Victoria real estate market still adjusting to federal government changes
Victoria Real Estate Market Stats - March 2019
A total of 640 properties sold in the Victoria Real Estate Board region this March, 7 per cent fewer than the 688 properties sold in March 2018 but a 52 per cent increase from February 2019. Sales of condominiums were down 7.1 per cent from March 2018 with 196 units sold but were up from February 2019 by 51.9 per cent. Sales of single family homes were down 4.5 per cent from March 2018 with 322 sold.
There were 2,435 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of March 2019, an increase of 14.3 per cent compared to the month of February and a 37.9 per cent increase from the 1,766 active listings for sale at the end of March 2018.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in March 2018 was $867,900. The benchmark value for the same home in March 2019 decreased by 2.8 per cent to $843,600, lower than February's value of $845,900. The MLS® HPI benchmark value for a condominium in the Victoria Core area in March 2018 was $501,500, while the benchmark value for the same condominium in March 2019 increased by 1.0 per cent to $506,500, slightly higher than February's value of $502,800.