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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
June 1, 2021
Unwavering demand reinforces need to support supply of homes
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.
“Victoria is an amazing place to live and we will continue to see demand for property here,” said
Victoria Real Estate Board President David Langlois. “In the future we need to support the creation of
a housing market that can respond to demand and population growth and evolve with community
needs. Adding inventory to the Greater Victoria market should be the focus of every municipal council
across the region.”
There were 1,450 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at
the end of May 2021, 43 per cent fewer properties than the total available at the end of May 2020 and
just 4 properties fewer than the 1,454 active listings for sale at the end of April 2021.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the
Victoria Core in May 2020 was $855,900. The benchmark value for the same home in May 2021
increased by 17 per cent to $1,036,100, a 3.9 per cent increase from the previous month of April. The
MLS® HPI benchmark value for a condominium in the Victoria Core in May 2020 was $500,000, while
the benchmark value for the same condominium in May 2021 was $526,000, a 5.2 per cent increase.
“Recently the City of Victoria moved to fast-track non-profit developments, which is an exciting step in
the right direction,” added Langlois. “But continued attention needs to be paid on housing of all types.
By supporting an increase in urban density, we can ensure attainable housing, address missing
middle family housing, increase tax revenues for community amenities and protect green space by
slowing sprawl. If you are concerned about attainable housing and the future of homes in Greater
Victoria, consider supporting the next housing development proposal in your neighbourhood.”
About the Victoria Real Estate Board - Founded in 1921, the Victoria Real Estate Board is a key player in the development of
standards and innovative programs to enhance the professionalism of REALTORS®. The Victoria Real Estate Board
represents 1,422 local Realtors. If you are thinking about buying or selling a home, connect with your local Realtor for
detailed information on the Victoria and area housing market.
PRESIDENT
David Langlois
PRESIDENT ELECT
Karen Dinnie-Smyth
TREASURER
Patrick Novotny
PAST PRESIDENT
Sandi-Jo Ayers
DIRECTORS
Sheila Aujla
Robert Cole
Laurie Lidstone
Jackie Ngai
Graden Sol
EXECUTIVE OFFICER
David Corey
Sales by Property Type
Single Family Greater Victoria
Single Family Other Areas
Single Family Total All Areas
Condo Apartment
Row/Townhouse
Manufactured Home
Total Residential
Total Sales
Active Listings
Units Median$
Average$
LY%
LM% LY%
LM% LY%
LM% Units Median$
Average$ Units Median$
Average$
May 2021
516
325
126
14
1,002
537
1,049
21
1,450
543
331
135
23
1,053
564
1,116
21
1,454
214
108
61
13
436
254
457
40
2,544
$1,173,701
$536,068
$752,313
$308,918
$1,165,581
$966,052
$1,011,000
$478,000
$730,000
$307,000
$1,005,944
$920,000
$1,144,729
$534,021
$712,261
$319,900
$1,139,355
$1,000,395
$1,008,000
$489,000
$690,000
$335,000
$1,001,000
$917,500
$875,938
$453,060
$572,711
$203,877
$856,679
$753,645
$837,500
$390,000
$555,000
$199,900
$812,500
$622,000
-5.0%
-1.8%
-6.7%
-39.1%
-4.8%
-4.8%
-6.0%
0.0%
-0.3%
141.1%
200.9%
106.6%
7.7%
129.8%
111.4%
129.5%
-47.5%
-43.0%
2.5%
0.4%
5.6%
-3.4%
2.3%
-3.4%
34.0%
18.3%
31.4%
51.5%
36.1%
28.2%
0.3%
-2.2%
5.8%
-8.4%
0.5%
0.3%
20.7%
22.6%
31.5%
53.6%
23.8%
47.9%
April 2021 May 2020
Legend
Units: net number of listings sold
LM%: percentage change since Last Month
LY%: percentage change since This Month Last Year
Average$: average selling price
Median$: median selling price
Total Residential: includes sales of residential property types
Total Sales: includes sales of all property types
Active Listings: total listings of all types on the market at midnight on the last day of the month
This Month Last Month
Produced: 01-Jun-2021
May 2021
Previous Periods Comparison
This Month Last Year
Page 1 of 1
Victoria Real Estate Board Multiple Listing Service ®
May 2021
Statistics Package for Media
Victoria Real Estate Board May 2021 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
The ratio of counts of total residential sales over total active residential listings for the last 25 months Produced: 01-Jun-2021
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 May 2021 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 May 2021 Statistics
MLS® HPI benchmark and value - Condominium / Apartments
Victoria Real Estate Board May 2021 Statistics
Note:	Areas	with	insufficient	sales	are	not	included	in	the	HPI.
Source:	Victoria	Real	Estate	Board
May	2021 1	Month	Ago 3	Months	Ago 6	Months	Ago 12	Months	Ago 3	Years	Ago 5	Years	Ago January	2005
Victoria	REB	–	SF-All
Victoria	–	SF-All
Victoria	West	–	SF-All
Oak	Bay	–	SF-All
Esquimalt	–	SF-All
View	Royal	–	SF-All
Saanich	East	–	SF-All
Saanich	West	–	SF-All
Sooke	–	SF-All
Langford	–	SF-All
Metchosin	–	SF-All
Colwood	–	SF-All
Highlands	–	SF-All
North	Saanich	–	SF-All
Sidney	–	SF-All
Central	Saanich	–	SF-All
ML	Malahat	&	Area	–
SF-All
GI	Gulf	Islands	–	SF-All
$994,900
$986,300
$977,000
$976,700
$976,200
$975,700
$970,500
$968,100
$959,900
$959,600
$950,700
$943,600
$943,000
$922,800
$918,500
$916,600
$912,500
$904,200
$903,600
$902,900
$901,500
$873,400
$872,800
$872,800
$871,900
$870,300
$859,600
$853,600
$848,700
$846,900
$844,900
$840,600
$838,000
$836,800
$828,400
$827,400
$825,200
$821,200
$808,300
$799,500
$792,700
$792,400
$790,500
$790,300
$789,300
$782,600
$777,000
$770,400
$768,700
$767,900
$763,600
$757,600
$757,600
$756,800
$754,800
$753,000
$746,800
$744,100
$735,000
$733,600
$730,800
$730,500
$724,500
$721,600
$720,700
$715,400
$712,100
$711,800
$708,800
$706,500
$698,200
$687,600
$685,600
$685,200
$680,000
$675,500
$672,600
$666,700
$665,800
$652,300
$637,200
$635,500 $624,400
$612,400
$611,500
$609,700
$601,900
$594,100
$588,500
$572,800
$560,000
$556,700
$552,000
$551,600
$547,500
$522,800 $522,600
$518,900
$518,400
$517,200
$514,900
$493,000
$487,900
$474,300
$455,400
$442,600
$427,300
$394,500
$383,500
$370,800
$358,000
$357,400
$350,700
$349,200
$332,600
$329,100
$316,500
$308,000
$292,400
$284,200
$282,300
$271,500
$265,000
$1,422,900 $1,386,000 $1,311,400 $1,295,400
$1,241,300
$1,231,000
$1,229,800
$1,208,400 $1,181,300
$1,170,500
$1,135,700
$1,129,500
$1,066,100 $1,052,900
$1,052,600
$1,045,200
$1,038,300 $1,023,700
$1,019,500
$1,016,700
$1,004,600
Benchmark	Price	by	Timeframe	and	Property	Type
Value	or	percent	change
Value
Percent	change
HPI	or	Benchmark	Price
HPI
Benchmark	Price
1.	Area	Group
VREB	District	Summary
3.	Area/Property	Type	Selection
All
2.	Property	Type
Single	Family-All	(SF-All)
Note:	Areas	with	insufficient	sales	are	not	included	in	the	HPI.
Source:	Victoria	Real	Estate	Board
May	2021 1	Month	Ago 3	Months	Ago 6	Months	Ago 12	Months	Ago 3	Years	Ago 5	Years	Ago January	2005
Victoria	REB	–	SF-All
Victoria	–	SF-All
Victoria	West	–	SF-All
Oak	Bay	–	SF-All
Esquimalt	–	SF-All
View	Royal	–	SF-All
Saanich	East	–	SF-All
Saanich	West	–	SF-All
Sooke	–	SF-All
Langford	–	SF-All
Metchosin	–	SF-All
Colwood	–	SF-All
Highlands	–	SF-All
North	Saanich	–	SF-All
Sidney	–	SF-All
Central	Saanich	–	SF-All
ML	Malahat	&	Area	–
SF-All
GI	Gulf	Islands	–	SF-All
317.7 298.0
286.6
278.5
275.5
273.0
271.0
270.2
270.2
268.7
268.6
268.5
268.4
266.8
265.2
264.4
263.5
263.4
262.4
259.6
258.8
258.2
257.8
257.7
256.4
253.9
253.8
252.7
252.4
252.3
251.4
251.1
251.1
250.1
249.4
247.8
247.7
246.5
246.0
246.0
245.6
245.1
240.1
239.9
239.8
239.6
237.7
237.6
237.6
237.3
237.2
236.4
236.3
236.1
235.6
235.1
234.7
234.7
234.5
232.3
231.8
231.3
231.1
230.2
229.4
229.2
229.1
228.9
228.8
228.5
228.0
227.7
226.0
225.6
225.0
224.9
224.8
224.5
222.8
221.8
220.8
220.8
220.6
220.1
218.5
216.6
216.0
215.8
215.2
212.6
212.4
212.0
211.3
211.2
211.0
210.8
206.9
206.7
205.9
203.9
203.2
198.1
198.0
197.2
194.3
192.6 192.5
186.3
184.8
184.7
182.0
180.5
177.3
173.0
170.8
168.5
168.4
160.4
157.4
156.8
156.0
154.0
153.5
146.4
144.7
129.2 100.0
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
HPI	by	Timeframe	and	Property	Type
Value	or	percent	change
Value
Percent	change
HPI	or	Benchmark	Price
HPI
Benchmark	Price
1.	Area	Group
VREB	District	Summary
3.	Area/Property	Type	Selection
All
2.	Property	Type
Single	Family-All	(SF-All)
Note:	Areas	with	insufficient	sales	are	not	included	in	the	HPI.
