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Victoria real estate market experiences an active summer


A total of 979 properties sold in the Victoria Real Estate Board region this August, 48.1 per cent more than the 661 properties sold in August 2019 and exactly the same total as the previous month of July 2020. Sales of condominiums were up 29.1 per cent from August 2019 with 262 units sold. Sales of single family homes were up 45 per cent from August 2019 with 509 sold.


"Once again we saw a very active month in terms of property transactions," says Victoria Real Estate Board President Sandi-Jo Ayers. "And once again I will note that this is not a trend, but that this is our market at this moment in time during a unique situation. It is a challenging time to define what is happening in the market given so many factors that don't exist in a normal year. We have been surprised by the pace of the summer market and are grappling with the evolving socio-economic effects of the pandemic and how these underlying factors will influence our fall real estate market."


There were 2,584 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2020, 8.9 per cent fewer properties than the total available at the end of August 2019 and a 2.6 per cent decrease from the 2,653 active listings for sale at the end of July 2020.  


"What I do know is that our business has changed a lot in recent months," adds Ayers. "REALTORS® have adapted to health and safety requirements and much more technology is being leveraged to facilitate all aspects of the housing transaction. We can also see that though demand is up, there are fewer listings on the market, which increases demand on desirable properties even more. This is why we saw a lot of competition and multiple offers over the summer. Will this continue into fall? That will depend on how much new inventory comes into the market and how our community continues to manage the impact of COVID-19. This is an evolving and nuanced market. As always, it is a good time to connect with your Realtor if you're considering selling or buying. If you need us, we are here."


The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in August 2019 was $849,500. The benchmark value for the same home in August 2020 increased by 4.7 per cent to $889,200, 2.3 per cent less than July's value of $909,700. The MLS® HPI benchmark value for a condominium in the Victoria Core in August 2019 was $518,000, while the benchmark value for the same condominium in August 2020 decreased by 0.8 per cent to $513,900, 3.2 per cent less than the July value of $530,800.



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Here for your review is an updated member list of all Home Inspector Association BC (HIABC) home inspectors in your service area. This information below is provided by Helene Barton HIABC Executive Director.  

HIABC licensed inspectors are qualified to the highest standards in training, education, ethics and professionalism. 


Their association continues to work with government to improve the current regulation requirements as set by Consumer Protection BC for the home inspection industry.  HIABC does not agree with or adhere to these reduced requirements implemented by CPBC.  Members of HIABC must follow a rigorous code of ethics, report writing verification, and mandatory continued education, and our new trainee inspectors must meet considerably higher criteria for training to meet HIABC membership standards.


HIABC remain committed to BC consumers and are concerned with the sharing of outdated inspection reports with new buyers.  Helene has asked us, as...

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A bit delayed on this post as it is happening today. Hope you have a chance to attend and enjoy this event.

One of the best events of the year is back! Join the Vic West Food Security Collective on Sunday September 15th from 12:00 – 4:00PM for their annual Corn Roast! The event features Zucchini Car Races, Scarecrow Competitions, Apple Pie Contests, and of course lots and lots of Corn! 

With out volunteers, events like this wouldn’t be possible! Contact Julie at volunteer@victoriawest.ca to get involved.

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November 2011

Well I did it. I set out to accomplish a goal and in the ten week time frame that I had to compete I not only completed my objective I also took home not one, but TWO trophies in acknowledgement of my success.  My initial plan, when agreeing to enter into my first ever competition, was to register for the Bikini Model category and to join my friend Sandra Rodriguez in Vancouver for her entry into her third competition. Her registration would have been in the Muscle Figure category for the annual Sandra Wickham, IFBB Fitness Pro

My friend Sandra and I both trained side by side at our local Victoria YM/YWCA center and while anticipating the upcoming event we often shared on our food likes and dislikes.   She cannot stand the texture of sweet potatoes and I was gagging at the thought of having to eat more millet. The scientific nutritional plan that our trainer Jose Flores had designed for us was working incredibly well in spite of our challenges with some...

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November 10, 2011

 

SUCCESS STRATEGIES THAT CAN BE APPLIED TO ANYTHING

Are you considering making a real estate move now or in the near future?  Have you considered the consequences of following through on such a decision?  A real estate investment for many is one of the largest investments made in one’s life.  The stress and anxiety resulting from such a decision can be enough to cause regret for even the toughest contenders out there.  I know firsthand as a competitor for my first upcoming Athletic Fitness competition that going it alone would not result in the excitement and anticipation that I feel today just two days away from this event.  Had I attempted to venture on my own into this journey two months ago when first ask by my friend Sandra to train with her, I would have quickly changed my mind and quit.  Having support in both our biggest life’s decision along with even the smallest ones can be the trustiest secret to our success. ...

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NOTE: MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification. This website may only be used by consumers for the purpose of locating and purchasing real estate.