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VICTORIA REAL ESTATE BOARD 3035 Nanaimo Street Victoria, BC V8T 4W2
T 250.385.7766 F 250.385.8773 www.vreb.org www.openhousesvictoria.ca
March 2, 2020
Victoria real estate market shakes off winter doldrums
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.
“February brought the bloom of an early spring market,” says Victoria Real Estate Board President Sandi-Jo Ayers. “Sales numbers are up substantially from last year, which in part indicates that our spring market may have arrived a bit earlier than a lot of our local blossoms. Additionally, we need to consider that last year’s sales activity was quite weak until April and May. Despite a thirty plus percent increase in total sales over last year, our ten-year average for total sales in February is 537, so we are within less than five per cent of our long-term average for the month.”
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.
“One of the most prominent aspects of our market right now is this continued low inventory,” adds Ayers. “Our ten-year average active listings for the month of February is 3,007. We concluded this month with just over 2,000 active listings, which means a lot less choice for consumers, more pressure on pricing and multiple offers.”
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 $521,000.
About the Victoria Real Estate Board – Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards and innovative programs to enhance the professionalism of REALTORS®. The Victoria Real Estate Board represents 1,387 local Realtors. If you are thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing market.
Contact: Denise Hogue, Communications Manager - denise@vreb.org, 250-920-4652
PRESIDENT Sandi-Jo Ayers PRESIDENT ELECT David Langlois TREASURER Karen Dinnie-Smyth PAST PRESIDENT Cheryl Woolley
DIRECTORS Sheila Aujla Robert Cole Jackie Ngai Graden Sol Patrick Novotny EXECUTIVE OFFICER David Corey
01-Mar-2020February 2020Previous Periods Comparison of Unit Sales, Average Prices and Median Prices
Sales by Property Type
Single Family Greater Victoria Single Family Other Areas Single Family Total All Areas Condo Apartment Row/Townhouse Manufactured Home Total Residential Total Sales
Active Listings
Units Median$Average$LY%LM% LY%LM% LY%LM% Units Median$Average$ Units Median$Average$2020 - February
252
17578
8532
271
563
19
2,127
179
1185012
380
200
411
21
1,958
204
1294614
408
219
421
15
2,131
$899,443
$496,077$587,288$185,438
$888,190$738,942
$799,500
$440,000$550,900$185,750
$795,000$660,000
$953,190
$493,213$623,165$172,358
$927,668$710,119
$825,000
$430,500$568,900$142,500
$805,450$618,000
$885,042
$458,575$615,163$187,579
$870,567$673,700
$780,000
$402,900$619,900$182,450
$775,000$600,000
40.8%
48.3%56.0%
-33.3%40.0%
35.5%
37.0%
-9.5%
8.6%
23.5%
35.7%69.6%
-42.9%30.4%
23.7%
33.7%
26.7%
-0.2%
-5.6%
0.6%-5.8%7.6%
-4.3%4.1%
1.6%
8.2%-4.5%-1.1%
2.0%9.7%
-3.1%
2.2%-3.2%30.4%
-1.3%6.8%
2.5%
9.2%-11.1%
1.8%
2.6%10.0%
2020 - January 2019 - February
LegendUnits: net number of listings soldLM%: percentage change since Last MonthLY%: percentage change since This Month Last YearAverage$: average selling priceMedian$: median selling priceActive Listings: total listings on the market at midnight on the last day of the month
This Month Last Month This Month Last Year
1Victoria Real Estate Board Multiple Listing Service ®
February 2020Statistics Package for Media
Victoria Real Estate Board February 2020 Statistics
Previous Periods Comparison of Unit Sales, Average Prices and Median Prices
Previous Periods Comparison of MLS® HPI Benchmark Prices and MLS® HPI Index Values
Victoria Real Estate Board February 2020 Statistics
Sunday, March 01, 2020
Sales to Active Listings Ratio
This chart tracks the ratio of total residential sales over total active residential listings at month-end for each of the last 25 months.The active listing count and the sales count can be viewed as indicators of housing supply and demand respectively. Observing the ratio between them can thus help indicate a "buyers' market", where there is downward pressure on prices, and a "sellers' market", where there is upward pressure on prices.
- below 10%, there is downward pressure on prices (buyers' market) - above 25%, there is upward pressure on prices (sellers' market) - in the 15-20% range, there is little pressure on prices either way (balanced market)
Victoria Real Estate Board February 2020 Statistics
Total new MLS® listings and total MLS® sales for entire district
The Victoria Real Estate Board uses the MLS® Home Price Index (MLS® HPI) to report on market trends. The MLS® HPI uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area.
Through the analysis of over ten years of Victoria Real Estate Board MLS® sales data, the MLS® HPI defined benchmark homes for Victoria in each category (single family homes, townhouses, condos) and for each neighbourhood. The benchmark starting point was 2005, where each type of property and neighbourhood was assigned an index value of 100.
MLS® HPI benchmark and value - Single Family Homes
Victoria Real Estate Board February 2020 Statistics
12MonthsAgo
%Differencefrom12MonthsAgo(February2019toFebruary2020)
SelectTimeframe:
1.AreaGroup
VREBAreaSummary
3.Area/PropertyTypeSelection
All
2.PropertyType
SingleFamily-All(SF-All)
Note:Areaswithinsufficientdatadonotgeneratestatisticsandarenotincludedinthedashboard.
