per cent fewer than the 824 properties sold in April 2022 but an 8 per cent increase from March 2023. Sales of condominiums were down 21.8 per cent from April 2022 with 205 units sold. Sales of single family homes decreased 19.4 per cent from April 2022 with 325 sold.

"Sales numbers for this April are more moderate than the higher levels we've seen in recent years," said Victoria Real Estate Board Chair Graden Sol. "We are in a familiar market pattern, where the majority of sales for the year occur in the spring. While…

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 James Bay


Homes in James Bay

James Bay has one of the most coveted locations in the city. Surrounded by water on three sides with the Victoria Harbour to the north and west, and the Strait of Juan de Fuca to the south. It is a high density neighbourhood and occupies the south side of the Inner Harbour close to downtown. James Bay's extensive waterfront is alive with activity including an array of industry, government and transportation facilities.   James Bay is known for its lively waterfront and charming Victorian houses and is the city’s oldest urban neighbourhood. A commercial area, named ‘James Bay Village’ is centred on the intersection of Menzies and Simcoe Streets and is the heart of the neighbourhood filled with local shops…

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 VIC WEST

Victoria West Homes

Victoria West, commonly called 'Vic West', is a historic neighbourhood in the city of Victoria.  It's located just west of downtown, across the Victoria Harbour and bordering on the Township of Esquimalt. Victoria West is an eclectic community, nestled on a peninsula surrounded by water and connected to Victoria’s downtown core by two city bridges and the Selkirk Trestle. For those seeking a neighbourhood that boasts superior accessibility to both Victoria’s downtown core and the tranquility of West Coast waterfront, Victoria West may be the ideal urban oasis for you.   The neighbourhood is diverse, from its modern harbour-front condominium complexes such as the Railyards and Dockside Green, to…

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MARKET REPORT - April 2023

Victoria Market Report


Early spring market reflects consumer confidence and growing demand

 

April 3, 2023: A total of 590 properties sold in the Victoria Real Estate Board region this March, 29.2 per cent fewer than the 833 properties sold in March 2022 but a 28.3 per cent increase from February 2023. Sales of condominiums were down 29.4 per cent from March 2022 with 197 units sold. Sales of single family homes decreased 31.8 per cent from March 2022 with 281 sold.

 

“We’ve seen our sales numbers this month almost double from January,” said Victoria Real Estate Board Chair Graden Sol. “As we move further into spring, we expect that the return to confidence we’ve seen in the market will continue. What we…

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The Price You'll Pay To Live In Victoria, BC

Are you considering moving to our beautiful city of Victoria? If so, you may want to know more about the living expenses in this picturesque coastal city on Vancouver Island. The cost of living in Victoria British Columbia is relatively high compared to other Canadian cities. Whether the cost of living in Victoria is worth it, depends on a variety of factors such as your lifestyle, income and personal preferences. Victoria is considered to be one of the most desirable cities to live in Canada due to its mild climate, beautiful natural surroundings and a vibrant cultural scene.  There are several reasons why it is more expensive to live in Victoria, BC than in other parts of Canada.
  • High…

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MARKET REPORT - MAR. 2023

Victoria Market Report

Winter real estate market wraps with improved consumer confidence and more stable pricing

March 1, 2023  A total of 460 properties sold in the Victoria Real Estate Board region this February, 35.9 per cent fewer than the 718 properties sold in February 2022 but a 65.5 per cent increase from January 2023. Sales of condominiums were down 39.7 per cent from February 2022 with 161 units sold. Sales of single family homes decreased 28.8 per cent from February 2022 with 220 sold.

"Last month we talked about the optimism building in the local market that our REALTORS® saw, and now we can see it in the market statistics," said Victoria Real Estate Board Chair Graden Sol. "We can confirm the return…

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Are you looking for the perfect place to call home?
Look no further than Oak Bay, Victoria BC!

This attractive suburban community on the south tip of Vancouver Island has a population of 18,000 and is home to a few of the most sought-after properties on the West Coast. With well-asserted homes and gardens, bakeries, shops and additional unique trades, you’ll have plenty of comforts at hand to explore. With its private and public schools close by, it’s an ideal place to raise a family. 

Oak Bay is a municipality of the Capital Regional District of Greater Victoria, British Columbia on Vancouver Island that is situated approximately three kilometres from the downtown core. The region has picturesque scenery, roads and pathways for promenading,…

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