CONTACT
RSS

Victoria’s summer real estate market conditions push into September:


A total of 410 properties sold in the Victoria Real Estate Board region this September, 46.1 per cent fewer than the 761 properties sold in September 2021 and a 14.2 per cent decrease from August 2022. Sales of condominiums were down 58.8 per cent from September 2021 with 126 units sold. Sales of single family homes decreased 33.2 per cent from September 2021 with 221 sold.



“September heralds the start of the fall season, which traditionally brings a more active market than what we see in the summer months. October is generally the peak of the fall and winter market,” says Victoria Real Estate Board President Karen Dinnie-Smyth. “This year sales have dropped month over month since May and we saw a reluctant September with some of the lowest sales numbers for that month in decades. While the rate of decrease has slowed due in part to concerns about rising interest rates and inflation, this level of activity may not necessarily reflect the actual demand that exists in the marketplace. While overall activity is below historical norms, well-priced properties are still receiving plenty of attention. Multiple offers on these homes are still quite common, which may not be reflected in the overall statistics, but is noticeable if you are actively buying and selling.”


There were 2,300 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September 2022, an increase of 7.6 per cent compared to the previous month of August and a 104.6 per cent increase from the 1,124 active listings for sale at the end of September 2021.



“The good news is that we have seen more inventory come to market, which when combined with slower sales activity, has resulted in more balanced market conditions,” adds President Dinnie-Smyth. “In the current environment, properties that are well-priced and well-maintained continue to sell briskly. If you are thinking of making a move, a conversation with your favourite REALTOR® for an up-to-date analysis of how the housing market is performing in your area will be crucial to your success. Another consideration is to take the time to vote in your municipal elections October 15 for candidates who reflect your preferences for housing in our communities. Much of our future housing supply and the way Greater Victoria will manage housing needs will be determined by decisions made at the municipal level.”



The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in September 2021 was $1,201,100. The benchmark value for the same home in September 2022 increased by 13.6 per cent to $1,364,200 but was down 2 per cent from August's value of $1,391,700. The MLS® HPI benchmark value for a condominium in the Victoria Core area in September 2021 was $519,200, while the benchmark value for the same condominium in September 2022 increased by 18.9 per cent to $617,400, down by 0.7 per cent from the August value of $621,900.

Read

 
 

Latest Market Reports

Victoria Real Estate Market Continues to Stabilize ...

A total of 533 properties sold in the Victoria Real Estate Board region this September, 16.7 per cent fewer than the 640 properties sold in September of last year, and a 10.3 per cent decrease from August 2018. Sales of condominiums were down 30.4 per cent from last year in September with 149 units sold. Sales of single family homes were down 9.2 per cent from 2017 with 285 sold this September.

"This year's housing market has continued to behave as we've expected, moderating after the record setting pace of 2016 and adjusting to various government measures such as tightening mortgage qualification rules that were intended to cool the market," says Victoria Real Estate Board President Kyle Kerr. "We continue to see a reduction in sales when we compare to recent years and prices stabilizing across the market, with some variation in value in niche, higher end homes."...Read More

Want to know what your home is worth? Contact Me for a market evaluation!

THANK YOU TO ALL MY CLIENTS FOR A RECORD BREAKING SUMMER - Shirin Purewal

Featured Listings

Homes

Click to see the latest of homes for Sale in Victoria.

Condo

Click to see the latest list of Condos for sale in Victoria.

Townhouses

Click to see the latest list of townhouses in Victoria for sale.

Luxury & Waterfront Properties

Click to see the latest list of luxury real estate for sale in Victoria.

For more information on my listings,
Contact Me Today!

 

House Hunting

Thinking of selling? Here's what my clients are currently looking for!

- Fixer upper in Victoria, Langford, or Saanich - Under $650,000
- 2 Bedroom 2 Bath Condo in Saanich & surrounding areas under $450,000
- Homes in Saanich with a rental suite up to $750,000
- 2 Bedroom Condo Westshore up to $420,000
- Condo in Bear Mountain up to $425,00
- Home in Bear Mountain up to $850,000
 

Let's find your perfect place to live, love and laugh, let’s make your dream a reality. Click Here to Begin!

 

Market News

40% Sold ! Pre-sale Condo Project exceeds expectations

...Read More

 
 

Victoria Garden Suite Approval yields 22 approvals among 7000 eligible properties

...Read More

Home & Garden Tips

8 Budget Ideas for Decorating Your Blank Walls

Postcards, tile and sentimental clothing can bring beauty to your walls, often for less than the cost of original art

...Read More

Testimonials

"Shirin was wonderful to work with. She listened to our expectations for selling, helped formulate a plan and sold our house in record time! We found her very professional!"

- Lisa Sykes

"I've had AWESOME experience working with Shirin as my Realtor. We left our home in Toronto in Dec 2016 and took a bold step in buying a house in Victoria in April 2017 but knew no one here. She communicated with my whole family about differing needs staying in constant contact with important information - both basic and complex stuff. She listened in terms of adapting to our needs from understanding our time frame to giving references/contacts to sharing local knowledge honestly. She is hardworking, technology savy, detailed oriented, tenacious!."