Source:	Victoria	Real	Estate	Board
May	2021 1	Month	Ago 3	Months	Ago 6	Months	Ago 12	Months	Ago 3	Years	Ago 5	Years	Ago January	2005
Victoria	REB	–	Con
Victoria	–	Con
Victoria	West	–	Con
Oak	Bay	–	Con
Esquimalt	–	Con
View	Royal	–	Con
Saanich	East	–	Con
Saanich	West	–	Con
Sooke	–	Con
Langford	–	Con
Colwood	–	Con
North	Saanich	–	Con
Sidney	–	Con
Central	Saanich	–	Con
$706,600 $699,900
$688,200 $672,700 $671,600
$662,300
$649,100
$636,300 $631,800
$621,600
$616,000 $614,600
$612,900
$603,100 $585,600 $581,200
$557,800
$551,300
$524,100
$521,000
$516,600
$516,000
$513,500
$508,900
$507,800
$504,800
$494,000
$487,400 $487,000
$485,800
$481,600
$478,200
$477,900
$477,900
$474,400
$472,900
$470,800
$464,400
$464,200
$463,800
$461,600
$460,800 $458,600
$458,200
$456,200
$454,900
$451,100 $450,500
$450,000
$448,300
$446,100
$443,100
$441,800
$439,400
$436,100
$429,500
$427,400 $427,000
$426,800
$426,500 $422,700
$422,300
$421,500
$420,700
$417,500
$417,000
$416,200
$415,600
$414,800
$402,900
$402,400
$401,500
$398,600
$387,100
$383,900 $381,400
$379,500
$352,500 $350,600
$347,200
$347,200
$341,000
$339,600
$329,900
$323,600
$321,000
$316,800
$314,400
$311,300 $306,800 $295,800
$276,900
$274,300
$271,600
$271,200
$271,100
$266,900
$261,300
$238,700
$219,400
$205,900
$201,600
$200,600
$190,600
$188,800
$179,300
$160,600
$159,100
$155,000
$147,900
$129,900
$122,100
Benchmark	Price	by	Timeframe	and	Property	Type
Value	or	percent	change
Value
Percent	change
HPI	or	Benchmark	Price
HPI
Benchmark	Price
1.	Area	Group
VREB	District	Summary
3.	Area/Property	Type	Selection
All
2.	Property	Type
Condo	Apartment	(Con)
Note:	Areas	with	insufficient	sales	are	not	included	in	the	HPI.
Source:	Victoria	Real	Estate	Board
May	2021 1	Month	Ago 3	Months	Ago 6	Months	Ago 12	Months	Ago 3	Years	Ago 5	Years	Ago January	2005
Victoria	REB	–	Con
Victoria	–	Con
Victoria	West	–	Con
Oak	Bay	–	Con
Esquimalt	–	Con
View	Royal	–	Con
Saanich	East	–	Con
Saanich	West	–	Con
Sooke	–	Con
Langford	–	Con
Colwood	–	Con
North	Saanich	–	Con
Sidney	–	Con
Central	Saanich	–	Con
314.0 305.0 304.6
295.7
295.4 293.5
287.9
285.9
285.0
284.3
284.1
281.4
280.2
278.1
277.7
277.2
276.0
271.5
271.3
270.7
269.8
269.6
269.5
268.6 268.4
268.2
266.6
266.4
264.8
264.7
264.7
262.4
262.2
262.1
260.0
260.0
259.9
258.3
258.2
258.1
258.0
257.8
257.5
256.8
256.2
254.9
253.3
252.9
252.0 251.6
251.2
250.7
250.0
249.4
249.0
248.1
248.1
247.0
245.9
242.2
240.9
239.9
237.0
236.5
236.3
234.4
233.9
233.7
230.1
230.0
224.6
224.5
223.8 222.7
222.3
220.9
217.8
217.4
213.4
212.6
211.5
210.7
209.9 199.1
176.7
175.3
173.1
170.4
168.9
168.8
168.4
167.8
162.2
160.2
159.9
155.9
152.5
146.8
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
HPI	by	Timeframe	and	Property	Type
Value	or	percent	change
Value
Percent	change
HPI	or	Benchmark	Price
HPI
Benchmark	Price
1.	Area	Group
VREB	District	Summary
3.	Area/Property	Type	Selection
All
2.	Property	Type
Condo	Apartment	(Con)
Note:	Areas	with	insufficient	sales	are	not	included	in	the	HPI.
Source:	Victoria	Real	Estate	Board
May	2021 1	Month	Ago 3	Months	Ago 6	Months	Ago 12	Months	Ago 3	Years	Ago 5	Years	Ago January	2005
Victoria	REB	–	Twn
Victoria	–	Twn
Victoria	West	–	Twn
Esquimalt	–	Twn
View	Royal	–	Twn
Saanich	East	–	Twn
Saanich	West	–	Twn
Sooke	–	Twn
Langford	–	Twn
Colwood	–	Twn
Sidney	–	Twn
Central	Saanich	–	Twn
ML	Malahat	&	Area	–	Twn
GI	Gulf	Islands	–	Twn
$794,900
$789,500
$777,200
$768,300
$748,100 $741,700
$734,300
$733,600
$729,900 $725,400
$724,300
$723,700
$716,900
$716,000
$712,100
$710,400
$706,100
$699,500
$698,100
$695,800
$693,200
$689,900
$680,300
$670,200
$667,600
$663,300
$660,900
$653,600
$653,300
$652,400
$647,800
$645,700
$645,400
$645,300
$642,900
$642,300
$641,000
$633,400
$633,300
$631,300
$626,500
$623,900
$621,200
$606,700
$603,200
$600,600 $597,600
$596,400
$588,800
$578,000
$576,200
$574,900
$572,300
$571,400 $569,800
$567,100 $563,400
$562,000
$561,200
$553,900
$549,900
$548,600
$544,300
$538,600 $537,700
$537,000
$532,200
$528,500
$526,800
$519,000 $516,900
$516,300
$510,900
$508,500
$508,100
$501,800
$500,900
$496,600
$492,700
$486,000
$480,900
$474,500
$465,600
$460,300
$459,900
$444,300
$443,000
$437,300
$429,200
$422,400
$403,500
$393,200
$390,900
$380,900
$374,600
$371,600
$334,900
$333,800
$316,600
$303,000
$277,200
$269,500
$267,700
$266,100
$262,100
$260,600
$245,700
$241,900
$235,600
$229,000
$219,300
$204,100
Benchmark	Price	by	Timeframe	and	Property	Type
Value	or	percent	change
Value
Percent	change
HPI	or	Benchmark	Price
HPI
Benchmark	Price
1.	Area	Group
VREB	District	Summary
3.	Area/Property	Type	Selection
All
2.	Property	Type
Townhouse	(Twn)
Note:	Areas	with	insufficient	sales	are	not	included	in	the	HPI.
Source:	Victoria	Real	Estate	Board
May	2021 1	Month	Ago 3	Months	Ago 6	Months	Ago 12	Months	Ago 3	Years	Ago 5	Years	Ago January	2005
Victoria	REB	–	Twn
Victoria	–	Twn
Victoria	West	–	Twn
Esquimalt	–	Twn
View	Royal	–	Twn
Saanich	East	–	Twn
Saanich	West	–	Twn
Sooke	–	Twn
Langford	–	Twn
Colwood	–	Twn
Sidney	–	Twn
Central	Saanich	–	Twn
ML	Malahat	&	Area	–	Twn
GI	Gulf	Islands	–	Twn
340.9
338.0 327.1 309.3
296.7
294.4 293.1
291.9
288.5
276.6
274.3
273.2
272.6
272.5
271.9
269.9
269.7
267.6
267.6
266.7
261.8
261.4
261.3
259.6
256.5
252.8
251.1
250.7
250.3
250.1
247.6
244.0
242.7
242.1
240.4
240.4
239.3
237.9
236.6
236.3
233.0
232.9
229.0
228.8
228.6
228.5
228.4
226.6
225.9
225.7
225.3
224.4
223.6
222.9
222.0
221.8
221.8 220.6
220.5
219.2 218.8
218.0
217.6
217.4
216.8
216.2
215.7
215.7
215.2
214.9
213.0
209.9
209.3
203.3
201.4
200.8
198.6
195.4
194.0
193.4
192.0
191.1
188.6
188.0
186.6
173.5
170.8
166.8
163.1
162.3
162.1
160.4
160.3
160.0
146.9
146.2
141.8
141.7
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
HPI	by	Timeframe	and	Property	Type
Value	or	percent	change
Value
Percent	change
HPI	or	Benchmark	Price
HPI
Benchmark	Price
1.	Area	Group
VREB	District	Summary
3.	Area/Property	Type	Selection
All
2.	Property	Type
Townhouse	(Twn)
Note:	Areas	with	insufficient	sales	are	not	included	in	the	HPI.
Source:	Victoria	Real	Estate	Board
Victoria	REB	–	SF-All Core	–	SF-All Westshore	–	SF-All Peninsula	–	SF-All
Select	Date	Range:
All	values Jan	2006
Jan	2008
Jan	2010
Jan	2012
Jan	2014
Jan	2016
Jan	2018
Jan	2020
Jan	2022
Benchmark	Price	($)
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
Benchmark	Price	Performance	over	Time
1.	Area	Group
VREB	Area	Summary
3.	Area/Property	Type	Selection
Multiple	values
2.	Property	Type
Single	Family-All	(SF-All)
HPI	or	Benchmark	Price
HPI
Benchmark	Price
Adding	labels
Hold	Ctrl	(Cmd)	and	select	points	on	the	chart	to	show	multiple	date/value	labels
Note:	Areas	with	insufficient	sales	are	not	included	in	the	HPI.
Source:	Victoria	Real	Estate	Board
Victoria	REB	–	Con Core	–	Con Westshore	–	Con Peninsula	–	Con
Select	Date	Range:
All	values
Jan	2006
Jan	2008
Jan	2010
Jan	2012
Jan	2014
Jan	2016
Jan	2018
Jan	2020
Jan	2022
Benchmark	Price	($)
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
Benchmark	Price	Performance	over	Time
1.	Area	Group
VREB	Area	Summary
3.	Area/Property	Type	Selection
All
2.	Property	Type
Condo	Apartment	(Con)
HPI	or	Benchmark	Price
HPI
Benchmark	Price
Adding	labels
Hold	Ctrl	(Cmd)	and	select	points	on	the	chart	to	show	multiple	date/value	labels
Note:	Areas	with	insufficient	sales	are	not	included	in	the	HPI.
Source:	Victoria	Real	Estate	Board
Victoria	REB	–	Twn Core	–	Twn Westshore	–	Twn Peninsula	–	Twn
Select	Date	Range:
All	values Jan	2006
Jan	2008
Jan	2010
Jan	2012
Jan	2014
Jan	2016
Jan	2018
Jan	2020
Jan	2022
Benchmark	Price	($)
300,000
400,000
500,000
600,000
700,000
Benchmark	Price	Performance	over	Time
1.	Area	Group
VREB	Area	Summary
3.	Area/Property	Type	Selection
Multiple	values
2.	Property	Type
Townhouse	(Twn)
HPI	or	Benchmark	Price
HPI
Benchmark	Price
Adding	labels
Hold	Ctrl	(Cmd)	and	select	points	on	the	chart	to	show	multiple	date/value	labels
Note:	Areas	with	insufficient	sales	are	not	included	in	the	HPI.