Source:VictoriaRealEstateBoard
Vic
toriaR
EB
–S
F-A
ll
Core
–S
F-A
ll
Wests
hore
–S
F-A
ll
Penin
sula
–S
F-A
ll
GulfIsla
nds–
SF-A
ll
Mala
hat&
Are
a–
SF-A
ll
4.31%
3.49%
7.68%
0.69%
0.39%
5.72%
Victoria Real Estate Board February 2020 Statistics
MLS® HPI benchmark and value - Condominium / Apartments
Victoria Real Estate Board February 2020 Statistics
12MonthsAgo
%Differencefrom12MonthsAgo(February2019toFebruary2020)
SelectTimeframe:
1.AreaGroup
VREBAreaSummary
3.Area/PropertyTypeSelection
All
2.PropertyType
CondoApartment(Con)
Note:Areaswithinsufficientdatadonotgeneratestatisticsandarenotincludedinthedashboard.
Source:VictoriaRealEstateBoard
Vic
toriaR
EB
–C
on
Core
–C
on
Wests
hore
–C
on
Penin
sula
–C
on
4.36%
4.72%
4.09%
1.10%
Note:Areaswithinsufficientdatadonotgeneratestatisticsandarenotincludedinthedashboard.
Source:VictoriaRealEstateBoard
February2020 1MonthAgo 3MonthsAgo 6MonthsAgo 12MonthsAgo 3YearsAgo 5YearsAgo January2005
VictoriaREB–SF-All
Victoria–SF-All
VictoriaWest–SF-All
OakBay–SF-All
Esquimalt–SF-All
ViewRoyal–SF-All
SaanichEast–SF-All
SaanichWest–SF-All
Sooke–SF-All
Langford–SF-All
Metchosin–SF-All
Colwood–SF-All
Highlands–SF-All
NorthSaanich–SF-All
Sidney–SF-All
CentralSaanich–SF-All
MLMalahat&Area–SF-All
GIGulfIslands–SF-All
$967,700
$956,100 $946,900
$941,800
$941,000
$937,700
$934,700$934,700
$923,100$920,400
$885,700 $873,100 $872,700
$868,800 $864,800
$860,400$860,000
$848,600$848,600
$845,000
$838,700 $833,900
$832,000
$824,700 $818,700 $813,500
$809,100
$783,700
$778,200
$774,600 $773,900 $769,000
$767,000
$763,500$762,800
$759,300 $757,700
$756,400
$756,000
$756,000
$754,800
$753,500
$751,000
$749,900
$749,000
$748,500
$747,800
$743,500
$736,900
$735,300
$718,300
$704,800
$703,900$703,200
$693,700
$682,800
$682,600
$681,900$680,600
$675,700
$670,300
$668,100
$664,300
$664,100
$663,500
$662,300
$662,000
$660,600
$659,600
$658,400
$656,700
$656,500
$646,800 $646,100
$641,200 $638,800
$638,000
$635,000
$634,900
$622,200
$620,000
$616,700
$598,400
$588,800
$588,000
$574,800
$573,500
$571,900
$569,800
$568,900 $568,600$565,300$556,200
$555,000
$552,000
$544,300
$543,600
$538,200
$538,000 $536,900
$533,100
$529,500
$523,700 $521,700
$521,500
$511,400
$511,200 $508,600
$500,900
$487,300
$486,900
$456,000
$455,400
$450,600
$443,400
$442,700
$437,700
$426,900
$426,000
$425,600
$403,100
$394,500
$382,300
$370,800
$356,900
$356,300
$348,600
$347,200
$339,100
$332,600
$329,900
$321,500
$308,000
$292,400
$291,500
$284,200
$282,300
$264,900
$1,211,000 $1,197,700$1,185,600 $1,181,200$1,162,400 $1,113,300
BenchmarkPricebyTimeframeandPropertyType
ValueorpercentchangeValuePercentchange
HPIorBenchmarkPriceHPIBenchmarkPrice
1.AreaGroupVREBDistrictSummary
3.Area/PropertyTypeSelectionAll
2.PropertyTypeSingleFamily-All(SF-All)
Note:Areaswithinsufficientdatadonotgeneratestatisticsandarenotincludedinthedashboard.
Source:VictoriaRealEstateBoard
February2020 1MonthAgo 3MonthsAgo 6MonthsAgo 12MonthsAgo 3YearsAgo 5YearsAgo January2005
VictoriaREB–SF-All
Victoria–SF-All
VictoriaWest–SF-All
OakBay–SF-All
Esquimalt–SF-All
ViewRoyal–SF-All
SaanichEast–SF-All
SaanichWest–SF-All
Sooke–SF-All
Langford–SF-All
Metchosin–SF-All
Colwood–SF-All
Highlands–SF-All
NorthSaanich–SF-All
Sidney–SF-All
CentralSaanich–SF-All
MLMalahat&Area–SF-All
GIGulfIslands–SF-All
248.0244.1 240.2 233.7
230.2 229.7229.2
228.5
226.7
226.4
226.2 224.9
224.6
224.5
223.4
223.4
223.1 222.9
222.4
221.5
221.3 221.2
220.8 219.4
219.4
219.4
218.2
218.1218.0
217.4
217.0
215.7
215.3
215.1
214.8 214.0
213.9213.7
212.8
212.5
212.2
211.6211.4
211.1
210.8
210.6
210.1
210.1
209.5
208.5
208.3
208.2 207.4
206.9
206.8
206.4
206.4
205.9
205.2
205.1
205.0204.6
204.0
203.1
202.7
202.7
202.1
201.8
201.7
201.5 201.4
201.3
201.2 201.0
200.2
199.9
199.6
198.6
198.5 197.6
197.0
196.2
195.6
194.3
193.9193.9
193.1 191.8191.8
191.3
190.6
190.1
189.1
185.9
182.9
182.9179.7 179.0
177.8
177.0
176.5
175.4 174.5
173.4
172.1
167.4
159.6
149.9
147.6
147.3
146.8
146.1
146.0
145.7
140.9
140.6
138.3
138.2
137.7
137.1
135.7
135.4
131.4
130.3
128.0
119.6 100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
HPIbyTimeframeandPropertyType
ValueorpercentchangeValuePercentchange
HPIorBenchmarkPriceHPIBenchmarkPrice
1.AreaGroupVREBDistrictSummary
3.Area/PropertyTypeSelectionAll
2.PropertyTypeSingleFamily-All(SF-All)
Note:Areaswithinsufficientdatadonotgeneratestatisticsandarenotincludedinthedashboard.
