Doug Holloway

Buying or selling a home can be one of life’s most exciting milestones and I consider it a privilege to help you reach your real estate goals. I am dedicated to developing life-long relationships with my clients, all while focusing on my ultimate goal of helping you find a home.

Victoria Market Report Infographics

Thursday, May 5, 2022 3:51:39 PM UTC
INFOGRAPHICS: April 2022 VREB Victoria Market Reports

Spring is traditionally the busiest real estate season, but early on Victoria’s market sees a change in tempo

A total of 824 properties sold in the Victoria Real Estate Board region this April, 26.2 per cent fewer than the 1,116 properties sold in April 2021 and a 1.1 per cent decrease from March 2022. Sales of condominiums were down 20.8 per cent from April 2021 with 262 units sold. Sales of single family homes decreased 28.5 per cent from April 2021 with 403 sold.

“The past month concluded with notably lower sales when compared to April of last year,” said 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “This tells an interesting story because activity traditionally peaks over the course of the spring, and this year we have seen a gradual softening of the market. As we have reported many times in the past years, the market hinges on supply and demand. Rising interest rates and inflationary pressures on top of higher prices throughout the region have combined to introduce new market dynamics because of waning demand that consumers and their REALTORS® are now navigating. Our inventory levels remain well below historic averages, so prices remain buoyant because the supply is still much lower than this recent decrease in demand.”

There were 1,365 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of April 2022, an increase of 28.4 per cent compared to the previous month of March but a 6.1 per cent decrease from the 1,454 active listings for sale at the end of April 2021.

Read the full report on VREB website!

 


 

The following data is a comparison between April 2022 and April 2021 numbers, and is current as of May 2022. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – April 2022 VREB, Victoria Market Report

 

 

 

 

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INFOGRAPHICS: March 2022 VREB Victoria Market Reports

Victoria real estate market continues to experience low inventory and high demand

A total of 833 properties sold in the Victoria Real Estate Board region this March, 29 per cent fewer than the 1,173 properties sold in March 2021 but a 16 per cent increase from February 2022. Sales of condominiums were down 26 per cent from March 2021 with 279 units sold. Sales of single family homes decreased 28.2 per cent from March 2021 with 412 sold.

“Once again, we have had a record breaker of a month,” said 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “This March had the lowest number of active listings we have seen in a month of March – beating last year’s record low. For context, in the past five years the average number of active listings at the end of March is 1,864 properties. This March had just over one thousand properties at month end. We did see more homes come to market this month compared to February – which is a positive sign – but our supply is still so constricted that multiple offers and competition continues, especially in the lower price ranges. We may see a lift in that pressure if more listings come to market over the spring, but since our inventory is so much lower than average, we have a long way to go to find balance.”

There were 1,063 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of March 2022, an increase of 25.2 per cent compared to the previous month of February but an 18.9 per cent decrease from the 1,310 active listings for sale at the end of March 2021.

Read the full report on VREB website!

 


 

The following data is a comparison between March 2022 and March 2021 numbers, and is current as of March 2022. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – March 2022 VREB, Victoria Market Report

 

 

 

 

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INFOGRAPHICS: February 2022 VREB Victoria Market Reports

Record low inventory prevents Victoria real estate market from cooling-off

A total of 718 properties sold in the Victoria Real Estate Board region this February, 16.8 per cent fewer than the 863 properties sold in February 2021 but a 51.5 per cent increase from January 2021. Sales of condominiums were down 7.9 per cent from February 2021 with 267 units sold. Sales of single family homes decreased 20.8 per cent from February 2021 with 309 sold.

“It was heartening this month to see some more listings come to market in February,” said 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “However, inventory levels remain at record lows and without a strong government focus on increasing supply, buyers will continue to face escalating prices and difficult market conditions.”

There were 849 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of February 2022, an increase of 14.1 per cent compared to the previous month of January but a 35.6 per cent decrease from the 1,318 active listings for sale at the end of February 2021.

Read the full report on VREB website!

 


 

The following data is a comparison between February 2022 and February 2021 numbers, and is current as of March 2022. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – February 2022 VREB, Victoria Market Report

 

 

 

 

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INFOGRAPHICS: January 2022 VREB Victoria Market Reports

Limited inventory continues to be key in Victoria real estate market

A total of 474 properties sold in the Victoria Real Estate Board region this January, 26.6 per cent fewer than the 646 properties sold in January 2021 but an 8.2 per cent increase from December 2021. Sales of condominiums were down 13 per cent from January 2021 with 188 units sold. Sales of single family homes decreased 39.7 per cent from January 2021 with 179 sold.