Source:	Victoria	Real	Estate	Board
Victoria	REB	–	SF-All Victoria	REB	–	Twn Victoria	REB	–	Con
Select	Date	Range:
All	values Jan	2006
Jan	2008
Jan	2010
Jan	2012
Jan	2014
Jan	2016
Jan	2018
Jan	2020
Jan	2022
Benchmark	Price	($)
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
Benchmark	Price	Performance	over	Time
1.	Area	Group
VREB	Area	Summary
3.	Area/Property	Type	Selection
Multiple	values
2.	Property	Type
Multiple	values
HPI	or	Benchmark	Price
HPI
Benchmark	Price
Adding	labels
Hold	Ctrl	(Cmd)	and	select	points	on	the	chart	to	show	multiple	date/value	labels
Monthly Sales Summary (Mark I)
Residential Waterfront Properties Integrated Into Their Own Districts
Units Total Volume
May 2021
District
Produced: 01-Jun-2021
Residential
Single Family Detached
l
Greater Victoria
Victoria / Victoria West 50 $57,438,775
Oak Bay 31 $56,451,250
Esquimalt 14 $15,222,888
View Royal 13 $14,511,000
Saanich East 114 $146,647,265
Saanich West 38 $39,840,733
Central Saanich 13 $18,569,734
North Saanich 24 $37,893,500
Sidney 23 $23,210,150
Highlands 3 $2,877,500
Colwood 34 $33,401,898
Langford 80 $84,073,882
Metchosin 5 $6,870,000
Sooke 45 $39,936,385
Gulf Islands 29 $28,684,852
Total Greater Victoria 516 $605,629,812
Other Areas
Malahat & Area 21 $20,287,100
Total Other Areas 21 $20,287,100
Total Single Family Detached 537 $625,916,912
Condo Apartment
l
Greater Victoria
Victoria / Victoria West 151 $85,333,590
Oak Bay 6 $4,196,409
Esquimalt 9 $4,864,800
View Royal 12 $6,675,735
Saanich East 49 $23,663,600
Saanich West 17 $8,071,899
Central Saanich 4 $1,974,000
North Saanich 2 $1,371,400
Sidney 17 $10,450,600
Highlands 1 $70,000
Colwood 7 $3,945,800
Langford 42 $19,440,600
Sooke 8 $4,163,800
Total Greater Victoria 325 $174,222,233
Total Condo Apartment 325 $174,222,233
Page 1 of 3
Victoria Real Estate Board Multiple Listing Service ®
Monthly Sales Summary (Mark I)
Residential Waterfront Properties Integrated Into Their Own Districts
Units Total Volume
May 2021
District
Produced: 01-Jun-2021
Row/Townhouse
l
Greater Victoria
Victoria / Victoria West 24 $20,338,900
Oak Bay 1 $1,480,000
Esquimalt 2 $1,283,000
View Royal 7 $5,048,500
Saanich East 16 $14,972,203
Saanich West 8 $6,144,900
Central Saanich 10 $7,424,400
Sidney 9 $6,304,000
Colwood 8 $5,739,485
Langford 28 $19,033,499
Sooke 8 $4,362,600
Gulf Islands 5 $2,660,000
Total Greater Victoria 126 $94,791,487
Total Row/Townhouse 126 $94,791,487
Manufactured Home
l
Greater Victoria
Victoria / Victoria West 1 $740,000
View Royal 2 $717,400
Central Saanich 4 $1,107,455
Sidney 1 $490,000
Langford 3 $544,000
Sooke 1 $315,000
Total Greater Victoria 12 $3,913,855
Other Areas
Malahat & Area 2 $411,000
Total Other Areas 2 $411,000
Total Manufactured Home 14 $4,324,855
Total Residential 1002 $899,255,487
Page 2 of 3
Victoria Real Estate Board Multiple Listing Service ®
Monthly Sales Summary (Mark I)
Residential Waterfront Properties Integrated Into Their Own Districts
Units Total Volume
May 2021
District
Produced: 01-Jun-2021
$936,036,346
1049
Grand Totals
Other Property
Lots & Acreage
l
Greater Victoria
Saanich East 3 $3,443,500
Saanich West 1 $721,687
Central Saanich 1 $3,380,000
North Saanich 1 $687,500
Langford 8 $4,836,800
Sooke 4 $2,969,400
Gulf Islands 10 $4,710,900
Total Greater Victoria 28 $20,749,787
Other Areas
Malahat & Area 2 $1,135,000
Total Other Areas 2 $1,135,000
Total Lots & Acreage 30 $21,884,787
17 $14,896,072
Other Commercial Properties
l
Page 3 of 3
Victoria Real Estate Board Multiple Listing Service ®
Monthly Sales Summary (Mark II)
Waterfront Properties Segregated Into a 'Waterfront' District
Units Total Volume
May 2021
District
Produced: 01-Jun-2021
Residential
Single Family Detached
l
Greater Victoria
Victoria 46 $53,723,775
Victoria West 4 $3,715,000
Oak Bay 30 $52,751,250
Esquimalt 14 $15,222,888
View Royal 11 $11,776,000
Saanich East 112 $139,297,265
Saanich West 36 $37,175,733
Central Saanich 11 $13,839,734
North Saanich 22 $31,192,000
Sidney 21 $18,836,150
Highlands 3 $2,877,500
Colwood 34 $33,401,898
Langford 78 $81,638,882
Metchosin 3 $3,260,000
Sooke 41 $36,792,385
Gulf Islands 22 $22,386,852
Waterfront (all districts) 28 $47,742,500
Total Greater Victoria 516 $605,629,812
Other Areas
Malahat & Area 18 $17,559,700
Waterfront (all districts) 3 $2,727,400
Total Other Areas 21 $20,287,100
Total Single Family Detached 537 $625,916,912
Condo Apartment
l
Greater Victoria
Victoria 131 $68,828,368
Victoria West 15 $13,065,422
Oak Bay 6 $4,196,409
Esquimalt 8 $3,539,800
View Royal 12 $6,675,735
Saanich East 48 $22,803,600
Saanich West 17 $8,071,899
Central Saanich 3 $1,399,000
North Saanich 2 $1,371,400
Sidney 17 $10,450,600
Highlands 1 $70,000
Colwood 6 $3,030,800
Langford 42 $19,440,600
Sooke 3 $1,299,900
Waterfront (all districts) 14 $9,978,700
Total Greater Victoria 325 $174,222,233
Total Condo Apartment 325 $174,222,233
Page 1 of 3
Victoria Real Estate Board Multiple Listing Service ®
Monthly Sales Summary (Mark II)
Waterfront Properties Segregated Into a 'Waterfront' District
Units Total Volume
May 2021
District
Produced: 01-Jun-2021
Row/Townhouse
l
Greater Victoria
Victoria 19 $16,163,000
Victoria West 4 $2,825,900
Oak Bay 1 $1,480,000
Esquimalt 2 $1,283,000
View Royal 7 $5,048,500
Saanich East 15 $13,340,203
Saanich West 8 $6,144,900
Central Saanich 9 $6,274,400
Sidney 8 $5,229,000
Colwood 8 $5,739,485
Langford 28 $19,033,499
Sooke 7 $3,982,300
Gulf Islands 4 $2,123,100
Waterfront (all districts) 6 $6,124,200
Total Greater Victoria 126 $94,791,487
Total Row/Townhouse 126 $94,791,487
Manufactured Home
l
Greater Victoria
Victoria 1 $740,000
View Royal 2 $717,400
Central Saanich 4 $1,107,455
Sidney 1 $490,000
Langford 3 $544,000
Sooke 1 $315,000
Total Greater Victoria 12 $3,913,855
Other Areas
Malahat & Area 2 $411,000
Total Other Areas 2 $411,000
Total Manufactured Home 14 $4,324,855
Total Residential 1002 $899,255,487
Page 2 of 3
Victoria Real Estate Board Multiple Listing Service ®
Monthly Sales Summary (Mark II)
Waterfront Properties Segregated Into a 'Waterfront' District
Units Total Volume
May 2021
District
Produced: 01-Jun-2021
$936,036,346
1049
Grand Totals
Other Property
Lots & Acreage
l
Greater Victoria
Saanich East 3 $3,443,500
Saanich West 1 $721,687
Central Saanich 1 $3,380,000
North Saanich 1 $687,500
Langford 8 $4,836,800
Sooke 4 $2,969,400
Gulf Islands 10 $4,710,900
Total Greater Victoria 28 $20,749,787
Other Areas
Malahat & Area 2 $1,135,000
Total Other Areas 2 $1,135,000
Total Lots & Acreage 30 $21,884,787
17 $14,896,072
Other Commercial Properties
l
Page 3 of 3
Victoria Real Estate Board Multiple Listing Service ®
Sales to Active Listings Ratio
The ratio of counts of total residential sales over total active residential listings for the last 25 months
May 2021
Produced: 01-Jun-2021
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
110%
120%
May
2019
Jun
2019
Jul
2019
Aug
2019
Sep
2019
Oct
2019
Nov
2019
Dec
2019
Jan
2020
Feb
2020
Mar
2020
Apr
2020
May
2020
Jun
2020
Jul
2020
Aug
2020
Sep
2020
Oct
2020
Nov
2020
Dec
2020
Jan
2021
Feb
2021
Mar
2021
Apr
2021
May
2021
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)
Victoria Real Estate Board Multiple Listing Service ® Page 1 of 1
Monthly Comparative Activity By Property Type
Includes All MLS® Property Types
May 2021
Current Month
This Year % Change
Last Year
Year To Date
This Year % Change
Last Year
Produced: 01-Jun-2021
Single Family - Residential
Units Listed 513
Units Sold 420
Sell/List Ratio 82
Sales Dollars $473,203,902
Average Price / Unit $1,126,676
Price Ratio 103
Days To Sell 14
Active Listings at Month End 358
%
%
426
214
50
$174,658,334
$816,160
98
38
739
%
%
20
96
171
38
-63
-52
%
%
%
%
%
%
2329
1874
80
$2,093,180,287
$1,116,959
104
19
%
%
1779
997
56
$849,635,022
$852,192
98
40
%
%
31
88
146
31
-53
%
%
%
%
%
Single Family - Residential Waterfront
Units Listed 44
Units Sold 27
Sell/List Ratio 61
Sales Dollars $47,411,900
Average Price / Unit $1,755,996
Price Ratio 99
Days To Sell 18
Active Listings at Month End 66
%
%
38
11
29
$15,771,500
$1,433,773
94
132
146
%
%
16
145
201
22
-86
-55
%
%
%
%
%
%
176
116
66
$226,365,487
$1,951,427
99
52
%
%
171
60
35
$96,639,763
$1,610,663
94
109
%
%
3
93
134
21
-53
%
%
%
%
%
Single Family - Residential Acreage
Units Listed 59
Units Sold 39
Sell/List Ratio 66
Sales Dollars $60,174,000
Average Price / Unit $1,542,923
Price Ratio 99
Days To Sell 37
Active Listings at Month End 66
%
%
56
19
34
$19,346,788
$1,018,252
99
61
122
%
%
5
105
211
52
-39
-46
%
%
%
%
%
%
225
178
79
$274,861,385
$1,544,165
100
49
%
%
185
89
48
$94,564,349
$1,062,521
96
80
%
%
22
100
191
45
-39
%
%
%
%
%
Condo Apartment
Units Listed 432
Units Sold 325
Sell/List Ratio 75
Sales Dollars $174,222,233
Average Price / Unit $536,068
Price Ratio 100
Days To Sell 22
Active Listings at Month End 462
%
%
337
108
32
$48,930,485
$453,060
98
36
686
%
%
28
201
256
18
-37
-33
%
%
%
%
%
%
1987
1539
77
$823,186,837
$534,884
100
28
%
%
1473
652
44
$313,533,610
$480,880
98
37
%
%
35
136
163
11
-23
%
%
%
%
%
Page 1 of 8