- Anjan Chhetry

Please click here to see more testimonials!

"When it comes to buying, insuring you make the right decision is my priority and I have your long term, best interest at heart. If something is not right for you, I will tell you, straight. When it comes to selling, I take marketing to an entirely new level. Call me to find out how!"
- Shirin Purewal


Copyright © 2017 Shirin Purewal BC HOME GROUP Jonesco Real Estate Inc., All rights reserved.

Our mailing address is:
201-641 Herald St., VICTORIA BC

Want to change how you receive these emails?
You can email info@bchomegroup.ca
 


{{emailsignature}}
Read
Categories:   1029 view st | 1061 Fort St | 1188 Yates | 128 Amphion Terrace | 2018 | 2018 MLS Statistics Victoria | 2020 | 2021 | 2022 | 2417 Beacon Avenue | 3010 washington Ave | 439 cook st | 515 Chatham | 751 fairfield rd | 760 johnson st | 881 short st | 881 uptown | 930 yates | abstract | abstract development | accountant | acreage | Activity Book | affordable homes | agreement of purchase | air bnb | Apartment | approach seller direction | April statistics | astoria | august 2022 | bare trustee | bc | BC Energy | bc home assessed value | BC Housing | bc landlords | BC Real Estate Council | BC Real Estate Foundation | BC Real Estate Rules | bc speculation tax | bc tax rules | bc title | bcrea | Bear Mountain | Belmont | beneficial interest | best realtor | bosa development | british columbia | british columbia real estate | building warranty | Buy | buy a condo in cedar hill | Buy Apartment | Buy Apartment Victoria BC | Buy Condo | Buy Condo Victoria | Buy Condo Victoria BC | Buy Home | Buy Home Victoria BC | Buy House Victoria BC | Buy In Victoria BC | Buy Property | buy real estate in Rockland victoria bc | buyer | buyers | buyers tax | Buying | Buying Home | Buying A ForeClosed Home | Buying A House | Buying A House With Cash | Buying An Investment Property | Buying Property | Buying Rental Property | Buying Your First Home | BuyingProperty | canada | canada home search | Canadian Housing Market | cannabis rules | capital park | cedar hill | central saanich | central saanich waterfront | Century | Century 21 Houses For Sale | Century 21e | character home | City of Saanich | clause to remove junk | close to uvic | CMHC | Co Hatley Park, Colwood Real Estate | coast hotel | concert properties | condo | condo clear | condo downtown | condo for sale | condo project | Condos For Sale | consumer protection | cordova bay | Corona Virus | corporations | Costs House | Costs Of Buying A House | Covid-19 | covid19 | cra | Craigslist Houses | Craigslist Houses For Sale | CS Brentwood Bay, Central Saanich Real Estate | CS Saanichton, Central Saanich Real Estate | customs house | david foster | deceased on title | december | detached Homes | development opportunity | disclosure forms | dockland real estate victoria | downtown | downtown victoria | downtown victoria condo | downtown victoria condos | Downtown Victria | Du West Duncan, Duncan Real Estate | elevate | empty home tax | Es Rockheights, Esquimalt Real Estate | Es Saxe Point, Esquimalt Real Estate | esquimalt | esquimalt home | estate planning | evergreen hill | fairfield condo | fairfield rd | fantastic app | farm | farm land | father | father's day | february real estate statictics | fifteen 88 | fifteen88 | find a home in victoria | find a home victoria bc | find home find | First | First Home | First Time Home Buyer | fisherman's warf | fixed mortgage | for sale by owner | for sale by owner victoria | For Sale In | For Sale On | For Sale Victoria BC | ForeClosed | ForeClosed Home | foreign b | foreign buyer tax | foreign buyer tax in british Columbia | foreign buyers | garden suite | go agent | gst | guidelines | hacks | hamlet park | harbourside | home | Home Buyer | home for sale | Home Partnership Program | Home Prices | home renovations | home search criteria | home warranty | Homes | Homes Sale | homes for sale | homes for sale in victoria bc | homes for sale under $400000 | House | House Buy And Sell | House For Sale In | House Sold | House Victoria BC | House With Cash | houses | Houses For Sale | Houses For Sale On | Houses To Buy In Victoria BC | housing market | hudson one | hudson place | hudson place one | hudson presale | Ilaria | income splitting | Investment Property | January | Jawl | jawl properties | joint tenancy | july statistics | june 15 | June 2018 | june 2020 | june 2022 | junk removal | Kijiji Homes | Kijiji Homes For Sale | kitma rd | La Bear Mountain, Langford Real Estate | La Florence Lake, Langford Real Estate | La Glen Lake, Langford Real Estate | La Happy Valley, Langford Real Estate | La Westhills, Langford Real Estate | Ladysmith | landlord | lanford | langford | lefreve | legal | legato | luxury | luxury condo | luxury condo inner harbour | luxury home | luxury real estate | luxury tax | luxury waterfront | manhattan | March | march statistics | marigold | Market | market on yates | Market Value | May | May 2020 real estate | may 2021 real estate | may statistics | me | misrepresentation | ML