Victoria Real Estate Market Experiences a Burst of Activity 

December 1, 2017 

A total of 671 properties sold in the Victoria Real Estate Board region this November, 12 per cent more than the 599 properties sold in November last year. 

Victoria Real Estate Market is busy

"We suggested last month that some buyers may accelerate their purchase timeline to buy a new home in anticipation of the mortgage stress test on uninsured buyers - those with a down payment of 20 per cent or more - that will come into effect on January 1," says Victoria Real Estate Board President Ara Balabanian. "Judging by the sales we saw in November and what I have heard from our REALTOR® members, some buyers have indeed accelerated their purchasing plans to avoid the stress…

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Victoria Real Estate Market Slowly Stabilizing after a Record Breaking 2016

November 1, 2017 A total of 664 properties sold in the Victoria Real Estate Board region this October, 9.7 per cent fewer than the 735 properties sold in October last year.

"As expected, we saw fewer sales than this time last year," notes Victoria Real Estate Board President Ara Balabanian. "Looking at the longer term picture however, sales last month were 17.1 per cent above the ten year average of 567 properties for the month of October, so the market is still very active here in Victoria, and this is in spite of the ongoing low inventory levels."

There were 1,905 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of October 2017, a…

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Victoria Real Estate Market Changes Tempo for Autumn

October 2, 2017  A total of 640 properties sold in the Victoria Real Estate Board region this September, 18.1 per cent fewer than the 781 properties sold in September last year.

“We can certainly feel the difference in the current market when we compare to last year’s record breaking numbers. Last year the pace of the market was intense, there was a lot of pressure on pricing and demand,” notes Victoria Real Estate Board President Ara Balabanian. “Now the tempo of the market is trending slowly – very slowly – towards more balanced conditions. Recently we’ve seen overall price increases level out, which can indicate slightly less demand, and inventory is building.”

There were 1,976 active…

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What happened in August?

A total of 736 properties sold in the Victoria Real Estate Board region this August, 16.6 per cent fewer than the 883 properties sold in August last year.

"I admit to being a little surprised by the August numbers," notes Victoria Real Estate Board President Ara Balabanian. "I expected inventory numbers to be climbing by now, but instead we've seen even lower numbers of listings on the market. This is likely leading to some buyer fatigue along with pressure on pricing in high demand areas."

There were 1,917 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2017, a decrease of four properties compared to the month of July, and 8.5 per cent fewer than the 2,094 active…

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Market Report June 2017

"This year may feel a bit steady and less exciting when compared to last year's record-breaking market. People are getting used to this new tempo of brisk sales," says 2017 Victoria Real Estate Board President Ara Balabanian. "However, when we look at the longer term numbers, we're in a very active market. This June we counted over one thousand properties sold, while the ten year average for sales in the month of June is 798. If we remove 2016 sales, this June would have been the record breaker."

Victoria Real Estate stats

A total of 1,008 properties sold in the Victoria Real Estate Board region this June, 14.1 per cent fewer than the 1,174 properties sold in June last year.

There were 1,915 active listings for sale on…

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Increase in Inventory

 "This month we have seen an increase in inventory - which means that buyers have more choice - and it means that now in some areas sellers are competing for buyers," says 2017 Victoria Real Estate Board President Ara Balabanian.

Active Listings

There were 1,896 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of May 2017, an increase of 12.2 per cent compared to the month of April, but 21.2 per cent fewer than the 2,406 active listings for sale at the end of May 2016.

Sold Listings

A total of 1,006 properties sold in the Victoria Real Estate Board region this May, 22 per cent fewer than the 1,289 properties sold in May last year. The ten year average for sales in May is…

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Victoria Real Estate Market Inventory Edges Up, Sales Still Constrained

May 2, 2017  "The numbers we saw in April are a further indication that the market is gradually moving towards a more balanced state compared to the record setting pace of 2016." says 2017 Board President Ara Balabanian.

A total of 885 properties sold in the Victoria Real Estate Board region this April, 31.2 per cent fewer than the 1,286 properties sold in April last year. The ten year average for sales in April is 772 properties.

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If you're ready to start house hunting, you can search real estate listings now. You can also refer to our Buyer's Guide for helpful tools and buying advice. To start working with an agent right away, please contact…

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Victoria Real Estate Market Continues Trend of Low Inventory, High Demand

April 2, 2017 - A total of 929 properties sold in the Victoria Real Estate Board region this March, 17.1 per cent fewer than the 1,121 properties sold in March last year.

"We predicted early in the year that we wouldn't see a continuation of the record sales numbers that we saw in 2016," says 2017 Board President Ara Balabanian. "However, we are still in a very active market, as evidenced by the fact that this is second highest March on record if you remove that record breaking 2016 data. We saw nearly 200 more transactions last month than March 2015, when 734 properties sold."

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Victoria Real Estate Market Healthy Heading into Spring  

March 1, 2017 - A total of 675 properties sold in the Victoria Real Estate Board region this February, 12.6 per cent fewer than the 772 properties sold in February last year.

"Last month we discussed how 2017 won't match 2016 in terms of huge sales numbers, due to many factors including the present lack of inventory," says 2017 Board President Ara Balabanian. "In spite of the low inventory the real estate market in Victoria is robust. The ten year average for sales in February is 542, so we are well within expected numbers for this time of the year with 675 properties sold. In fact, this February's sales are the second highest in the past ten years. It is also possible that our market may…

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Victoria Real Estate Market Starts the Year with Fewer Listings and Above Average Activity

February 1, 2017 - A total of 478 properties sold in the Victoria Real Estate Board region this January, 11.3 per cent fewer than the 539 properties sold in January last year.

Inventory levels edged lower, with 1,516 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2017, 38.6 per cent fewer than the 2,471 active listings at the end of January 2016.

“The numbers we saw last year are not the new normal. We know that we are not going to see sales volumes this year that meet or beat last year’s record breaking numbers,” notes 2017 Board President Ara Balabanian. “When compared to the month of January’s…

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