Victoria Real Estate Board Multiple Listing Service ®
Monthly Comparative Activity By Property Type
Includes All MLS® Property Types
May 2021
Current Month
This Year % Change
Last Year
Year To Date
This Year % Change
Last Year
Produced: 01-Jun-2021
Row/Townhouse
Units Listed 123
Units Sold 126
Sell/List Ratio 102
Sales Dollars $94,791,487
Average Price / Unit $752,313
Price Ratio 103
Days To Sell 18
Active Listings at Month End 87
%
%
98
61
62
$34,935,350
$572,711
98
56
214
%
%
26
107
171
31
-68
-59
%
%
%
%
%
%
659
568
86
$398,391,402
$701,393
103
25
%
%
507
299
59
$177,468,229
$593,539
99
48
%
%
30
90
124
18
-48
%
%
%
%
%
Half Duplex (Up and Down)
Units Listed 3
Units Sold 1
Sell/List Ratio 33
Sales Dollars $2,300,000
Average Price / Unit $2,300,000
Price Ratio 118
Days To Sell 7
Active Listings at Month End 4
%
%
0
0
$0
1
%
%
300
%
%
%
%
%
%
11
6
55
$7,858,900
$1,309,817
105
15
%
%
3
2
67
$691,000
$345,500
95
172
%
%
267
200
1037
279
-91
%
%
%
%
%
Half Duplex (Side by Side)
Units Listed 33
Units Sold 34
Sell/List Ratio 103
Sales Dollars $28,746,485
Average Price / Unit $845,485
Price Ratio 103
Days To Sell 19
Active Listings at Month End 25
%
%
7
7
100
$5,509,400
$787,057
97
36
15
%
%
371
386
422
7
-47
67
%
%
%
%
%
%
157
131
83
$102,600,815
$783,212
104
22
%
%
43
23
53
$15,669,400
$681,278
98
31
%
%
265
470
555
15
-28
%
%
%
%
%
Half Duplex (Front and Back)
Units Listed 4
Units Sold 2
Sell/List Ratio 50
Sales Dollars $1,805,000
Average Price / Unit $902,500
Price Ratio 107
Days To Sell 2
Active Listings at Month End 5
%
%
2
0
0
$0
3
%
%
100
67
%
%
%
%
%
%
22
13
59
$10,767,350
$828,258
104
15
%
%
6
4
67
$2,525,400
$631,350
99
42
%
%
267
225
326
31
-64
%
%
%
%
%
Page 2 of 8
Victoria Real Estate Board Multiple Listing Service ®
Monthly Comparative Activity By Property Type
Includes All MLS® Property Types
May 2021
Current Month
This Year % Change
Last Year
Year To Date
This Year % Change
Last Year
Produced: 01-Jun-2021
Recreational
Units Listed 2
Units Sold 4
Sell/List Ratio 200
Sales Dollars $566,000
Average Price / Unit $141,500
Price Ratio 94
Days To Sell 168
Active Listings at Month End 6
%
%
3
1
33
$177,500
$177,500
91
247
15
%
%
-33
300
219
-20
-32
-60
%
%
%
%
%
%
11
12
109
$1,718,000
$143,167
96
359
%
%
11
3
27
$276,000
$92,000
91
250
%
%
0
300
522
56
44
%
%
%
%
%
Manufactured Home
Units Listed 23
Units Sold 14
Sell/List Ratio 61
Sales Dollars $4,324,855
Average Price / Unit $308,918
Price Ratio 104
Days To Sell 21
Active Listings at Month End 28
%
%
21
13
62
$2,650,400
$203,877
97
48
38
%
%
10
8
63
52
-55
-26
%
%
%
%
%
%
106
83
78
$31,668,256
$381,545
100
38
%
%
81
55
68
$10,681,625
$194,211
96
61
%
%
31
51
196
96
-39
%
%
%
%
%
Residential Lots
Units Listed 28
Units Sold 15
Sell/List Ratio 54
Sales Dollars $8,848,887
Average Price / Unit $589,926
Price Ratio 100
Days To Sell 40
Active Listings at Month End 56
%
%
30
6
20
$2,303,900
$383,983
98
60
134
%
%
-7
150
284
54
-34
-58
%
%
%
%
%
%
135
119
88
$56,754,182
$476,926
99
96
%
%
127
48
38
$23,289,274
$485,193
100
140
%
%
6
148
144
-2
-32
%
%
%
%
%
Residential Lots - Waterfront
Units Listed 4
Units Sold 2
Sell/List Ratio 50
Sales Dollars $1,565,000
Average Price / Unit $782,500
Price Ratio 98
Days To Sell 23
Active Listings at Month End 6
%
%
7
2
29
$590,000
$295,000
91
248
34
%
%
-43
0
165
165
-91
-82
%
%
%
%
%
%
19
25
132
$14,984,695
$599,388
97
209
%
%
30
5
17
$2,433,125
$486,625
90
311
%
%
-37
400
516
23
-33
%
%
%
%
%
Page 3 of 8
Victoria Real Estate Board Multiple Listing Service ®
Monthly Comparative Activity By Property Type
Includes All MLS® Property Types
May 2021
Current Month
This Year % Change
Last Year
Year To Date
This Year % Change
Last Year
Produced: 01-Jun-2021
Residential Acreage
Units Listed 16
Units Sold 9
Sell/List Ratio 56
Sales Dollars $4,721,900
Average Price / Unit $524,656
Price Ratio 99
Days To Sell 109
Active Listings at Month End 33
%
%
11
8
73
$3,731,000
$466,375
95
85
73
%
%
45
13
27
12
28
-55
%
%
%
%
%
%
58
50
86
$32,545,580
$650,912
98
115
%
%
63
28
44
$17,545,500
$626,625
93
114
%
%
-8
79
85
4
1
%
%
%
%
%
Residential Acreage - Waterfront
Units Listed 3
Units Sold 4
Sell/List Ratio 133
Sales Dollars $6,749,000
Average Price / Unit $1,687,250
Price Ratio 87
Days To Sell 118
Active Listings at Month End 9
%
%
6
0
0
$0
31
%
%
-50
-71
%
%
%
%
%
%
17
21
124
$19,694,000
$937,810
92
206
%
%
20
7
35
$5,959,082
$851,297
88
105
%
%
-15
200
230
10
97
%
%
%
%
%
Revenue - Duplex/Triplex
Units Listed 3
Units Sold 10
Sell/List Ratio 333
Sales Dollars $11,709,625
Average Price / Unit $1,170,963
Price Ratio 101
Days To Sell 27
Active Listings at Month End 6
%
%
5
2
40
$2,133,000
$1,066,500
95
78
7
%
%
-40
400
449
10
-65
-14
%
%
%
%
%
%
50
32
64
$37,178,296
$1,161,822
102
19
%
%
23
15
65
$14,858,950
$990,597
97
41
%
%
117
113
150
17
-55
%
%
%
%
%
Revenue - Multi Units
Units Listed 4
Units Sold 4
Sell/List Ratio 100
Sales Dollars $7,388,000
Average Price / Unit $1,847,000
Price Ratio 95
Days To Sell 57
Active Listings at Month End 17
%
%
3
0
0
$0
7
%
%
33
143
%
%
%
%
%
%
31
19
61
$44,282,500
$2,330,658
96
74
%
%
12
1
8
$1,750,000
$1,750,000
88
30
%
%
158
1800
2430
33
146
%
%
%
%
%
Page 4 of 8
Victoria Real Estate Board Multiple Listing Service ®
Monthly Comparative Activity By Property Type
Includes All MLS® Property Types
May 2021
Current Month
This Year % Change
Last Year
Year To Date
This Year % Change
Last Year
Produced: 01-Jun-2021
Revenue - Apartment Block
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
%
%
1
2
200
$2,898,900
$1,449,450
89
136
4
%
%
-100
-100
-100
-100
%
%
%
%
%
%
0
0
$0
%
%
6
3
50
$8,498,900
$2,832,967
93
128
%
%
-100
-100
-100
%
%
%
%
%
Revenue - Commercial
Units Listed 8
Units Sold 5
Sell/List Ratio 63
Sales Dollars $5,471,040
Average Price / Unit $1,094,208
Price Ratio 98
Days To Sell 43
Active Listings at Month End 37
%
%
6
1
17
$685,000
$685,000
98
51
40
%
%
33
400
699
60
-15
-8
%
%
%
%
%
%
39
15
38
$19,243,796
$1,282,920
99
101
%
%
30
8
27
$7,015,900
$876,988
96
92
%
%
30
88
174
46
10
%
%
%
%
%
Revenue - Industrial
Units Listed 1
Units Sold 1
Sell/List Ratio 100
Sales Dollars $576,450
Average Price / Unit $576,450
Price Ratio 105
Days To Sell 38
Active Listings at Month End 7
%
%
0
0
$0
1
%
%
600
%
%
%
%
%
%
11
8
73
$10,673,118
$1,334,140
98
46
%
%
1
0
0
$0
%
%
1000 %
%
%
%
%
Business with Land & Building
Units Listed 2
Units Sold 1
Sell/List Ratio 50
Sales Dollars $1,337,500
Average Price / Unit $1,337,500
Price Ratio 89
Days To Sell 147
Active Listings at Month End 4
%
%
4
0
0
$0
38
%
%
-50
-89
%
%
%
%
%
%
5
1
20
$1,337,500
$1,337,500
89
147
%
%
36
9
25
$20,352,973
$2,261,441
90
177
%
%
-86
-89
-93
-41
-17
%
%
%
%
%
Page 5 of 8
Victoria Real Estate Board Multiple Listing Service ®
Monthly Comparative Activity By Property Type
Includes All MLS® Property Types
May 2021
Current Month
This Year % Change
Last Year
Year To Date
This Year % Change
Last Year
Produced: 01-Jun-2021
Business Only
Units Listed 6
Units Sold 1
Sell/List Ratio 17
Sales Dollars $123,000
Average Price / Unit $123,000
Price Ratio 95
Days To Sell 199
Active Listings at Month End 38
%
%
6
0
0
-$165,500
99
88
57
%
%
0
-174
126
-33
%
%
%
%
%
%
37
7
19
$1,514,500
$216,357
89
158
%
%
54
10
19
$930,500
$93,050
87
114
%
%
-31
-30
63
133
39
%
%
%
%
%
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 0
%
%
0
0
$0
4
%
%
-100
%
%
%
%
%
%
0
0
$0
%
%
2
0
0
$0
%
%
-100 %
%
%
%
%
Lease - Office
Units Listed 8
Units Sold 4
Sell/List Ratio 50
Sales Dollars $66
Average Price / Unit $16
Price Ratio 97
Days To Sell 118
Active Listings at Month End 66
%
%
3
0
0
$0
35
%
%
167
89
%
%
%
%
%
%
52
12
23
$1,955
$163
96
125
%
%
27
2
7
$40
$20
402
%
%
93
500
4787
715
-69
%
%
%
%
%
Lease - Retail
Units Listed 8
Units Sold 1
Sell/List Ratio 13
Sales Dollars $16
Average Price / Unit $16
Price Ratio 98
Days To Sell 124
Active Listings at Month End 42
%
%
8
1
13
$1,650
$1,650
103
165
27
%
%
0
0
-99
-99
-25
56
%
%
%
%
%
%
37
13
35
$8,541
$657
92
117
%
%
22
5
23
$1,709
$342
110
266
%
%
68
160
400
92
-56
%
%
%
%
%
Page 6 of 8
Victoria Real Estate Board Multiple Listing Service ®
Monthly Comparative Activity By Property Type
Includes All MLS® Property Types
May 2021
Current Month
This Year % Change
Last Year
Year To Date
This Year % Change
Last Year
Produced: 01-Jun-2021
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
%
%
1
0
0
$0
1
%
%
-100
-100
%
%
%
%
%
%
0
0
$0
%
%
1
0
0
$0
%
%
-100 %
%
%
%
%
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 7
%
%
0
0
$0
0
%
%
%
%
%
%
%
%
8
0
0
$0
%
%
0
0
$0
%
%
%
%
%
%
%
Lease - Other
Units Listed 1
Units Sold 0
Sell/List Ratio
Sales Dollars $0
Average Price / Unit
Price Ratio
Days To Sell
Active Listings at Month End 3
%
%
7
1
14
$15
$15
34
49
%
%
-86
-100
-100
-94
%
%
%
%
%
%
2
1
50
$2,890,580
$2,890,580
19270533
169
%
%
41
1
2
$15
$15
34
%
%
-95
0
########
########
397
%
%
%
%
%
Commercial Land
Units Listed 5
Units Sold 0
Sell/List Ratio
Sales Dollars $0
Average Price / Unit
Price Ratio
Days To Sell
Active Listings at Month End 12
%
%
9
0
0
$0
23
%
%
-44
-48
%
%
%
%
%
%
10
4
40
$10,812,500