Source:VictoriaRealEstateBoard
February2020 1MonthAgo 3MonthsAgo 6MonthsAgo 12MonthsAgo 3YearsAgo 5YearsAgo January2005
VictoriaREB–Con
Victoria–Con
VictoriaWest–Con
OakBay–Con
Esquimalt–Con
ViewRoyal–Con
SaanichEast–Con
SaanichWest–Con
Langford–Con
Colwood–Con
Sidney–Con
CentralSaanich–Con
$820,500 $808,600 $785,900$783,500 $765,900 $662,600
$622,700$615,700 $613,600$601,500 $583,500
$520,100
$516,400
$511,900
$510,200 $506,300 $506,100
$504,100
$494,800
$492,600 $491,900
$484,400 $484,200 $483,100
$482,500
$480,700
$480,400
$479,600
$477,900
$477,600
$477,300$476,900 $476,700$475,700
$475,500
$474,900
$468,800
$455,200 $453,800 $448,600
$448,000
$447,400
$442,600
$441,900
$436,300
$434,300
$429,300
$428,900
$428,100
$426,700 $423,400
$421,600
$415,200
$414,300
$408,800 $403,500 $399,500$398,400
$393,700
$384,500
$383,200
$376,500
$371,500
$369,700
$364,300
$361,400$361,300 $348,300
$339,100
$338,800
$338,000
$320,800
$315,200
$312,800
$303,400
$301,100
$300,500
$297,700
$288,600
$275,400
$273,300
$254,500
$253,600
$253,000
$247,400
$244,600
$210,400
$205,500
$205,300
$201,800
$191,100
$179,300
$176,600
$169,700
$162,500
$155,700
BenchmarkPricebyTimeframeandPropertyType
ValueorpercentchangeValuePercentchange
HPIorBenchmarkPriceHPIBenchmarkPrice
1.AreaGroupVREBDistrictSummary
3.Area/PropertyTypeSelectionAll
2.PropertyTypeCondoApartment(Con)
Note:Areaswithinsufficientdatadonotgeneratestatisticsandarenotincludedinthedashboard.
Source:VictoriaRealEstateBoard
February2020 1MonthAgo 3MonthsAgo 6MonthsAgo 12MonthsAgo 3YearsAgo 5YearsAgo January2005
VictoriaREB–Con
Victoria–Con
VictoriaWest–Con
OakBay–Con
Esquimalt–Con
ViewRoyal–Con
SaanichEast–Con
SaanichWest–Con
Langford–Con
Colwood–Con
Sidney–Con
CentralSaanich–Con
268.5
268.3 267.5 264.4
264.2
263.7
262.6 260.6 255.0
252.8
252.5 251.4
251.3
249.9
249.8
248.8
248.3
247.2
246.9
246.4
246.4
246.3
246.1
245.3
243.3
243.3 242.5
242.2
242.2
241.8
240.8
240.0 239.9
239.6
239.4
238.7
238.7
238.2
237.7
236.8
235.1
235.1
234.1 233.8
233.6232.5232.3 232.2
232.1
232.0
232.0
231.7
231.5
231.3
230.6
228.5 226.2
226.1
225.6
223.7
208.7
199.2
195.6
194.4
193.4
191.6
182.1
180.5
180.1
178.9
174.9
171.8
157.1
156.1
152.4
150.0
149.8
146.4
144.9
144.1
143.0
140.2
140.1
123.6
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
HPIbyTimeframeandPropertyType
ValueorpercentchangeValuePercentchange
HPIorBenchmarkPriceHPIBenchmarkPrice
1.AreaGroupVREBDistrictSummary
3.Area/PropertyTypeSelectionAll
2.PropertyTypeCondoApartment(Con)
Note:Areaswithinsufficientdatadonotgeneratestatisticsandarenotincludedinthedashboard.
Source:VictoriaRealEstateBoard
February2020 1MonthAgo 3MonthsAgo 6MonthsAgo 12MonthsAgo 3YearsAgo 5YearsAgo January2005
VictoriaREB–Twn
Victoria–Twn
VictoriaWest–Twn
Esquimalt–Twn
ViewRoyal–Twn
SaanichEast–Twn
SaanichWest–Twn
Sooke–Twn
Langford–Twn
Colwood–Twn
Sidney–Twn
CentralSaanich–Twn
MLMalahat&Area–Twn
GIGulfIslands–Twn
$740,000 $738,600 $731,400$725,300 $723,600
$685,600 $673,200 $673,000$670,700
$647,000 $643,000
$636,500
$636,300
$634,700 $634,100
$630,400
$626,900
$626,700
$625,500
$620,600$620,300
$619,600
$616,700$613,200
$610,600
$606,000
$603,000 $598,800$598,800 $591,200$588,600
$584,400
$583,300
$582,000 $580,400
$580,100$578,500
$577,400
$576,400$571,200
$571,000 $570,700
$569,700$562,800$558,400
$558,100$555,900
$540,300
$538,300
$534,600 $531,900
$528,100 $523,900
$521,100
$519,800
$516,500
$513,400$512,600
$512,200
$507,500
$505,700
$502,900
$502,900
$500,700
$500,000 $499,800
$498,300
$496,800
$496,600
$491,700
$489,300
$488,300
$478,800
$477,700
$474,200$468,300 $466,000$466,000 $457,600
$450,500
$435,300
$432,300
$422,600
$422,300
$402,100
$402,000
$398,500
$398,400
$392,800
$391,500
$389,200
$386,800
$358,400
$356,500
$341,000
$339,600
$338,200
$334,600
$332,100
$321,100
$287,700
$281,400
$269,600
$268,800
$266,100
$261,500
$256,100
$250,100
$247,600
$245,500
$241,900
$234,700
BenchmarkPricebyTimeframeandPropertyType
ValueorpercentchangeValuePercentchange
HPIorBenchmarkPriceHPIBenchmarkPrice
1.AreaGroupVREBDistrictSummary
3.Area/PropertyTypeSelectionAll
2.PropertyTypeTownhouse(Twn)
Note:Areaswithinsufficientdatadonotgeneratestatisticsandarenotincludedinthedashboard.
