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January 2020 Market at a Glance
Victoria real estate market returns to traditional sales numbers, but low inventory persists
February 3, 2020 - A total of 411 properties sold in the Victoria Real Estate Board region this January, 24.9 percent more than the 329 properties sold in January 2019 and 2.2 percent more than in December 2019. Sales of condominiums were up 6.3 percent from January 2019 with 118 units sold. Sales of single-family homes increased 31.6 percent from January 2019 with 200 sold.
There were 1,958 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2020, 6 properties more than the total available at the end of December 2019 and a 4.8 percent decrease from the 2,057 active listings for sale at the end of January 2019.
The Multiple Listing Service® Home Price Index benchmark value for a single-family home in the Victoria Core in January 2019 was $846,900. The benchmark value for the same home in January 2020 increased by 1.4 percent to $858,500, 0.4 percent more than December's value of $855,000. The MLS® HPI benchmark value for a condominium in the Victoria Core area in January 2019 was $500,500, while the benchmark value for the same condominium in January 2020 increased by 4.1 percent to $521,100, slightly more than the December value of $520,700
Have a look at the infographic below for a quick summary.