Victoria Real Estate Market Shakes Off Winter Doldrums
Victoria Real Estate Market Stats - February 2020
A total of 563 properties sold in the Victoria Real Estate Board region this February, 33.7 per cent more than the 421 properties sold in February 2019 and 37 per cent more than in January 2020. Sales of condominiums were up 35.7 per cent from February 2019 with 175 units sold. Sales of single family homes increased 23.7 per cent from January 2020 with 271 sold.
There were 2,127 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of February 2020, 4 properties fewer than the total available at the end of February 2019 and an 8.6 per cent increase from the 1,958 active listings for sale at the end of January 2020.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in February 2019 was $838,800. The benchmark value for the same home in February 2020 increased by 3.5 per cent to $868,100, 1.1 per cent more than January’s value of $858,500. The MLS® HPI benchmark value for a condominium in the Victoria Core area in February 2019 was $503,600 while the benchmark value for the same condominium in February 2020 increased by 4.7 per cent to $527,400, 1.2 per cent more than the January value of $521,000.