Source:VictoriaRealEstateBoard
February2020 1MonthAgo 3MonthsAgo 6MonthsAgo 12MonthsAgo 3YearsAgo 5YearsAgo January2005
VictoriaREB–Twn
Victoria–Twn
VictoriaWest–Twn
Esquimalt–Twn
ViewRoyal–Twn
SaanichEast–Twn
SaanichWest–Twn
Sooke–Twn
Langford–Twn
Colwood–Twn
Sidney–Twn
CentralSaanich–Twn
MLMalahat&Area–Twn
GIGulfIslands–Twn
276.9 271.9 271.8270.9 257.0
254.5 250.1246.6
246.0
245.2
242.7
242.3
239.8237.9
230.7
230.2
229.8
224.9 223.5
222.5
220.6 220.4217.9
217.0
217.0
216.8
216.6
215.9
215.8
215.4
215.3
215.2
215.1
214.5
214.3
213.8
213.4
212.8212.8
212.7
212.4 212.3
212.2
211.9
211.7
210.1209.2
209.1208.8
202.2
201.1
200.9 199.9
197.9
194.1
192.3191.2 191.1189.9
188.4
187.6
187.3
186.7
186.7
185.5185.4
185.2
184.2
183.9
183.5
182.9
182.9
182.5
182.0182.0
181.7
178.7
177.1
176.4
175.8
174.7
160.8
158.7
153.7
153.1
152.9
152.7
144.8
143.5
141.6
140.1
139.8
138.5
138.3
134.0
127.0
125.4
117.4
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
HPIbyTimeframeandPropertyType
ValueorpercentchangeValuePercentchange
HPIorBenchmarkPriceHPIBenchmarkPrice
1.AreaGroupVREBDistrictSummary
3.Area/PropertyTypeSelectionAll
2.PropertyTypeTownhouse(Twn)
Note:Areaswithinsufficientdatadonotgeneratestatisticsandarenotincludedinthedashboard.
Source:VictoriaRealEstateBoard
VictoriaREB–SF-All Core–SF-All Westshore–SF-All Peninsula–SF-All
SelectDateRange:Allvalues
Jan2005
Jan2006
Jan2007
Jan2008
Jan2009
Jan2010
Jan2011
Jan2012
Jan2013
Jan2014
Jan2015
Jan2016
Jan2017
Jan2018
Jan2019
Jan2020
Ben
chm
ark
Pric
e($
)
300,000
400,000
500,000
600,000
700,000
800,000
900,000
BenchmarkPricePerformanceoverTime
1.AreaGroupVREBAreaSummary
3.Area/PropertyTypeSelectionMultiplevalues
2.PropertyTypeSingleFamily-All(SF-All)
HPIorBenchmarkPriceHPIBenchmarkPrice
Showhistoricallabelsforcurrentmonth?(1,2,3,5,7,10yearsago)
NoYes
Note:Areaswithinsufficientdatadonotgeneratestatisticsandarenotincludedinthedashboard.
Source:VictoriaRealEstateBoard
VictoriaREB–Con Core–Con Westshore–Con Peninsula–Con
SelectDateRange:Allvalues
Jan2005
Jan2006
Jan2007
Jan2008
Jan2009
Jan2010
Jan2011
Jan2012
Jan2013
Jan2014
Jan2015
Jan2016
Jan2017
Jan2018
Jan2019
Jan2020
Ben
chmarkPrice($)
200,000
250,000
300,000
350,000
400,000
450,000
500,000
BenchmarkPricePerformanceoverTime
1.AreaGroupVREBAreaSummary
3.Area/PropertyTypeSelectionAll
2.PropertyTypeCondoApartment(Con)
HPIorBenchmarkPriceHPIBenchmarkPrice
Showhistoricallabelsforcurrentmonth?(1,2,3,5,7,10yearsago)
NoYes
Note:Areaswithinsufficientdatadonotgeneratestatisticsandarenotincludedinthedashboard.
Source:VictoriaRealEstateBoard
VictoriaREB–Twn Core–Twn Westshore–Twn Peninsula–Twn
SelectDateRange:Allvalues
Jan2005
Jan2006
Jan2007
Jan2008
Jan2009
Jan2010
Jan2011
Jan2012
Jan2013
Jan2014
Jan2015
Jan2016
Jan2017
Jan2018
Jan2019
Jan2020
Ben
chmarkPrice($)
300,000
400,000
500,000
600,000
BenchmarkPricePerformanceoverTime
1.AreaGroupVREBAreaSummary
3.Area/PropertyTypeSelectionMultiplevalues
2.PropertyTypeTownhouse(Twn)
HPIorBenchmarkPriceHPIBenchmarkPrice
Showhistoricallabelsforcurrentmonth?(1,2,3,5,7,10yearsago)
NoYes
Note:Areaswithinsufficientdatadonotgeneratestatisticsandarenotincludedinthedashboard.
