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Inventory pressures continue to constrain Victoria real estate market

November 01, 2021

A total of 745 properties sold in the Victoria Real Estate Board region this October, 24.7 per cent fewer than the 990 properties sold in October 2020 and 2.1 per cent fewer than the previous month of September. Condominium sales were down 18.1 per cent from October 2020 with 249 units sold. 18.6 per cent fewer condominiums sold in October 2021 than in the previous month of September. Sales of single family homes were down 30.4 per cent from October 2020 with 339 sold. 2.4 per cent more single family homes sold in October 2021 than in the previous month of September.

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A greater commitment to development required to balance local housing market

October 04, 2021

A total of 761 properties sold in the Victoria Real Estate Board region this September, 23.1 per cent fewer than the 989 properties sold in September 2020 and 8.4 per cent fewer than the previous month of August. Condominium sales were up 9.3 per cent from September 2020 with 306 units sold. 11.3 per cent fewer condominiums sold in September 2021 than in the previous month of August. Sales of single family homes were down 38.6 per cent from September 2020 with 331 sold. 7.3 per cent fewer single family homes sold in September 2021 than in the previous month of August.

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Victoria housing market continues to adapt to long-term lack of supply

September 06, 2021

A total of 831 properties sold in the Victoria Real Estate Board region this August, 15.1 per cent fewer than the 979 properties sold in August 2020 and 0.5 per cent fewer than the previous month of July. Condominium sales were up 31.7 per cent from August 2020 with 345 units sold. 21.5 per cent more condominiums sold in August 2021 than in the previous month of July. Sales of single family homes were down 29.9 per cent from August 2020 with 357 sold. 9.8 per cent fewer single family homes sold in August 2021 than in the previous month of July.

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Looking for something fun to do in the Sooke Region?

August 25, 2021

From night markets to car shows, there's something for everyone to enjoy this weekend in Sooke BC. Read the full post for details.

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Victoria housing inventory continues to decline over summer months

August 03, 2021

A total of 835 properties sold in the Victoria Real Estate Board region this July, 14.7 per cent fewer than the 979 properties sold in July 2020 and 11.4 per cent fewer than the previous month of June. Condominium sales were up 18.8 per cent from July 2020 with 284 units sold. 16 per cent fewer condominiums sold in July 2021 than in the previous month of June. Sales of single family homes were down 29.2 per cent from July 2020 with 396 sold. 10 per cent fewer single family homes sold in July 2021 than in the previous month of June.

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Low inventory and strong demand continue in Victoria real estate market

July 05, 2021

A total of 942 properties sold in the Victoria Real Estate Board region this June, 16.6 per cent more than the 808 properties sold in June 2020, but 10.2 per cent fewer than the previous month of May. Condominium sales were up 61.7 per cent from June 2020 with 338 units sold. 4 per cent more condominiums sold in June 2021 than in the previous month of May. Sales of single family homes were down 4.3 per cent from June 2020 with 440 sold. 18.1 per cent fewer single family homes sold in June 2021 than in the previous month of May.

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Unwavering demand reinforces need to support supply of homes

June 07, 2021

The Victoria market continued to show its strength through the month of May, with a near record setting pace for sales and ongoing record low inventory levels. A total of 1,049 properties sold in the Victoria Real Estate Board region this May, 129.5 per cent more than the 457 properties sold in May 2020, but 6 per cent fewer than the previous month of April. Sales of condominiums were up 200.9 per cent from May 2020 with 325 units sold. 1.8 per cent fewer condominiums sold in May 2021 than in the previous month of April. Sales of single family homes were up 111.4 per cent from May 2020 with 537 sold. 4.8 per cent fewer single family homes sold in May 2021 than in the previous month of April.

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Housing in Greater Victoria remains in high demand

May 03, 2021

"Comparing last year's April market to 2021 does not provide us any real insight into long term market trends," said Victoria Real Estate Board President David Langlois. "Instead of comparing to last year's numbers, we need to look at years before the pandemic to see how April 2021 compares to average. In the most recent five years pre-pandemic, the average number of sales in the month of April was 896. April 2016 holds the record for sales with 1,286 properties sold. The five-year average for active listings was 2,596, so we sit at more than one thousand homes fewer than a recent average level of inventory."

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Sooke road work nears completion

April 12, 2021

Improvements on Highway 14 and Otter Point Road in Sooke are wrapping up, says B.C. Premier John Horgan.

They will make travel safer and easier for people driving, cycling, walking, and using transit the area, said Horgan, who also serves as MLA for Langford-Juan de Fuca.

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The fast pace of Victoria real estate market surges on

April 05, 2021

A total of 1,173 properties sold in the Victoria Real Estate Board region this March, 92.9 per cent more than the 608 properties sold in March 2020 and 35.9 per cent more than the previous month of February. Sales of condominiums were up 111.8 per cent from March 2020 with 377 units sold. Sales of single family homes were up 88.2 per cent from March 2020 with 574 sold.

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