$2,703,125
96
325
%
%
20
0
0
$0
%
%
-50 %
%
%
%
%
Page 7 of 8
Victoria Real Estate Board Multiple Listing Service ®
Monthly Comparative Activity By Property Type
Includes All MLS® Property Types
May 2021
Current Month
This Year % Change
Last Year
Year To Date
This Year % Change
Last Year
Produced: 01-Jun-2021
Units Listed 1333
Units Sold 1049
Sell/List Ratio 79
Sales Dollars $936,036,346
Average Price / Unit $892,313
Price Ratio 102
Days To Sell 22
Active Listings at Month End 1450
%
%
Grand Totals
1095
457
42
$314,157,722
$687,435
98
47
2544
%
%
22
130
198
30
-54
-43
%
%
%
%
%
%
6194
4847
78
$4,222,520,462
$871,162
102
32
%
%
4774
2326
49
$1,664,320,365
$715,529
98
50
%
%
30
108
154
22
-36
%
%
%
%
%
Page 8 of 8
Victoria Real Estate Board Multiple Listing Service ®

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Victoria Real Estate Board April 2021 Statistics

  • 1. 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 June 1, 2021 Unwavering demand reinforces need to support supply of homes 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. “Victoria is an amazing place to live and we will continue to see demand for property here,” said Victoria Real Estate Board President David Langlois. “In the future we need to support the creation of a housing market that can respond to demand and population growth and evolve with community needs. Adding inventory to the Greater Victoria market should be the focus of every municipal council across the region.” There were 1,450 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of May 2021, 43 per cent fewer properties than the total available at the end of May 2020 and just 4 properties fewer than the 1,454 active listings for sale at the end of April 2021. The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in May 2020 was $855,900. The benchmark value for the same home in May 2021 increased by 17 per cent to $1,036,100, a 3.9 per cent increase from the previous month of April. The MLS® HPI benchmark value for a condominium in the Victoria Core in May 2020 was $500,000, while the benchmark value for the same condominium in May 2021 was $526,000, a 5.2 per cent increase. “Recently the City of Victoria moved to fast-track non-profit developments, which is an exciting step in the right direction,” added Langlois. “But continued attention needs to be paid on housing of all types. By supporting an increase in urban density, we can ensure attainable housing, address missing middle family housing, increase tax revenues for community amenities and protect green space by slowing sprawl. If you are concerned about attainable housing and the future of homes in Greater Victoria, consider supporting the next housing development proposal in your neighbourhood.” About the Victoria Real Estate Board - Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards and innovative programs to enhance the professionalism of REALTORS®. The Victoria Real Estate Board represents 1,422 local Realtors. If you are thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing market. PRESIDENT David Langlois PRESIDENT ELECT Karen Dinnie-Smyth TREASURER Patrick Novotny PAST PRESIDENT Sandi-Jo Ayers DIRECTORS Sheila Aujla Robert Cole Laurie Lidstone Jackie Ngai Graden Sol EXECUTIVE OFFICER David Corey
  • 2. Sales by Property Type Single Family Greater Victoria Single Family Other Areas Single Family Total All Areas Condo Apartment Row/Townhouse Manufactured Home Total Residential Total Sales Active Listings Units Median$ Average$ LY% LM% LY% LM% LY% LM% Units Median$ Average$ Units Median$ Average$ May 2021 516 325 126 14 1,002 537 1,049 21 1,450 543 331 135 23 1,053 564 1,116 21 1,454 214 108 61 13 436 254 457 40 2,544 $1,173,701 $536,068 $752,313 $308,918 $1,165,581 $966,052 $1,011,000 $478,000 $730,000 $307,000 $1,005,944 $920,000 $1,144,729 $534,021 $712,261 $319,900 $1,139,355 $1,000,395 $1,008,000 $489,000 $690,000 $335,000 $1,001,000 $917,500 $875,938 $453,060 $572,711 $203,877 $856,679 $753,645 $837,500 $390,000 $555,000 $199,900 $812,500 $622,000 -5.0% -1.8% -6.7% -39.1% -4.8% -4.8% -6.0% 0.0% -0.3% 141.1% 200.9% 106.6% 7.7% 129.8% 111.4% 129.5% -47.5% -43.0% 2.5% 0.4% 5.6% -3.4% 2.3% -3.4% 34.0% 18.3% 31.4% 51.5% 36.1% 28.2% 0.3% -2.2% 5.8% -8.4% 0.5% 0.3% 20.7% 22.6% 31.5% 53.6% 23.8% 47.9% April 2021 May 2020 Legend Units: net number of listings sold LM%: percentage change since Last Month LY%: percentage change since This Month Last Year Average$: average selling price Median$: median selling price Total Residential: includes sales of residential property types Total Sales: includes sales of all property types Active Listings: total listings of all types on the market at midnight on the last day of the month This Month Last Month Produced: 01-Jun-2021 May 2021 Previous Periods Comparison This Month Last Year Page 1 of 1 Victoria Real Estate Board Multiple Listing Service ® May 2021 Statistics Package for Media Victoria Real Estate Board May 2021 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
  • 3. The ratio of counts of total residential sales over total active residential listings for the last 25 months Produced: 01-Jun-2021 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 May 2021 Statistics Total new MLS® listings and total MLS® sales for entire district
  • 4. 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 May 2021 Statistics
  • 5. MLS® HPI benchmark and value - Condominium / Apartments Victoria Real Estate Board May 2021 Statistics
  • 6. Note: Areas with insufficient sales are not included in the HPI. Source: Victoria Real Estate Board May 2021 1 Month Ago 3 Months Ago 6 Months Ago 12 Months Ago 3 Years Ago 5 Years Ago January 2005 Victoria REB – SF-All Victoria – SF-All Victoria West – SF-All Oak Bay – SF-All Esquimalt – SF-All View Royal – SF-All Saanich East – SF-All Saanich West – SF-All Sooke – SF-All Langford – SF-All Metchosin – SF-All Colwood – SF-All Highlands – SF-All North Saanich – SF-All Sidney – SF-All Central Saanich – SF-All ML Malahat & Area – SF-All GI Gulf Islands – SF-All $994,900 $986,300 $977,000 $976,700 $976,200 $975,700 $970,500 $968,100 $959,900 $959,600 $950,700 $943,600 $943,000 $922,800 $918,500 $916,600 $912,500 $904,200 $903,600 $902,900 $901,500 $873,400 $872,800 $872,800 $871,900 $870,300 $859,600 $853,600 $848,700 $846,900 $844,900 $840,600 $838,000 $836,800 $828,400 $827,400 $825,200 $821,200 $808,300 $799,500 $792,700 $792,400 $790,500 $790,300 $789,300 $782,600 $777,000 $770,400 $768,700 $767,900 $763,600 $757,600 $757,600 $756,800 $754,800 $753,000 $746,800 $744,100 $735,000 $733,600 $730,800 $730,500 $724,500 $721,600 $720,700 $715,400 $712,100 $711,800 $708,800 $706,500 $698,200 $687,600 $685,600 $685,200 $680,000 $675,500 $672,600 $666,700 $665,800 $652,300 $637,200 $635,500 $624,400 $612,400 $611,500 $609,700 $601,900 $594,100 $588,500 $572,800 $560,000 $556,700 $552,000 $551,600 $547,500 $522,800 $522,600 $518,900 $518,400 $517,200 $514,900 $493,000 $487,900 $474,300 $455,400 $442,600 $427,300 $394,500 $383,500 $370,800 $358,000 $357,400 $350,700 $349,200 $332,600 $329,100 $316,500 $308,000 $292,400 $284,200 $282,300 $271,500 $265,000 $1,422,900 $1,386,000 $1,311,400 $1,295,400 $1,241,300 $1,231,000 $1,229,800 $1,208,400 $1,181,300 $1,170,500 $1,135,700 $1,129,500 $1,066,100 $1,052,900 $1,052,600 $1,045,200 $1,038,300 $1,023,700 $1,019,500 $1,016,700 $1,004,600 Benchmark Price by Timeframe and Property Type Value or percent change Value Percent change HPI or Benchmark Price HPI Benchmark Price 1. Area Group VREB District Summary 3. Area/Property Type Selection All 2. Property Type Single Family-All (SF-All)
  • 7. Note: Areas with insufficient sales are not included in the HPI. Source: Victoria Real Estate Board May 2021 1 Month Ago 3 Months Ago 6 Months Ago 12 Months Ago 3 Years Ago 5 Years Ago January 2005 Victoria REB – SF-All Victoria – SF-All Victoria West – SF-All Oak Bay – SF-All Esquimalt – SF-All View Royal – SF-All Saanich East – SF-All Saanich West – SF-All Sooke – SF-All Langford – SF-All Metchosin – SF-All Colwood – SF-All Highlands – SF-All North Saanich – SF-All Sidney – SF-All Central Saanich – SF-All ML Malahat & Area – SF-All GI Gulf Islands – SF-All 317.7 298.0 286.6 278.5 275.5 273.0 271.0 270.2 270.2 268.7 268.6 268.5 268.4 266.8 265.2 264.4 263.5 263.4 262.4 259.6 258.8 258.2 257.8 257.7 256.4 253.9 253.8 252.7 252.4 252.3 251.4 251.1 251.1 250.1 249.4 247.8 247.7 246.5 246.0 246.0 245.6 245.1 240.1 239.9 239.8 239.6 237.7 237.6 237.6 237.3 237.2 236.4 236.3 236.1 235.6 235.1 234.7 234.7 234.5 232.3 231.8 231.3 231.1 230.2 229.4 229.2 229.1 228.9 228.8 228.5 228.0 227.7 226.0 225.6 225.0 224.9 224.8 224.5 222.8 221.8 220.8 220.8 220.6 220.1 218.5 216.6 216.0 215.8 215.2 212.6 212.4 212.0 211.3 211.2 211.0 210.8 206.9 206.7 205.9 203.9 203.2 198.1 198.0 197.2 194.3 192.6 192.5 186.3 184.8 184.7 182.0 180.5 177.3 173.0 170.8 168.5 168.4 160.4 157.4 156.8 156.0 154.0 153.5 146.4 144.7 129.2 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 HPI by Timeframe and Property Type Value or percent change Value Percent change HPI or Benchmark Price HPI Benchmark Price 1. Area Group VREB District Summary 3. Area/Property Type Selection All 2. Property Type Single Family-All (SF-All)