Source:VictoriaRealEstateBoard
VictoriaREB–SF-All VictoriaREB–Twn VictoriaREB–Con
SelectDateRange:Allvalues
Jan2005
Jan2006
Jan2007
Jan2008
Jan2009
Jan2010
Jan2011
Jan2012
Jan2013
Jan2014
Jan2015
Jan2016
Jan2017
Jan2018
Jan2019
Jan2020
Ben
chm
ark
Pric
e($
)
200,000
300,000
400,000
500,000
600,000
700,000
BenchmarkPricePerformanceoverTime
1.AreaGroupVREBAreaSummary
3.Area/PropertyTypeSelectionMultiplevalues
2.PropertyTypeMultiplevalues
HPIorBenchmarkPriceHPIBenchmarkPrice
Showhistoricallabelsforcurrentmonth?(1,2,3,5,7,10yearsago)
NoYes
Monthly Sales SummarySunday, March 1, 2020
Units Total Volume
February 2020
Region
District
ResidentialSingle Familyl
Greater Victoria
Victoria 32 $32,089,538
Victoria West 3 $2,376,000
Oak Bay 11 $15,513,000
Esquimalt 8 $5,940,000
View Royal 8 $6,045,000
Saanich East 40 $40,585,288
Saanich West 16 $12,494,151
Central Saanich 7 $5,516,000
North Saanich 14 $13,967,439
Sidney 14 $10,315,500
Highlands 3 $3,832,000
Colwood 14 $10,551,300
Langford 41 $31,710,529
Metchosin 6 $5,724,900
Sooke 22 $12,506,116
Waterfront (all districts) 13 $17,492,875
Total Greater Victoria 252 $226,659,636
Other Areas
Shawnigan Lake / Malahat 7 $4,609,900
Gulf Islands 5 $3,961,000
UpIsland / Mainland 4 $2,854,000
Waterfront (all districts) 3 $2,615,000
Total Other Areas 19 $14,039,900
Total Single Family 271 $240,699,536
Condo Apartmentl
Greater Victoria
Victoria 76 $38,397,518
Victoria West 5 $3,484,000
Oak Bay 3 $1,336,000
Esquimalt 8 $3,246,849
View Royal 4 $1,938,370
Saanich East 22 $11,771,100
Saanich West 11 $4,785,250
Central Saanich 8 $3,924,300
North Saanich 1 $500,000
Sidney 6 $3,017,502
Colwood 3 $1,199,000
Langford 16 $6,463,100
Sooke 3 $1,017,500
Waterfront (all districts) 7 $5,425,900
Total Greater Victoria 173 $86,506,389
Other Areas
UpIsland / Mainland 2 $307,000
Total Other Areas 2 $307,000
Total Condo Apartment 175 $86,813,389
1Victoria Real Estate Board Multiple Listing Service ®
Monthly Sales SummarySunday, March 1, 2020
Units Total Volume
February 2020
Region
District
Row/Townhousel
Greater Victoria
Victoria 5 $3,114,400
Esquimalt 4 $2,431,250
View Royal 7 $4,554,700
Saanich East 5 $4,252,500
Saanich West 8 $5,414,900
Central Saanich 5 $3,086,000
Sidney 5 $2,550,000
Colwood 2 $1,120,900
Langford 30 $15,552,795
Sooke 5 $2,609,150
Waterfront (all districts) 1 $749,900
Total Greater Victoria 77 $45,436,495
Other Areas
UpIsland / Mainland 1 $372,000
Total Other Areas 1 $372,000
Total Row/Townhouse 78 $45,808,495
Manufactured Homel
Greater Victoria
View Royal 2 $397,000
Central Saanich 3 $635,000
Langford 1 $109,000
Sooke 1 $222,500
Waterfront (all districts) 1 $120,000
Total Greater Victoria 8 $1,483,500
Total Manufactured Home 8 $1,483,500
Total Residential 532 $374,804,920
2Victoria Real Estate Board Multiple Listing Service ®
Monthly Sales SummarySunday, March 1, 2020
Units Total Volume
February 2020
Region
District
Grand Totals 563 $393,505,201
10 $6,325,082Other Commercial Propertiesl
Other Property
Lots & Acreage (Incl Wtrfrnt)l
Greater Victoria
Victoria 1 $655,000
Oak Bay 1 $2,200,000
Esquimalt 2 $1,886,500
North Saanich 4 $2,224,000
Langford 5 $2,077,299
Metchosin 1 $385,000
Sooke 2 $753,400
Total Greater Victoria 16 $10,181,199
Other Areas
Gulf Islands 4 $1,994,000
UpIsland / Mainland 1 $200,000
Total Other Areas 5 $2,194,000
Total Lots & Acreage (Incl Wtrfrnt) 21 $12,375,199
3Victoria Real Estate Board Multiple Listing Service ®
Active Listings, New Listings and Sales February 2020Sunday, March 01, 2020
1,200
1,400
1,600
1,800
2,000
2,200
2,400
2,600
2,800
3,000
3,200
3,400
3,600
3,800
4,000
Feb
2018
Mar
201
8
Apr 2
018
May
201
8
Jun
2018
Jul 2
018
Aug
2018
Sep
2018
Oct
201
8
Nov
201
8
Dec
201
8
Jan
2019
Feb
2019
Mar
201
9
Apr 2
019
May
201
9
Jun
2019
Jul 2
019
Aug
2019
Sep
2019
Oct
201
9
Nov
201
9
Dec
201
9
Jan
2020
Feb
2020
Total Active MLS® Listings
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Feb
2018
Mar
201
8
Apr 2
018
May
201
8
Jun
2018
Jul 2
018
Aug
2018
Sep
2018
Oct
201
8
Nov
201
8
Dec
201
8
Jan
2019
Feb
2019
Mar
201
9
Apr 2
019
May
201
9
Jun
2019
Jul 2
019
Aug
2019
Sep
2019
Oct
201
9
Nov
201
9
Dec
201
9
Jan
2020
Feb
2020
Total New MLS® Listings and Total MLS® Sales
Listings Sales
Victoria Real Estate Board Multiple Listing Service ®
Sales to Active Listings Ratio February 2020Sunday, March 01, 2020
10%
20%
30%
40%
50%
60%
70%
80%
90%
Feb
2018
Mar
201
8
Apr 2
018
May
201
8
Jun
2018
Jul 2
018
Aug
2018
Sep
2018
Oct
201
8
Nov
201
8
Dec
201
8
Jan
2019
Feb
2019
Mar
201
9
Apr 2
019
May
201
9
Jun
2019
Jul 2
019
Aug
2019
Sep
2019
Oct
201
9
Nov
201
9
Dec
201
9
Jan
2020
Feb
2020
Victoria Real Estate Board Multiple Listing Service ®
The Sales to Active Listings Ratio
This chart tracks the ratio of total residential sales over total active residential listings at month-end for each of the last 25 months.
