BC HOME GROUP | SHIRIN PUREWAL | VICTORIA REAL ESTATE | info@bchomegroup.ca1-778-401-9545

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." 

There were a total of 2,646 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September 2018, an increase of 5 per cent compared to the month of August and 33.9 per cent more than the 1,976 active listings for sale at the end of September 2017. 

"If you are considering buying or selling a home, you need to understand your local market, particularly in the context of your property type and price point," adds President Kerr. "Micro markets in our area behave very differently as they are influenced by different pressures. The under $800,000 housing market in some areas is under tremendous pressure as many buyers compete for these homes. The multimillion-dollar market in other areas is currently experiencing less pressure and we can see price flexibility coming into play in the 1.5 million dollar plus market. And although we saw a bump in inventory at the start the year, those inventory levels have stabilized as well. So buyers still face a market with much less inventory available than the historical average. Your local REALTOR® can help you understand the best way forward for your selling or buying plans based on current and granular data and market insights." 

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in September 2017 was $832,000, while the benchmark value for the same home in September 2018 increased by 6.2 per cent to $883,700, slightly lower than August's value of $888,300. The MLS® HPI benchmark value for a condominium in the Victoria Core area in September 2017 was $457,700, while the benchmark value for the same condominium in September 2018 increased by 9.9 per cent to $503,000, exactly the same as August's value.

Read full post
Categories:   1029 view st | 1061 Fort St | 1188 Yates | 128 Amphion Terrace | 2018 | 2018 MLS Statistics Victoria | 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 | affordable homes | agreement of purchase | air bnb | approach seller direction | April statistics | astoria | 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 | Belmont | beneficial interest | best realtor | bosa development | british columbia | british columbia real estate | building warranty | buy a condo in cedar hill | buy real estate in Rockland victoria bc | buyer | buyers | buyers tax | canada | canada home search | cannabis rules | capital park | cedar hill | central saanich | central saanich waterfront | character home | City of Saanich | clause to remove junk | close to uvic | CMHC | coast hotel | concert properties | condo | condo downtown | condo for sale | consumer protection | corporations | cra | customs house | david foster | deceased on title | detached Homes | development opportunity | disclosure forms | dockland real estate victoria | downtown | downtown victoria | downtown victoria condo | downtown victoria condos | Downtown Victria | empty home tax | Es Rockheights, Esquimalt Real Estate | esquimalt | esquimalt home | estate planning | evergreen hill | fairfield condo | fairfield rd | fantastic app | farm | farm land | february real estate statictics | fifteen 88 | fifteen88 | find a home in victoria | find a home victoria bc | find home find | First Time Home Buyer | fisherman's warf | fixed mortgage | for sale by owner | for sale by owner victoria | foreign b | foreign buyer tax | foreign buyer tax in british Columbia | foreign buyers | garden suite | go agent | gst | hamlet park | harbourside | Home Buyer | home for sale | Home Partnership Program | home search criteria | home warranty | homes for sale | homes for sale in victoria bc | homes for sale under $400000 | hudson one | hudson place | hudson place one | hudson presale | Ilaria | income splitting | Jawl | jawl properties | joint tenancy | july statistics | june 15 | June 2018 | junk removal | kitma rd | La Bear Mountain, Langford Real Estate | La Glen Lake, Langford Real Estate | Ladysmith | lanford | langford | lefreve | legal | legato | luxury | luxury condo | luxury home | luxury real estate | luxury tax | luxury waterfront | manhattan | march statistics | market on yates | May | may statistics | misrepresentation | MLS | MLS 2018 August | mls app | mls statistics | mosaic | nanaimo | new bc budget 2018 | new foreign entity tax | new tax rules | newsletter september | non-resident | north dairy rd | ocean view | Offer | parkside | parkside hotel | parkside presale | polo village | Possession Dates | Pre-sale | pre-sale home | presale | presale condo | Properties | property | property guys | property transfer tax | purchase agreement | real estate | real estate app | Real Estate Foundation BC | real estate news | real estate purchase | real estate rule changes | real estate statistics | real estate tax | Real Estate Victori | real estate victoria | realtor | realtor tipline | realtor.ca | resale downtown victoria condo | residenes | residential property | rockland real estate victoria | roundhouse rise | saanich garden suite | saxe point | scrap speculation tax | SE Cedar Hill, Saanich East Real Estate | SE Mt Doug, Saanich East Real Estate | search for homes on MLS | second property | selkirk waterway | seller | selling | september real estate news | sidney | Sidney condo | sidney condo project victoria | Sold properties | specul | specula | speculation | speculation ta | speculation tax | speculation tax for foreigners in British Columbia | statistics | Step One Code | subdivision | SW Portage Inlet, 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 | tenants | the aragon | the jukebox | the juliet | the manhattan | the manhattan 930 yates | the railyards | thetis Glen | thetisglen | timeshare | Top Realtor | Top Realtor Victoria BC | townhouse | Troke | trust agreements | Trusts | two lots | ubc | under 600 000 | vacation home | variable mortgage | Vi Burnside, Victoria Real Estate | Vi Downtown, Victoria Real Estate | Vi Fairfield West, Victoria Real Estate | Vi Fernwood, Victoria Real Estate | Vi Jubilee, Victoria Real Estate | Vi Mayfair, 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 condo | victoria Day parade | victoria homes | victoria housing bubble | victoria inner harbour | victoria luxury condo | victoria pre sale | victoria property | victoria property searc | victoria property search | victoria real estate | victoria real estate board | victoria speculation tax | Victoria Top Realtor | victoria townhouse | victoria waterfront | victoria waterfront condo | Victoria Waterfront Properties | VR Prior Lake, View Royal Real Estate | VR Six Mile, View Royal Real Estate | VR View Royal, View Royal Real Estate | VREB | water view | waterfront | waterfront condo | waterfront property | waterview | wharf street | what is happening with BC speculation tax
Categories
NOTE: MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification. This website may only be used by consumers for the purpose of locating and purchasing real estate.