  • 8. Note: Areas with insufficient sales are not included in the HPI. Source: Victoria Real Estate Board May 2021 1 Month Ago 3 Months Ago 6 Months Ago 12 Months Ago 3 Years Ago 5 Years Ago January 2005 Victoria REB – Con Victoria – Con Victoria West – Con Oak Bay – Con Esquimalt – Con View Royal – Con Saanich East – Con Saanich West – Con Sooke – Con Langford – Con Colwood – Con North Saanich – Con Sidney – Con Central Saanich – Con $706,600 $699,900 $688,200 $672,700 $671,600 $662,300 $649,100 $636,300 $631,800 $621,600 $616,000 $614,600 $612,900 $603,100 $585,600 $581,200 $557,800 $551,300 $524,100 $521,000 $516,600 $516,000 $513,500 $508,900 $507,800 $504,800 $494,000 $487,400 $487,000 $485,800 $481,600 $478,200 $477,900 $477,900 $474,400 $472,900 $470,800 $464,400 $464,200 $463,800 $461,600 $460,800 $458,600 $458,200 $456,200 $454,900 $451,100 $450,500 $450,000 $448,300 $446,100 $443,100 $441,800 $439,400 $436,100 $429,500 $427,400 $427,000 $426,800 $426,500 $422,700 $422,300 $421,500 $420,700 $417,500 $417,000 $416,200 $415,600 $414,800 $402,900 $402,400 $401,500 $398,600 $387,100 $383,900 $381,400 $379,500 $352,500 $350,600 $347,200 $347,200 $341,000 $339,600 $329,900 $323,600 $321,000 $316,800 $314,400 $311,300 $306,800 $295,800 $276,900 $274,300 $271,600 $271,200 $271,100 $266,900 $261,300 $238,700 $219,400 $205,900 $201,600 $200,600 $190,600 $188,800 $179,300 $160,600 $159,100 $155,000 $147,900 $129,900 $122,100 Benchmark Price by Timeframe and Property Type Value or percent change Value Percent change HPI or Benchmark Price HPI Benchmark Price 1. Area Group VREB District Summary 3. Area/Property Type Selection All 2. Property Type Condo Apartment (Con)
  • 9. Note: Areas with insufficient sales are not included in the HPI. Source: Victoria Real Estate Board May 2021 1 Month Ago 3 Months Ago 6 Months Ago 12 Months Ago 3 Years Ago 5 Years Ago January 2005 Victoria REB – Con Victoria – Con Victoria West – Con Oak Bay – Con Esquimalt – Con View Royal – Con Saanich East – Con Saanich West – Con Sooke – Con Langford – Con Colwood – Con North Saanich – Con Sidney – Con Central Saanich – Con 314.0 305.0 304.6 295.7 295.4 293.5 287.9 285.9 285.0 284.3 284.1 281.4 280.2 278.1 277.7 277.2 276.0 271.5 271.3 270.7 269.8 269.6 269.5 268.6 268.4 268.2 266.6 266.4 264.8 264.7 264.7 262.4 262.2 262.1 260.0 260.0 259.9 258.3 258.2 258.1 258.0 257.8 257.5 256.8 256.2 254.9 253.3 252.9 252.0 251.6 251.2 250.7 250.0 249.4 249.0 248.1 248.1 247.0 245.9 242.2 240.9 239.9 237.0 236.5 236.3 234.4 233.9 233.7 230.1 230.0 224.6 224.5 223.8 222.7 222.3 220.9 217.8 217.4 213.4 212.6 211.5 210.7 209.9 199.1 176.7 175.3 173.1 170.4 168.9 168.8 168.4 167.8 162.2 160.2 159.9 155.9 152.5 146.8 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 HPI by Timeframe and Property Type Value or percent change Value Percent change HPI or Benchmark Price HPI Benchmark Price 1. Area Group VREB District Summary 3. Area/Property Type Selection All 2. Property Type Condo Apartment (Con)
  • 10. Note: Areas with insufficient sales are not included in the HPI. Source: Victoria Real Estate Board May 2021 1 Month Ago 3 Months Ago 6 Months Ago 12 Months Ago 3 Years Ago 5 Years Ago January 2005 Victoria REB – Twn Victoria – Twn Victoria West – Twn Esquimalt – Twn View Royal – Twn Saanich East – Twn Saanich West – Twn Sooke – Twn Langford – Twn Colwood – Twn Sidney – Twn Central Saanich – Twn ML Malahat & Area – Twn GI Gulf Islands – Twn $794,900 $789,500 $777,200 $768,300 $748,100 $741,700 $734,300 $733,600 $729,900 $725,400 $724,300 $723,700 $716,900 $716,000 $712,100 $710,400 $706,100 $699,500 $698,100 $695,800 $693,200 $689,900 $680,300 $670,200 $667,600 $663,300 $660,900 $653,600 $653,300 $652,400 $647,800 $645,700 $645,400 $645,300 $642,900 $642,300 $641,000 $633,400 $633,300 $631,300 $626,500 $623,900 $621,200 $606,700 $603,200 $600,600 $597,600 $596,400 $588,800 $578,000 $576,200 $574,900 $572,300 $571,400 $569,800 $567,100 $563,400 $562,000 $561,200 $553,900 $549,900 $548,600 $544,300 $538,600 $537,700 $537,000 $532,200 $528,500 $526,800 $519,000 $516,900 $516,300 $510,900 $508,500 $508,100 $501,800 $500,900 $496,600 $492,700 $486,000 $480,900 $474,500 $465,600 $460,300 $459,900 $444,300 $443,000 $437,300 $429,200 $422,400 $403,500 $393,200 $390,900 $380,900 $374,600 $371,600 $334,900 $333,800 $316,600 $303,000 $277,200 $269,500 $267,700 $266,100 $262,100 $260,600 $245,700 $241,900 $235,600 $229,000 $219,300 $204,100 Benchmark Price by Timeframe and Property Type Value or percent change Value Percent change HPI or Benchmark Price HPI Benchmark Price 1. Area Group VREB District Summary 3. Area/Property Type Selection All 2. Property Type Townhouse (Twn)
  • 11. Note: Areas with insufficient sales are not included in the HPI. Source: Victoria Real Estate Board May 2021 1 Month Ago 3 Months Ago 6 Months Ago 12 Months Ago 3 Years Ago 5 Years Ago January 2005 Victoria REB – Twn Victoria – Twn Victoria West – Twn Esquimalt – Twn View Royal – Twn Saanich East – Twn Saanich West – Twn Sooke – Twn Langford – Twn Colwood – Twn Sidney – Twn Central Saanich – Twn ML Malahat & Area – Twn GI Gulf Islands – Twn 340.9 338.0 327.1 309.3 296.7 294.4 293.1 291.9 288.5 276.6 274.3 273.2 272.6 272.5 271.9 269.9 269.7 267.6 267.6 266.7 261.8 261.4 261.3 259.6 256.5 252.8 251.1 250.7 250.3 250.1 247.6 244.0 242.7 242.1 240.4 240.4 239.3 237.9 236.6 236.3 233.0 232.9 229.0 228.8 228.6 228.5 228.4 226.6 225.9 225.7 225.3 224.4 223.6 222.9 222.0 221.8 221.8 220.6 220.5 219.2 218.8 218.0 217.6 217.4 216.8 216.2 215.7 215.7 215.2 214.9 213.0 209.9 209.3 203.3 201.4 200.8 198.6 195.4 194.0 193.4 192.0 191.1 188.6 188.0 186.6 173.5 170.8 166.8 163.1 162.3 162.1 160.4 160.3 160.0 146.9 146.2 141.8 141.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 HPI by Timeframe and Property Type Value or percent change Value Percent change HPI or Benchmark Price HPI Benchmark Price 1. Area Group VREB District Summary 3. Area/Property Type Selection All 2. Property Type Townhouse (Twn)
  • 12. Note: Areas with insufficient sales are not included in the HPI. Source: Victoria Real Estate Board Victoria REB – SF-All Core – SF-All Westshore – SF-All Peninsula – SF-All Select Date Range: All values Jan 2006 Jan 2008 Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022 Benchmark Price ($) 300,000 400,000 500,000 600,000 700,000 800,000 900,000 1,000,000 Benchmark Price Performance over Time 1. Area Group VREB Area Summary 3. Area/Property Type Selection Multiple values 2. Property Type Single Family-All (SF-All) HPI or Benchmark Price HPI Benchmark Price Adding labels Hold Ctrl (Cmd) and select points on the chart to show multiple date/value labels
  • 13. Note: Areas with insufficient sales are not included in the HPI. Source: Victoria Real Estate Board Victoria REB – Con Core – Con Westshore – Con Peninsula – Con Select Date Range: All values Jan 2006 Jan 2008 Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022 Benchmark Price ($) 150,000 200,000 250,000 300,000 350,000 400,000 450,000 500,000 Benchmark Price Performance over Time 1. Area Group VREB Area Summary 3. Area/Property Type Selection All 2. Property Type Condo Apartment (Con) HPI or Benchmark Price HPI Benchmark Price Adding labels Hold Ctrl (Cmd) and select points on the chart to show multiple date/value labels
  • 14. Note: Areas with insufficient sales are not included in the HPI. Source: Victoria Real Estate Board Victoria REB – Twn Core – Twn Westshore – Twn Peninsula – Twn Select Date Range: All values Jan 2006 Jan 2008 Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022 Benchmark Price ($) 300,000 400,000 500,000 600,000 700,000 Benchmark Price Performance over Time 1. Area Group VREB Area Summary 3. Area/Property Type Selection Multiple values 2. Property Type Townhouse (Twn) HPI or Benchmark Price HPI Benchmark Price Adding labels Hold Ctrl (Cmd) and select points on the chart to show multiple date/value labels
  • 15. Note: Areas with insufficient sales are not included in the HPI. Source: Victoria Real Estate Board Victoria REB – SF-All Victoria REB – Twn Victoria REB – Con Select Date Range: All values Jan 2006 Jan 2008 Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022 Benchmark Price ($) 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 Benchmark Price Performance over Time 1. Area Group VREB Area Summary 3. Area/Property Type Selection Multiple values 2. Property Type Multiple values HPI or Benchmark Price HPI Benchmark Price Adding labels Hold Ctrl (Cmd) and select points on the chart to show multiple date/value labels