The active listing count and the sales count can be viewed as indicators of housing supply and demand respectively. Observing the ratio between them can thus help indicate a "buyers' market", where there is sustained downward pressure on prices, and a "sellers' market", where there is sustained upward pressure on prices.
Based on a regression analysis performed by the Economics Department of the BC Real Estate Association in each market area of the province, the Sales to Active Listings Ratio for Victoria can be interpreted as follows:
- below 14%, there is downward pressure on prices (buyers' market)- above 20%, there is upward pressure on prices (sellers' market)- in the 14-20% range, there is little pressure on prices either way (balanced market)
Monthly Comparative Activity By Property Type March 1, 2020
February 2020
Current Month
This Year % ChangeLast Year
Year To Date
This Year % ChangeLast Year
Single Family - Residential
Units Listed 362
Units Sold 231
Sell/List Ratio 64
Sales Dollars $197,152,861
Average Price / Unit $853,476
Price Ratio 98
Days To Sell 44
Active Listings at Month End 561
%
%
321
191
60
$163,523,730
$856,145
98
40
709
%
%
13
21
21
0
11
-21
%
%
%
%
%
%
666
391
59
$339,770,462
$868,978
98
51
%
%
694
318
46
$261,989,871
$823,868
97
48
%
%
-4
23
30
5
8
%
%
%
%
%
Single Family - Residential Waterfront
Units Listed 38
Units Sold 16
Sell/List Ratio 42
Sales Dollars $20,107,875
Average Price / Unit $1,256,742
Price Ratio 98
Days To Sell 49
Active Listings at Month End 130
%
%
16
8
50
$10,982,500
$1,372,813
96
144
111
%
%
138
100
83
-8
-66
17
%
%
%
%
%
%
66
28
42
$38,558,375
$1,377,085
95
98
%
%
38
14
37
$20,109,000
$1,436,357
93
160
%
%
74
100
92
-4
-39
%
%
%
%
%
Single Family - Residential Acreage
Units Listed 28
Units Sold 16
Sell/List Ratio 57
Sales Dollars $17,308,800
Average Price / Unit $1,081,800
Price Ratio 97
Days To Sell 112
Active Listings at Month End 91
%
%
22
12
55
$10,762,000
$896,833
97
117
95
%
%
27
33
61
21
-4
-4
%
%
%
%
%
%
55
35
64
$37,024,300
$1,057,837
95
99
%
%
45
27
60
$25,866,650
$958,024
97
115
%
%
22
30
43
10
-14
%
%
%
%
%
Condo Apartment
Units Listed 318
Units Sold 175
Sell/List Ratio 55
Sales Dollars $86,813,389
Average Price / Unit $496,077
Price Ratio 99
Days To Sell 37
Active Listings at Month End 549
%
%
231
129
56
$59,156,174
$458,575
98
39
443
%
%
38
36
47
8
-5
24
%
%
%
%
%
%
613
293
48
$145,012,524
$494,923
98
41
%
%
477
240
50
$105,556,819
$439,820
98
43
%
%
29
22
37
13
-7
%
%
%
%
%
1Victoria Real Estate Board Multiple Listing Service ®
Monthly Comparative Activity By Property Type March 1, 2020
February 2020
Current Month
This Year % ChangeLast Year
Year To Date
This Year % ChangeLast Year
Row/Townhouse
Units Listed 129
Units Sold 78
Sell/List Ratio 60
Sales Dollars $45,808,495
Average Price / Unit $587,288
Price Ratio 99
Days To Sell 53
Active Listings at Month End 202
%
%
69
46
67
$28,297,499
$615,163
99
44
178
%
%
87
70
62
-5
21
13
%
%
%
%
%
%
240
128
53
$76,966,767
$601,303
99
57
%
%
169
83
49
$50,333,230
$606,424
98
45
%
%
42
54
53
-1
27
%
%
%
%
%
Half Duplex (Up and Down)
Units Listed 0
Units Sold 0
Sell/List Ratio
Sales Dollars $0
Average Price / Unit
Price Ratio
Days To Sell
Active Listings at Month End 2
%
%
0
0
$0
0
%
%
%
%
%
%
%
%
1
1
100
$321,000
$321,000
94
64
%
%
0
0
$0
%
%
%
%
%
%
%
Half Duplex (Side by Side)
Units Listed 10
Units Sold 4
Sell/List Ratio 40
Sales Dollars $2,479,000
Average Price / Unit $619,750
Price Ratio 98
Days To Sell 60
Active Listings at Month End 12
%
%
6
6
100
$3,856,000
$642,667
97
100
13
%
%
67
-33
-36
-4
-40
-8
%
%
%
%
%
%
14
5
36
$3,264,000
$652,800
99
50
%
%
13
10
77
$6,425,400
$642,540
98
101
%
%
8
-50
-49
2
-51
%
%
%
%
%
Half Duplex (Front and Back)
Units Listed 2
Units Sold 1
Sell/List Ratio 50
Sales Dollars $800,000
Average Price / Unit $800,000
Price Ratio 100
Days To Sell 8
Active Listings at Month End 2
%
%
1
1
100
$730,000