Mill Bay, Malahat & Area Real Estate | MLS | MLS 2018 August | mls app | mls statistics | mortgage | mosaic | Multi Family Properties | Multi Family Properties For Sale | Na North Nanaimo, Nanaimo Real Estate | nanaimo | near | new bc budget 2018 | New Condos | New Condos For Sale Victoria BC | new foreign entity tax | New Homes | New Homes For Sale Victoria BC | New Houses | New Houses For Sale Victoria BC | New realtor | new tax rules | newsletter october | newsletter september | non-resident | north dairy rd | Norway House Buy And Sell | november | NS Dean Park, North Saanich Real Estate | NS Lands End, North Saanich Real Estate | OB South Oak Bay, Oak Bay Real Estate | ocean view | october | october 2022 | Offer | Old Houses | Old Houses For Sale | openhouse | outbreak | Pandemic | parking | parkside | parkside hotel | parkside presale | polo village | Possession Dates | Pre-sale | pre-sale home | preconstruction | presale | presale condo | price | Properties | Properties For Sale | property | property guys | property transfer tax | purchase agreement | Purple Bricks | Purple Bricks Homes For Sale | real estate | real estate app | real estate estat | real estate estatistics | Real Estate Foundation BC | real estate news | real estate purchase | real estate rule changes | Real Estate Sold | real estate statistics | real estate tax | Real Estate Victori | real estate victoria | realtor | Realtor Houses For Sale | realtor tipline | realtor.ca | realtors | Remax | Remax Land | Remax Land For Sale | Rental | Rental Property | resale downtown victoria condo | residenes | residential property | resources | rockland real estate victoria | roundhouse rise | saanich garden suite | Sale | Sale Victoria BC | save money | saxe point | school | scrap speculation tax | SE Cedar Hill, Saanich East Real Estate | SE Cordova Bay, Saanich East Real Estate | SE Maplewood, Saanich East Real Estate | SE Mt Doug, Saanich East Real Estate | SE Mt Tolmie, Saanich East Real Estate | SE Swan Lake, Saanich East Real Estate | search for homes on MLS | second property | selkirk waterway | Sell My House | Sell My House Fast For Market Value | sell your home in victoria | seller | sellers | Sellers Market | selling | september | september real estate news | sidney | Sidney condo | sidney condo project victoria | Sk East Sooke, Sooke Real Estate | Sk John Muir, Sooke Real Estate | Sold | Sold Homes | Sold properties | specul | specula | speculation | speculation ta | speculation tax | speculation tax for foreigners in British Columbia | Statistical Updates | statistics | Step One Code | Steps To Buying A House | storage | strata | strata insurance | strata tips | stress test | subdivision | SW Marigold, Saanich West Real Estate | SW Northridge, Saanich West Real Estate | SW Portage Inlet, Saanich West Real Estate | SW Royal Oak, Saanich West Real Estate | SW Strawberry Vale, Saanich West Real Estate | SW Tillicum, Saanich West Real Estate | Tax | tax avoidance penalties property transfer tax | tax changes | tax changes in bc | tax fraud | tax penalties | Tax rukes | tax rules | tax splitting | telephone scam | Tenancy | tenancy laws | tenanted properties | tenants | the aragon | the haro | the jukebox | the juliet | the manhattan | the manhattan 930 yates | the nest | the railyards | thetis Glen | thetisglen | timeshare | tips | tips on virtual open house | title insurance | Top Realtor | Top Realtor Victoria BC | townhouse | Townhouses | Townhouses Victoria BC | Townhouses For Sale Victoria BC | Tresah | Troke | trust agreements | Trusts | two lots | ubc | under 600 000 | vacation home | vancouver | variable mortgage | Vi Burnside, Victoria Real Estate | Vi Downtown, Victoria Real Estate | Vi Fairfield West, Victoria Real Estate | Vi Fernwood, Victoria Real Estate | Vi James Bay, Victoria Real Estate | Vi Jubilee, Victoria Real Estate | Vi Mayfair, Victoria Real Estate | Vi Rockland, Victoria Real Estate | vic west new condo project | victora | victoria | Victoria August 2018 MLS Statistics | victoria bc | victoria bc canada | victoria bc home find | Victoria BC Home Prices | victoria condo | victoria condo market 2019 | victoria Day parade | victoria homes | victoria housing bubble | victoria inner harbour | victoria luxury condo | Victoria New Condos For Sale | victoria pre sale | victoria property | victoria property searc | victoria property search | victoria real estate | victoria real estate board | Victoria Real estate statistics | victoria speculation tax | Victoria Top Realtor | victoria townhouse | victoria waterfront | victoria waterfront condo | Victoria Waterfront Properties | vip | virtual open house | VR Prior Lake, View Royal Real Estate | VR Six Mile, View Royal Real Estate | VR View Royal, View Royal Real Estate | VREB | VW Songhees, Victoria West Real Estate | VW Victoria West, Victoria West Real Estate | water view | waterfront | waterfront condo | waterfront property | waterview | wharf street | what is happening with BC speculation tax | yates
Categories
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.