  • 16. Monthly Sales Summary (Mark I) Residential Waterfront Properties Integrated Into Their Own Districts Units Total Volume May 2021 District Produced: 01-Jun-2021 Residential Single Family Detached l Greater Victoria Victoria / Victoria West 50 $57,438,775 Oak Bay 31 $56,451,250 Esquimalt 14 $15,222,888 View Royal 13 $14,511,000 Saanich East 114 $146,647,265 Saanich West 38 $39,840,733 Central Saanich 13 $18,569,734 North Saanich 24 $37,893,500 Sidney 23 $23,210,150 Highlands 3 $2,877,500 Colwood 34 $33,401,898 Langford 80 $84,073,882 Metchosin 5 $6,870,000 Sooke 45 $39,936,385 Gulf Islands 29 $28,684,852 Total Greater Victoria 516 $605,629,812 Other Areas Malahat & Area 21 $20,287,100 Total Other Areas 21 $20,287,100 Total Single Family Detached 537 $625,916,912 Condo Apartment l Greater Victoria Victoria / Victoria West 151 $85,333,590 Oak Bay 6 $4,196,409 Esquimalt 9 $4,864,800 View Royal 12 $6,675,735 Saanich East 49 $23,663,600 Saanich West 17 $8,071,899 Central Saanich 4 $1,974,000 North Saanich 2 $1,371,400 Sidney 17 $10,450,600 Highlands 1 $70,000 Colwood 7 $3,945,800 Langford 42 $19,440,600 Sooke 8 $4,163,800 Total Greater Victoria 325 $174,222,233 Total Condo Apartment 325 $174,222,233 Page 1 of 3 Victoria Real Estate Board Multiple Listing Service ®
  • 17. Monthly Sales Summary (Mark I) Residential Waterfront Properties Integrated Into Their Own Districts Units Total Volume May 2021 District Produced: 01-Jun-2021 Row/Townhouse l Greater Victoria Victoria / Victoria West 24 $20,338,900 Oak Bay 1 $1,480,000 Esquimalt 2 $1,283,000 View Royal 7 $5,048,500 Saanich East 16 $14,972,203 Saanich West 8 $6,144,900 Central Saanich 10 $7,424,400 Sidney 9 $6,304,000 Colwood 8 $5,739,485 Langford 28 $19,033,499 Sooke 8 $4,362,600 Gulf Islands 5 $2,660,000 Total Greater Victoria 126 $94,791,487 Total Row/Townhouse 126 $94,791,487 Manufactured Home l Greater Victoria Victoria / Victoria West 1 $740,000 View Royal 2 $717,400 Central Saanich 4 $1,107,455 Sidney 1 $490,000 Langford 3 $544,000 Sooke 1 $315,000 Total Greater Victoria 12 $3,913,855 Other Areas Malahat & Area 2 $411,000 Total Other Areas 2 $411,000 Total Manufactured Home 14 $4,324,855 Total Residential 1002 $899,255,487 Page 2 of 3 Victoria Real Estate Board Multiple Listing Service ®
  • 18. Monthly Sales Summary (Mark I) Residential Waterfront Properties Integrated Into Their Own Districts Units Total Volume May 2021 District Produced: 01-Jun-2021 $936,036,346 1049 Grand Totals Other Property Lots & Acreage l Greater Victoria Saanich East 3 $3,443,500 Saanich West 1 $721,687 Central Saanich 1 $3,380,000 North Saanich 1 $687,500 Langford 8 $4,836,800 Sooke 4 $2,969,400 Gulf Islands 10 $4,710,900 Total Greater Victoria 28 $20,749,787 Other Areas Malahat & Area 2 $1,135,000 Total Other Areas 2 $1,135,000 Total Lots & Acreage 30 $21,884,787 17 $14,896,072 Other Commercial Properties l Page 3 of 3 Victoria Real Estate Board Multiple Listing Service ®
  • 19. Monthly Sales Summary (Mark II) Waterfront Properties Segregated Into a 'Waterfront' District Units Total Volume May 2021 District Produced: 01-Jun-2021 Residential Single Family Detached l Greater Victoria Victoria 46 $53,723,775 Victoria West 4 $3,715,000 Oak Bay 30 $52,751,250 Esquimalt 14 $15,222,888 View Royal 11 $11,776,000 Saanich East 112 $139,297,265 Saanich West 36 $37,175,733 Central Saanich 11 $13,839,734 North Saanich 22 $31,192,000 Sidney 21 $18,836,150 Highlands 3 $2,877,500 Colwood 34 $33,401,898 Langford 78 $81,638,882 Metchosin 3 $3,260,000 Sooke 41 $36,792,385 Gulf Islands 22 $22,386,852 Waterfront (all districts) 28 $47,742,500 Total Greater Victoria 516 $605,629,812 Other Areas Malahat & Area 18 $17,559,700 Waterfront (all districts) 3 $2,727,400 Total Other Areas 21 $20,287,100 Total Single Family Detached 537 $625,916,912 Condo Apartment l Greater Victoria Victoria 131 $68,828,368 Victoria West 15 $13,065,422 Oak Bay 6 $4,196,409 Esquimalt 8 $3,539,800 View Royal 12 $6,675,735 Saanich East 48 $22,803,600 Saanich West 17 $8,071,899 Central Saanich 3 $1,399,000 North Saanich 2 $1,371,400 Sidney 17 $10,450,600 Highlands 1 $70,000 Colwood 6 $3,030,800 Langford 42 $19,440,600 Sooke 3 $1,299,900 Waterfront (all districts) 14 $9,978,700 Total Greater Victoria 325 $174,222,233 Total Condo Apartment 325 $174,222,233 Page 1 of 3 Victoria Real Estate Board Multiple Listing Service ®
  • 20. Monthly Sales Summary (Mark II) Waterfront Properties Segregated Into a 'Waterfront' District Units Total Volume May 2021 District Produced: 01-Jun-2021 Row/Townhouse l Greater Victoria Victoria 19 $16,163,000 Victoria West 4 $2,825,900 Oak Bay 1 $1,480,000 Esquimalt 2 $1,283,000 View Royal 7 $5,048,500 Saanich East 15 $13,340,203 Saanich West 8 $6,144,900 Central Saanich 9 $6,274,400 Sidney 8 $5,229,000 Colwood 8 $5,739,485 Langford 28 $19,033,499 Sooke 7 $3,982,300 Gulf Islands 4 $2,123,100 Waterfront (all districts) 6 $6,124,200 Total Greater Victoria 126 $94,791,487 Total Row/Townhouse 126 $94,791,487 Manufactured Home l Greater Victoria Victoria 1 $740,000 View Royal 2 $717,400 Central Saanich 4 $1,107,455 Sidney 1 $490,000 Langford 3 $544,000 Sooke 1 $315,000 Total Greater Victoria 12 $3,913,855 Other Areas Malahat & Area 2 $411,000 Total Other Areas 2 $411,000 Total Manufactured Home 14 $4,324,855 Total Residential 1002 $899,255,487 Page 2 of 3 Victoria Real Estate Board Multiple Listing Service ®
  • 21. Monthly Sales Summary (Mark II) Waterfront Properties Segregated Into a 'Waterfront' District Units Total Volume May 2021 District Produced: 01-Jun-2021 $936,036,346 1049 Grand Totals Other Property Lots & Acreage l Greater Victoria Saanich East 3 $3,443,500 Saanich West 1 $721,687 Central Saanich 1 $3,380,000 North Saanich 1 $687,500 Langford 8 $4,836,800 Sooke 4 $2,969,400 Gulf Islands 10 $4,710,900 Total Greater Victoria 28 $20,749,787 Other Areas Malahat & Area 2 $1,135,000 Total Other Areas 2 $1,135,000 Total Lots & Acreage 30 $21,884,787 17 $14,896,072 Other Commercial Properties l Page 3 of 3 Victoria Real Estate Board Multiple Listing Service ®
  • 22. Sales to Active Listings Ratio The ratio of counts of total residential sales over total active residential listings for the last 25 months May 2021 Produced: 01-Jun-2021 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 110% 120% May 2019 Jun 2019 Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Dec 2020 Jan 2021 Feb 2021 Mar 2021 Apr 2021 May 2021 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) Victoria Real Estate Board Multiple Listing Service ® Page 1 of 1
  • 23. Monthly Comparative Activity By Property Type Includes All MLS® Property Types May 2021 Current Month This Year % Change Last Year Year To Date This Year % Change Last Year Produced: 01-Jun-2021 Single Family - Residential Units Listed 513 Units Sold 420 Sell/List Ratio 82 Sales Dollars $473,203,902 Average Price / Unit $1,126,676 Price Ratio 103 Days To Sell 14 Active Listings at Month End 358 % % 426 214 50 $174,658,334 $816,160 98 38 739 % % 20 96 171 38 -63 -52 % % % % % % 2329 1874 80 $2,093,180,287 $1,116,959 104 19 % % 1779 997 56 $849,635,022 $852,192 98 40 % % 31 88 146 31 -53 % % % % % Single Family - Residential Waterfront Units Listed 44 Units Sold 27 Sell/List Ratio 61 Sales Dollars $47,411,900 Average Price / Unit $1,755,996 Price Ratio 99 Days To Sell 18 Active Listings at Month End 66 % % 38 11 29 $15,771,500 $1,433,773 94 132 146 % % 16 145 201 22 -86 -55 % % % % % % 176 116 66 $226,365,487 $1,951,427 99 52 % % 171 60 35 $96,639,763 $1,610,663 94 109 % % 3 93 134 21 -53 % % % % % Single Family - Residential Acreage Units Listed 59 Units Sold 39 Sell/List Ratio 66 Sales Dollars $60,174,000 Average Price / Unit $1,542,923 Price Ratio 99 Days To Sell 37 Active Listings at Month End 66 % % 56 19 34 $19,346,788 $1,018,252 99 61 122 % % 5 105 211 52 -39 -46 % % % % % % 225 178 79 $274,861,385 $1,544,165 100 49 % % 185 89 48 $94,564,349 $1,062,521 96 80 % % 22 100 191 45 -39 % % % % % Condo Apartment Units Listed 432 Units Sold 325 Sell/List Ratio 75 Sales Dollars $174,222,233 Average Price / Unit $536,068 Price Ratio 100 Days To Sell 22 Active Listings at Month End 462 % % 337 108 32 $48,930,485 $453,060 98 36 686 % % 28 201 256 18 -37 -33 % % % % % % 1987 1539 77 $823,186,837 $534,884 100 28 % % 1473 652 44 $313,533,610 $480,880 98 37 % % 35 136 163 11 -23 % % % % % Page 1 of 8 Victoria Real Estate Board Multiple Listing Service ®