$730,000
97
71
2
%
%
100
0
10
10
-89
0
%
%
%
%
%
%
4
4
100
$2,525,400
$631,350
99
42
%
%
2
1
50
$730,000
$730,000
97
71
%
%
100
300
246
-14
-41
%
%
%
%
%
2Victoria Real Estate Board Multiple Listing Service ®
Monthly Comparative Activity By Property Type March 1, 2020
February 2020
Current Month
This Year % ChangeLast Year
Year To Date
This Year % ChangeLast Year
Recreational
Units Listed 1
Units Sold 0
Sell/List Ratio 0
Sales Dollars $0
Average Price / Unit
Price Ratio
Days To Sell
Active Listings at Month End 13
%
%
3
0
0
$0
13
%
%
-67
0
%
%
%
%
%
%
3
2
67
$98,500
$49,250
90
251
%
%
4
0
0
$0
%
%
-25 %
%
%
%
%
Manufactured Home
Units Listed 17
Units Sold 8
Sell/List Ratio 47
Sales Dollars $1,483,500
Average Price / Unit $185,438
Price Ratio 95
Days To Sell 34
Active Listings at Month End 36
%
%
16
14
88
$2,626,100
$187,579
93
48
40
%
%
6
-43
-44
-1
-28
-10
%
%
%
%
%
%
35
20
57
$3,551,800
$177,590
95
67
%
%
31
23
74
$4,639,388
$201,713
93
63
%
%
13
-13
-23
-12
7
%
%
%
%
%
Residential Lot
Units Listed 23
Units Sold 14
Sell/List Ratio 61
Sales Dollars $8,298,074
Average Price / Unit $592,720
Price Ratio 101
Days To Sell 90
Active Listings at Month End 135
%
%
21
5
24
$1,441,275
$288,255
96
133
169
%
%
10
180
476
106
-33
-20
%
%
%
%
%
%
58
27
47
$10,980,474
$406,684
100
180
%
%
68
15
22
$4,539,975
$302,665
95
124
%
%
-15
80
142
34
45
%
%
%
%
%
Residential Lot - Waterfront
Units Listed 14
Units Sold 2
Sell/List Ratio 14
Sales Dollars $1,603,125
Average Price / Unit $801,563
Price Ratio 89
Days To Sell 500
Active Listings at Month End 28
%
%
3
1
33
$800,000
$800,000
89
13
18
%
%
367
100
100
0
3742
56
%
%
%
%
%
%
15
2
13
$1,603,125
$801,563
89
500
%
%
4
1
25
$800,000
$800,000
89
13
%
%
275
100
100
0
3742
%
%
%
%
%
3Victoria Real Estate Board Multiple Listing Service ®
Monthly Comparative Activity By Property Type March 1, 2020
February 2020
Current Month
This Year % ChangeLast Year
Year To Date
This Year % ChangeLast Year
Residential Acreage
Units Listed 18
Units Sold 2
Sell/List Ratio 11
Sales Dollars $1,030,000
Average Price / Unit $515,000
Price Ratio 94
Days To Sell 188
Active Listings at Month End 80
%
%
7
4
57
$2,400,500
$600,125
90
173
72
%
%
157
-50
-57
-14
9
11
%
%
%
%
%
%
32
9
28
$8,239,000
$915,444
94
127
%
%
22
7
32
$4,669,500
$667,071
92
192
%
%
45
29
76
37
-34
%
%
%
%
%
Residential Acreage - Waterfront
Units Listed 3
Units Sold 3
Sell/List Ratio 100
Sales Dollars $1,444,000
Average Price / Unit $481,333
Price Ratio 92
Days To Sell 122
Active Listings at Month End 22
%
%
4
1
25
$675,000
$675,000
92
156
20
%
%
-25
200
114
-29
-22
10
%
%
%
%
%
%
6
4
67
$1,769,000
$442,250
94
95
%
%
7
1
14
$675,000
$675,000
92
156
%
%
-14
300
162
-34
-39
%
%
%
%
%
Revenue - Duplex/Triplex
Units Listed 10
Units Sold 3
Sell/List Ratio 30
Sales Dollars $2,851,000
Average Price / Unit $950,333
Price Ratio 104
Days To Sell 11
Active Listings at Month End 8
%
%
0
1
$799,900
$799,900
100
27
3
%
%
200
256
19
-58
167
%
%
%
%
%
%
11
5
45
$4,671,000
$934,200
100
60
%
%
2
1
50
$799,900
$799,900
100
27
%
%
450
400
484
17
121
%
%
%
%
%
Revenue - Multi Unit
Units Listed 3
Units Sold 0
Sell/List Ratio 0
Sales Dollars $0
Average Price / Unit
Price Ratio
Days To Sell
Active Listings at Month End 8
%
%
3
0
0
$0
10
%
%
0
-20
%
%
%
%
%
%
4
0
0
$0
%
%
3
0
0
$0
%
%
33 %
%
%
%
%
4Victoria Real Estate Board Multiple Listing Service ®
Monthly Comparative Activity By Property Type March 1, 2020
February 2020
Current Month
This Year % ChangeLast Year
Year To Date
This Year % ChangeLast Year
Revenue - Apartment Block
Units Listed 3
Units Sold 0
Sell/List Ratio 0
Sales Dollars $0
Average Price / Unit
Price Ratio
Days To Sell
Active Listings at Month End 6
%
%
4
0
0
$0
6
%
%
-25
0
%
%
%
%
%
%
4
1
25
$5,600,000
$5,600,000
95
114
%
%
5
0
0
$0
%
%
-20 %
%
%
%
%
Revenue - Commercial
Units Listed 7
Units Sold 2
Sell/List Ratio 29
Sales Dollars $1,665,000
Average Price / Unit $832,500
