VICTORIA REAL ESTATE MARKET REPORT FOR JUNE

By
Real Estate Sales Representative with RE/MAX Camosun Victoria BC Real Estate BC Licence #001159

VICTORIA REAL ESTATE MARKET REPORT FOR JUNE

 

Low Inventory and Strong Demand Continue in Victoria Real Estate Market

 

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 percent 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 percent fewer single family homes sold in June 2021 than in the previous month of May.Victoria Real Estate Sales Market Report

 

“We are at a point now where we can look at yearly comparisons with a new lens,” said Victoria Real Estate Board President David Langlois. 

 

In recent months we have been unable to glean anything by comparing year over year numbers because of the sudden and unexpected impact of the pandemic on the 2020 market. But June last year was when the market started its reacceleration. Buyers came back into the market in droves even though listings were restrained compared to long term averages.”

 

There were 1,375 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of June 2021, 49 per cent fewer properties than the 2,698 available at the end of June 2020 and 5.2 per cent fewer than the 1,450 active listings for sale at the end of May 2021.

 

­­The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in June 2020 was $896,700. The benchmark value for the same home in June 2021 increased by 18.6 per cent to $1,063,500, a 2.6 per cent increase from the previous month of May. 

The MLS® HPI benchmark value for a condominium in the Victoria Core in June 2020 was $490,400, while the benchmark value for the same condominium in June 2021 was $531,100, an 8.3 percent increase.

 

“We see now even more sales activity than the return to the market we saw last year,” added Langlois. 

 

“And our inventory is much more restricted, with more than thirteen hundred fewer listings for sale than the year previous. We can see the strong impact this shrinking supply has had on year over year prices. There are many factors we need to watch while this summer’s market unfolds, including the change in borrowing rules that may impact first time buyers, declining levels of inventory and demand from outside of the province as tourism and travel reopens.

 

Speak with me-Fred Carver 250-413-7042 if you’d like fresh insight into our current market.”

 

 Read the statistics package here.

 

Find a Current List of Homes For Sale in Victoria on my website www.VictoriaHomesandProperties.com 

 

Report Source :www.VictoriaHomesandProperties.com

 

VICTORIA REAL ESTATE MARKET REPORT FOR JUNE

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HAVE YOUR BEST YEAR EVER IN 2015 !

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  "Selling Victoria Residential & Income Producing Properties since 1971"

 

Cheers

Fred Carver

Personal Real Estate Corporation

RE/MAX Camosun
Accredited Consultant in Real Estate®

“Recognized by ActiveRain as a 2013-2014 Top Contributor for Real Estate Blogging.”

Direct 250-598-2963   

Over 40 Years Experience selling Real Estate does make a Difference.. call Fred today to Put his 40 years experience to work for You.

4440 Chatterton Way, Victoria, BC V8X 5J2
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Post Copyright © 2016 By Fred Carver Real Estate Corporation All Rights Reserved

Fred Carver Top Realtor Victoria BC

Comments (3)

Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Thanks for sharing your market update with us Fred. Buyers & sellers in your area would benefit from your services. Have a great weekend!

Jul 02, 2021 01:54 PM
Fred Carver Personal Real Estate Corporation

Thanks for dropping by Debe Maxwell, CRS 

Jul 02, 2021 08:57 PM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Victoria home buyers and sellers are sure to value your real estate market report, Fred.

Jul 03, 2021 03:26 AM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Just wanted to stop by and wish you a Happy Fourth of July, Fred.  I hope you are enjoying the holiday weekend!

Jul 04, 2021 01:18 PM