  • 24. Monthly Comparative Activity By Property Type Includes All MLS® Property Types May 2021 Current Month This Year % Change Last Year Year To Date This Year % Change Last Year Produced: 01-Jun-2021 Row/Townhouse Units Listed 123 Units Sold 126 Sell/List Ratio 102 Sales Dollars $94,791,487 Average Price / Unit $752,313 Price Ratio 103 Days To Sell 18 Active Listings at Month End 87 % % 98 61 62 $34,935,350 $572,711 98 56 214 % % 26 107 171 31 -68 -59 % % % % % % 659 568 86 $398,391,402 $701,393 103 25 % % 507 299 59 $177,468,229 $593,539 99 48 % % 30 90 124 18 -48 % % % % % Half Duplex (Up and Down) Units Listed 3 Units Sold 1 Sell/List Ratio 33 Sales Dollars $2,300,000 Average Price / Unit $2,300,000 Price Ratio 118 Days To Sell 7 Active Listings at Month End 4 % % 0 0 $0 1 % % 300 % % % % % % 11 6 55 $7,858,900 $1,309,817 105 15 % % 3 2 67 $691,000 $345,500 95 172 % % 267 200 1037 279 -91 % % % % % Half Duplex (Side by Side) Units Listed 33 Units Sold 34 Sell/List Ratio 103 Sales Dollars $28,746,485 Average Price / Unit $845,485 Price Ratio 103 Days To Sell 19 Active Listings at Month End 25 % % 7 7 100 $5,509,400 $787,057 97 36 15 % % 371 386 422 7 -47 67 % % % % % % 157 131 83 $102,600,815 $783,212 104 22 % % 43 23 53 $15,669,400 $681,278 98 31 % % 265 470 555 15 -28 % % % % % Half Duplex (Front and Back) Units Listed 4 Units Sold 2 Sell/List Ratio 50 Sales Dollars $1,805,000 Average Price / Unit $902,500 Price Ratio 107 Days To Sell 2 Active Listings at Month End 5 % % 2 0 0 $0 3 % % 100 67 % % % % % % 22 13 59 $10,767,350 $828,258 104 15 % % 6 4 67 $2,525,400 $631,350 99 42 % % 267 225 326 31 -64 % % % % % Page 2 of 8 Victoria Real Estate Board Multiple Listing Service ®
  • 25. Monthly Comparative Activity By Property Type Includes All MLS® Property Types May 2021 Current Month This Year % Change Last Year Year To Date This Year % Change Last Year Produced: 01-Jun-2021 Recreational Units Listed 2 Units Sold 4 Sell/List Ratio 200 Sales Dollars $566,000 Average Price / Unit $141,500 Price Ratio 94 Days To Sell 168 Active Listings at Month End 6 % % 3 1 33 $177,500 $177,500 91 247 15 % % -33 300 219 -20 -32 -60 % % % % % % 11 12 109 $1,718,000 $143,167 96 359 % % 11 3 27 $276,000 $92,000 91 250 % % 0 300 522 56 44 % % % % % Manufactured Home Units Listed 23 Units Sold 14 Sell/List Ratio 61 Sales Dollars $4,324,855 Average Price / Unit $308,918 Price Ratio 104 Days To Sell 21 Active Listings at Month End 28 % % 21 13 62 $2,650,400 $203,877 97 48 38 % % 10 8 63 52 -55 -26 % % % % % % 106 83 78 $31,668,256 $381,545 100 38 % % 81 55 68 $10,681,625 $194,211 96 61 % % 31 51 196 96 -39 % % % % % Residential Lots Units Listed 28 Units Sold 15 Sell/List Ratio 54 Sales Dollars $8,848,887 Average Price / Unit $589,926 Price Ratio 100 Days To Sell 40 Active Listings at Month End 56 % % 30 6 20 $2,303,900 $383,983 98 60 134 % % -7 150 284 54 -34 -58 % % % % % % 135 119 88 $56,754,182 $476,926 99 96 % % 127 48 38 $23,289,274 $485,193 100 140 % % 6 148 144 -2 -32 % % % % % Residential Lots - Waterfront Units Listed 4 Units Sold 2 Sell/List Ratio 50 Sales Dollars $1,565,000 Average Price / Unit $782,500 Price Ratio 98 Days To Sell 23 Active Listings at Month End 6 % % 7 2 29 $590,000 $295,000 91 248 34 % % -43 0 165 165 -91 -82 % % % % % % 19 25 132 $14,984,695 $599,388 97 209 % % 30 5 17 $2,433,125 $486,625 90 311 % % -37 400 516 23 -33 % % % % % Page 3 of 8 Victoria Real Estate Board Multiple Listing Service ®
  • 26. Monthly Comparative Activity By Property Type Includes All MLS® Property Types May 2021 Current Month This Year % Change Last Year Year To Date This Year % Change Last Year Produced: 01-Jun-2021 Residential Acreage Units Listed 16 Units Sold 9 Sell/List Ratio 56 Sales Dollars $4,721,900 Average Price / Unit $524,656 Price Ratio 99 Days To Sell 109 Active Listings at Month End 33 % % 11 8 73 $3,731,000 $466,375 95 85 73 % % 45 13 27 12 28 -55 % % % % % % 58 50 86 $32,545,580 $650,912 98 115 % % 63 28 44 $17,545,500 $626,625 93 114 % % -8 79 85 4 1 % % % % % Residential Acreage - Waterfront Units Listed 3 Units Sold 4 Sell/List Ratio 133 Sales Dollars $6,749,000 Average Price / Unit $1,687,250 Price Ratio 87 Days To Sell 118 Active Listings at Month End 9 % % 6 0 0 $0 31 % % -50 -71 % % % % % % 17 21 124 $19,694,000 $937,810 92 206 % % 20 7 35 $5,959,082 $851,297 88 105 % % -15 200 230 10 97 % % % % % Revenue - Duplex/Triplex Units Listed 3 Units Sold 10 Sell/List Ratio 333 Sales Dollars $11,709,625 Average Price / Unit $1,170,963 Price Ratio 101 Days To Sell 27 Active Listings at Month End 6 % % 5 2 40 $2,133,000 $1,066,500 95 78 7 % % -40 400 449 10 -65 -14 % % % % % % 50 32 64 $37,178,296 $1,161,822 102 19 % % 23 15 65 $14,858,950 $990,597 97 41 % % 117 113 150 17 -55 % % % % % Revenue - Multi Units Units Listed 4 Units Sold 4 Sell/List Ratio 100 Sales Dollars $7,388,000 Average Price / Unit $1,847,000 Price Ratio 95 Days To Sell 57 Active Listings at Month End 17 % % 3 0 0 $0 7 % % 33 143 % % % % % % 31 19 61 $44,282,500 $2,330,658 96 74 % % 12 1 8 $1,750,000 $1,750,000 88 30 % % 158 1800 2430 33 146 % % % % % Page 4 of 8 Victoria Real Estate Board Multiple Listing Service ®
  • 27. Monthly Comparative Activity By Property Type Includes All MLS® Property Types May 2021 Current Month This Year % Change Last Year Year To Date This Year % Change Last Year Produced: 01-Jun-2021 Revenue - Apartment Block 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 % % 1 2 200 $2,898,900 $1,449,450 89 136 4 % % -100 -100 -100 -100 % % % % % % 0 0 $0 % % 6 3 50 $8,498,900 $2,832,967 93 128 % % -100 -100 -100 % % % % % Revenue - Commercial Units Listed 8 Units Sold 5 Sell/List Ratio 63 Sales Dollars $5,471,040 Average Price / Unit $1,094,208 Price Ratio 98 Days To Sell 43 Active Listings at Month End 37 % % 6 1 17 $685,000 $685,000 98 51 40 % % 33 400 699 60 -15 -8 % % % % % % 39 15 38 $19,243,796 $1,282,920 99 101 % % 30 8 27 $7,015,900 $876,988 96 92 % % 30 88 174 46 10 % % % % % Revenue - Industrial Units Listed 1 Units Sold 1 Sell/List Ratio 100 Sales Dollars $576,450 Average Price / Unit $576,450 Price Ratio 105 Days To Sell 38 Active Listings at Month End 7 % % 0 0 $0 1 % % 600 % % % % % % 11 8 73 $10,673,118 $1,334,140 98 46 % % 1 0 0 $0 % % 1000 % % % % % Business with Land & Building Units Listed 2 Units Sold 1 Sell/List Ratio 50 Sales Dollars $1,337,500 Average Price / Unit $1,337,500 Price Ratio 89 Days To Sell 147 Active Listings at Month End 4 % % 4 0 0 $0 38 % % -50 -89 % % % % % % 5 1 20 $1,337,500 $1,337,500 89 147 % % 36 9 25 $20,352,973 $2,261,441 90 177 % % -86 -89 -93 -41 -17 % % % % % Page 5 of 8 Victoria Real Estate Board Multiple Listing Service ®
  • 28. Monthly Comparative Activity By Property Type Includes All MLS® Property Types May 2021 Current Month This Year % Change Last Year Year To Date This Year % Change Last Year Produced: 01-Jun-2021 Business Only Units Listed 6 Units Sold 1 Sell/List Ratio 17 Sales Dollars $123,000 Average Price / Unit $123,000 Price Ratio 95 Days To Sell 199 Active Listings at Month End 38 % % 6 0 0 -$165,500 99 88 57 % % 0 -174 126 -33 % % % % % % 37 7 19 $1,514,500 $216,357 89 158 % % 54 10 19 $930,500 $93,050 87 114 % % -31 -30 63 133 39 % % % % % 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 0 % % 0 0 $0 4 % % -100 % % % % % % 0 0 $0 % % 2 0 0 $0 % % -100 % % % % % Lease - Office Units Listed 8 Units Sold 4 Sell/List Ratio 50 Sales Dollars $66 Average Price / Unit $16 Price Ratio 97 Days To Sell 118 Active Listings at Month End 66 % % 3 0 0 $0 35 % % 167 89 % % % % % % 52 12 23 $1,955 $163 96 125 % % 27 2 7 $40 $20 402 % % 93 500 4787 715 -69 % % % % % Lease - Retail Units Listed 8 Units Sold 1 Sell/List Ratio 13 Sales Dollars $16 Average Price / Unit $16 Price Ratio 98 Days To Sell 124 Active Listings at Month End 42 % % 8 1 13 $1,650 $1,650 103 165 27 % % 0 0 -99 -99 -25 56 % % % % % % 37 13 35 $8,541 $657 92 117 % % 22 5 23 $1,709 $342 110 266 % % 68 160 400 92 -56 % % % % % Page 6 of 8 Victoria Real Estate Board Multiple Listing Service ®
  • 29. Monthly Comparative Activity By Property Type Includes All MLS® Property Types May 2021 Current Month This Year % Change Last Year Year To Date This Year % Change Last Year Produced: 01-Jun-2021 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 % % 1 0 0 $0 1 % % -100 -100 % % % % % % 0 0 $0 % % 1 0 0 $0 % % -100 % % % % % 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 7 % % 0 0 $0 0 % % % % % % % % 8 0 0 $0 % % 0 0 $0 % % % % % % % Lease - Other Units Listed 1 Units Sold 0 Sell/List Ratio Sales Dollars $0 Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 3 % % 7 1 14 $15 $15 34 49 % % -86 -100 -100 -94 % % % % % % 2 1 50 $2,890,580 $2,890,580 19270533 169 % % 41 1 2 $15 $15 34 % % -95 0 ######## ######## 397 % % % % % Commercial Land Units Listed 5 Units Sold 0 Sell/List Ratio Sales Dollars $0 Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 12 % % 9 0 0 $0 23 % % -44 -48 % % % % % % 10 4 40 $10,812,500 $2,703,125 96 325 % % 20 0 0 $0 % % -50 % % % % % Page 7 of 8 Victoria Real Estate Board Multiple Listing Service ®
  • 30. Monthly Comparative Activity By Property Type Includes All MLS® Property Types May 2021 Current Month This Year % Change Last Year Year To Date This Year % Change Last Year Produced: 01-Jun-2021 Units Listed 1333 Units Sold 1049 Sell/List Ratio 79 Sales Dollars $936,036,346 Average Price / Unit $892,313 Price Ratio 102 Days To Sell 22 Active Listings at Month End 1450 % % Grand Totals 1095 457 42 $314,157,722 $687,435 98 47 2544 % % 22 130 198 30 -54 -43 % % % % % % 6194 4847 78 $4,222,520,462 $871,162 102 32 % % 4774 2326 49 $1,664,320,365 $715,529 98 50 % % 30 108 154 22 -36 % % % % % Page 8 of 8 Victoria Real Estate Board Multiple Listing Service ®