“A cursory glance at our sales numbers could lead to the quick conclusion that our market is slowing down,” says 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “But what we must consider is not only the number of homes that have sold, but also the number of homes which were for available for sale within the month. To put our inventory into context, last year broke the record for lowest inventory for the month of January. This January broke that record nearly in half and that lack of supply in the market really impacts what our end sales numbers are. Had we seen more homes for sale, it’s likely our result would have been many more sales.”

There were 744 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2022, an increase of 14.1 per cent compared to the previous month of December and a 43.7 per cent decrease from the 1,321 active listings for sale at the end of January 2021.

Read the full report on VREB website!

 


 

The following data is a comparison between January 2022 and January 2021 numbers, and is current as of February 2022. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – December 2021 VREB, Victoria Market Report

 

 

 

 

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INFOGRAPHICS: December 2021 VREB Victoria Market Reports

The 2021 Victoria real estate market year in review

A total of 438 properties sold in the Victoria Real Estate Board region this December, 30.6 per cent fewer than the 631 properties sold in December 2020 and a 32.9 per cent decrease from November 2021. Sales of condominiums were down 22.1 per cent from December 2020 with 152 units sold. Sales of single family homes decreased 34.1 per cent from December 2020 with 207 sold.

A grand total of 10,052 properties sold over the course of 2021, 18.3 per cent more than the 8,497 that sold in 2020. 2021 sales came in close to 2016’s record breaking sales year where 10,622 properties were sold.

Read the full report on VREB website!

 


 

The following data is a comparison between December 2020 and December 2021 numbers, and is current as of January 2022. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – December 2021 VREB, Victoria Market Report

 

 

 

 

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INFOGRAPHICS: November 2021 VREB Victoria Market Reports

No change on the horizon for the Victoria real estate market

A total of 653 properties sold in the Victoria Real Estate Board region this November, 17.9 per cent fewer than the 795 properties sold in November 2020 and 12.3 per cent fewer than the previous month of October. 236 condominiums sold, 5.2 per cent fewer than in the previous month of October. 276 single family homes sold, 18.6 per cent fewer than in the previous month of October.

“Strong demand for housing in our community continues to exceed the ultra-low number of listings of homes available for sale,” said Victoria Real Estate Board President David Langlois. “This demand creates competition and pressure on pricing and we continue to see home values notch up. At this moment in time, there are fewer than 600 residential properties for sale in our market.”

Read the full report on VREB website!

 


 

The following data is a comparison between November 2020 and November 2021 numbers, and is current as of December 2021. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – November 2021 VREB, Victoria Market Report

 

 

 

 

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INFOGRAPHICS: October 2021 VREB Victoria Market Reports

Inventory pressures continue to constrain Victoria real estate market

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

Read the full report on VREB website!

 


 

The following data is a comparison between October 2020 and October 2021 numbers, and is current as of November 2021. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view!

 

Download Printable Version – October 2021 VREB, Victoria Market Report

 

 

 

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INFOGRAPHICS: September 2021 VREB Victoria Market Reports
INFOGRAPHICS: September 2021 VREB Victoria Market Reports

A greater commitment to development required to balance local housing market

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

Read the full report on VREB website!

 


 

The following data is a comparison between September 2020 and September 2021 numbers, and is current as of October 2021. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – September 2021 VREB, Victoria Market Report

 

 

 

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INFOGRAPHICS: August 2021 VREB Victoria Market Reports
INFOGRAPHICS: August 2021 VREB Victoria Market Reports

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

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

Read the full report on the VREB website!

 


 

The following data is a comparison between August 2020 and August 2021 numbers, and is current as of September 2021. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – August 2021 VREB, Victoria Market Report

 

 

 

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INFOGRAPHICS: July 2021 VREB Victoria Market Reports
INFOGRAPHICS: July 2021 VREB Victoria Market Reports

Victoria housing inventory continues to decline over summer months

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

“The real estate story right now continues to be inventory,” said Victoria Real Estate Board President David Langlois. “The market is driven by inventory; and fewer home listings lead to fewer home sales. In that context, these numbers do not reflect a downturn in our market but reveal sales falling due to this continued trend of low inventory.”

Read the full report on the VREB website!

 


 

The following data is a comparison between July 2020 and July 2021 numbers, and is current as of August 2021. Click here to check out last month’s figures!

You can also follow this link for all our Victoria Board monthly infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – July 2021 VREB, Victoria Market Report

 

 

 

 

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Doug Holloway
Office: 250-514-7015
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.