Price Ratio 98
Days To Sell 106
Active Listings at Month End 39
%
%
10
0
0
$0
30
%
%
-30
30
%
%
%
%
%
%
12
3
25
$1,904,900
$634,967
98
77
%
%
14
2
14
$535,000
$267,500
95
88
%
%
-14
50
256
137
-13
%
%
%
%
%
Revenue - Industrial
Units Listed 0
Units Sold 0
Sell/List Ratio
Sales Dollars $0
Average Price / Unit
Price Ratio
Days To Sell
Active Listings at Month End 1
%
%
0
0
$0
1
%
%
0
%
%
%
%
%
%
1
0
0
$0
%
%
0
0
$0
%
%
%
%
%
%
%
Business with Land & Building
Units Listed 10
Units Sold 1
Sell/List Ratio 10
Sales Dollars $4,500,000
Average Price / Unit $4,500,000
Price Ratio 92
Days To Sell 70
Active Listings at Month End 29
%
%
4
0
0
$0
29
%
%
150
0
%
%
%
%
%
%
18
5
28
$9,481,000
$1,896,200
89
258
%
%
9
2
22
$3,719,000
$1,859,500
95
28
%
%
100
150
155
2
823
%
%
%
%
%
5Victoria Real Estate Board Multiple Listing Service ®
Monthly Comparative Activity By Property Type March 1, 2020
February 2020
Current Month
This Year % ChangeLast Year
Year To Date
This Year % ChangeLast Year
Business Only
Units Listed 16
Units Sold 2
Sell/List Ratio 13
Sales Dollars $160,000
Average Price / Unit $80,000
Price Ratio 91
Days To Sell 51
Active Listings at Month End 67
%
%
7
0
0
$0
76
%
%
129
-12
%
%
%
%
%
%
29
5
17
$316,000
$63,200
83
111
%
%
25
2
8
$89,000
$44,500
64
48
%
%
16
150
255
42
133
%
%
%
%
%
Motel/Hotel
Units Listed 0
Units Sold 0
Sell/List Ratio
Sales Dollars $0
Average Price / Unit
Price Ratio
Days To Sell
Active Listings at Month End 3
%
%
0
0
$0
1
%
%
200
%
%
%
%
%
%
1
0
0
$0
%
%
0
0
$0
%
%
%
%
%
%
%
Lease - Office
Units Listed 4
Units Sold 2
Sell/List Ratio 50
Sales Dollars $40
Average Price / Unit $20
Price Ratio
Days To Sell 402
Active Listings at Month End 28
%
%
4
2
50
$39
$19
471
32
%
%
0
0
4
4
-15
-13
%
%
%
%
%
%
10
2
20
$40
$20
402
%
%
9
2
22
$39
$19
471
%
%
11
0
4
4
-15
%
%
%
%
%
Lease - Retail
Units Listed 3
Units Sold 3
Sell/List Ratio 100
Sales Dollars $42
Average Price / Unit $14
Price Ratio
Days To Sell 437
Active Listings at Month End 22
%
%
0
0
$0
18
%
%
22
%
%
%
%
%
%
9
4
44
$59
$15
351
%
%
2
1
50
$18
$18
92
%
%
350
300
236
-16
281
%
%
%
%
%
6Victoria Real Estate Board Multiple Listing Service ®
Monthly Comparative Activity By Property Type March 1, 2020
February 2020
Current Month
This Year % ChangeLast Year
Year To Date
This Year % ChangeLast Year
Lease - Warehouse
Units Listed 0
Units Sold 0
Sell/List Ratio
Sales Dollars $0
Average Price / Unit
Price Ratio
Days To Sell
Active Listings at Month End 0
%
%
0
0
$0
0
%
%
%
%
%
%
%
%
0
0
$0
%
%
0
0
$0
%
%
%
%
%
%
%
Lease - Industrial
Units Listed 0
Units Sold 0
Sell/List Ratio
Sales Dollars $0
Average Price / Unit
Price Ratio
Days To Sell
Active Listings at Month End 0
%
%
0
0
$0
0
%
%
%
%
%
%
%
%
0
0
$0
%
%
0
0
$0
%
%
%
%
%
%
%
Lease - Other
Units Listed 6
Units Sold 0
Sell/List Ratio 0
Sales Dollars $0
Average Price / Unit
Price Ratio
Days To Sell
Active Listings at Month End 36
%
%
4
0
0
$0
28
%
%
50
29
%
%
%
%
%
%
14
0
0
$0
%
%
7
0
0
$0
%
%
100 %
%
%
%
%
Commercial Land
Units Listed 2
Units Sold 0
Sell/List Ratio 0
Sales Dollars $0
Average Price / Unit
Price Ratio
Days To Sell
Active Listings at Month End 17
%
%
1
0
0
$0
14
%
%
100
21
%
%
%
%
%
%
7
0
0
$0
%
%
4
0
0
$0
%
%
75 %
%
%
%
%
7Victoria Real Estate Board Multiple Listing Service ®
Monthly Comparative Activity By Property Type March 1, 2020
February 2020
Current Month
This Year % ChangeLast Year
Year To Date
This Year % ChangeLast Year
Units Listed 1027
Units Sold 563
Sell/List Ratio 55
Sales Dollars $393,505,201
Average Price / Unit $698,944
Price Ratio 98
Days To Sell 52
Active Listings at Month End 2127
%
%
Grand Totals
757
421
56
$286,050,717
$679,455
98
50
2131
%
%
36
34
38
3
5
0
%
%
%
%
%
%
1928
974
51
$691,657,726
$710,121
98
61
%
%
1654
750
45
$491,477,789
$655,304
97
56
%
%
17
30
41
8
10
%
%
%
%
%
8Victoria Real Estate Board Multiple Listing Service ®
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