Victoria Real Estate Board March 2021 Statistics Package

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
April 1, 2021
The fast pace of Victoria real estate market surges on
A total of 1,173 properties sold in the Victoria Real Estate Board region this March, 92.9 per cent more than the
608 properties sold in March 2020 and 35.9 per cent more than the previous month of February. Sales of
condominiums were up 111.8 per cent from March 2020 with 377 units sold. Sales of single family homes were
up 88.2 per cent from March 2020 with 574 sold.
“Limited supply with overwhelming demand has been the story for the first quarter of 2021,” said Victoria Real
Estate Board President David Langlois. “This time last year was the beginning of the pandemic and most
everything was shut down – so we cannot compare year over year numbers – but if we look at longer term
trends, the average number of sales from the month of March in the past ten years before 2020 was 715
properties. Numbers from last month are close to the market trends we saw in 2016, but with an even greater
imbalance in inventory due to a surge in consumer demand for homes in the Victoria area.”
There were 1,310 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of
March 2021, 41.8 per cent fewer properties than the total available at the end of March 2020 and 0.6 per cent
properties fewer than the 1,318 active listings for sale at the end of February 2021.
“The underlying issue is a deficit in supply,” explained Langlois. “Supply needs to be addressed by all levels of
government and particularly by local governments which control land use policies and development
processes. Equally important, governments need to ensure that measures they make to moderate the housing
market do not exacerbate the problem by attempting to suppress demand by adding costs or qualification
barriers. These sorts of measures raise the overall cost of housing and add even more challenges for first time
buyers. We need to continue to push for both increased supply and sensible government policies around
housing.”
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in
March 2020 was $879,600. The benchmark value for the same home in March 2021 increased by 10.1 per cent
to $968,700 a 2.2 per cent increase from the previous month of February. The MLS® HPI benchmark value for a
condominium in the Victoria Core in March 2020 was $531,800, while the benchmark value for the same
condominium in March 2021 remained close to last year’s value at $529,100 a 0.5 per cent decrease.
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 1,409 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$
March 2021
552
377
140
19
1,110
574
1,173
22
1,310
373
290
102
18
800
390
863
17
1,318
272
178
78
15
576
305
608
33
2,252
$1,181,265
$554,137
$684,257
$567,337
$1,176,691
$1,061,937
$1,025,000
$486,250
$649,950
$299,000
$1,022,000
$885,654
$1,160,541
$542,564
$682,071
$346,211
$1,160,938
$1,169,647
$978,000
$454,900
$630,000
$192,500
$955,000
$898,000
$986,602
$498,990
$594,820
$194,162
$952,910
$675,206
$845,000
$438,700
$580,500
$170,000
$822,000
$600,000
48.0%
30.0%
37.3%
5.6%
38.8%
47.2%
35.9%
29.4%
-0.6%
102.9%
111.8%
79.5%
26.7%
92.7%
88.2%
92.9%
-33.3%
-41.8%
1.8%
2.1%
0.3%
63.9%
1.4%
-9.2%
19.7%
11.1%
15.0%
192.2%
23.5%
57.3%
4.8%
6.9%
3.2%
55.3%
7.0%
-1.4%
21.3%
10.8%
12.0%
75.9%
24.3%
47.6%
February 2021 March 2020
Legend
Units: net number of listings sold
LM%: percentage change since Last Month
LY%: percentage change since This Month Last Year
Average$: 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-Apr-2021
March 2021
Previous Periods Comparison
This Month Last Year
Page 1 of 1
Victoria Real Estate Board Multiple Listing Service ®
March 2021
Statistics Package for Media
Victoria Real Estate Board March 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

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The ratio of counts of total residential sales over total active residential listings for the last 25 months
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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)
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

MLS® HPI benchmark and value - Condominium / Apartments

Note: Areas with insufficient sales are not included in the HPI.
Source: Victoria Real Estate Board
March 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
$991,200
$989,000
$981,300
$970,500
$969,500
$960,800
$957,600
$946,400
$930,800
$930,700
$925,100
$924,000
$923,200 $922,200
$918,500
$898,700
$895,500
$885,100
$875,800
$871,100
$868,700
$864,300
$861,800 $852,600
$851,200
$850,300
$841,300
$839,200
$836,500
$832,900
$830,800
$829,500
$828,400
$828,400 $825,600
$815,000
$813,400
$811,100
$793,000
$790,300
$788,900
$783,300
$781,000
$773,400
$768,300
$768,200
$766,900
$763,600
$763,400
$757,800
$752,800 $750,900
$750,800
$748,800
$747,300
$743,700
$741,500
$740,400
$733,900
$733,800
$730,800 $725,300
$724,500
$720,700
$716,300
$713,900
$709,900
$701,700
$700,900
$695,200
$691,700
$688,800
$684,200
$681,900
$676,000
$676,000
$671,700
$669,600
$661,300
$661,100
$660,200
$652,300
$646,200
$643,700
$642,100 $640,500
$635,500
$621,500
$614,200
$607,200
$578,400
$576,200
$573,100
$570,400
$565,400
$563,400
$556,800
$552,000
$550,600 $544,800
$540,500
$535,400
$534,300
$505,700
$503,700
$499,900
$491,700
$490,000
$487,300
$459,200
$455,400
$440,100
$437,700
$426,400
$394,500
$373,100
$370,800
$357,100
$357,000
$355,300
$349,200
$332,600
$329,800
$321,400
$308,000
$292,400
$291,500
$284,200
$282,400
$265,000
$1,352,300 $1,311,400 $1,257,900 $1,254,000
$1,231,400
$1,189,500
$1,102,300 $1,077,400 $1,066,700
$1,029,400
$1,023,700
$1,022,900
$1,022,300
$1,015,900
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)

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
277.6 268.7 264.9 264.2
258.6 258.3
257.8
256.1
251.5
251.2
251.0
250.7
247.8
247.7
246.2
246.0
245.9
245.0
245.0
245.0
244.0
243.3
242.8
242.3 241.7
240.4
240.3
239.8
239.4
238.7
238.6
238.4
237.6
237.6
237.3
237.2
236.8
236.4
235.6
235.5
235.2
234.5
234.0
233.7
233.1
232.9
232.9
232.7
232.0
231.0
230.7
229.5
229.1
228.3
227.9
227.8
227.2
227.0
226.9
226.2
226.1
225.7
225.6
224.8
224.6
224.5
224.3
223.1
223.1
222.5
222.1
222.0
221.5
221.1 218.9
218.3
218.1
217.5
217.0
216.6
215.5
215.5
215.2
212.6
211.0
210.7
210.3
209.3
208.3
205.4
205.0
204.4
203.4
202.0
201.8
197.7
196.9
196.5
194.8
194.2
191.4
190.8
190.3
188.9 186.9
183.7
183.3
174.6
173.6
173.0
168.8
167.6
167.4
162.0
161.9
160.5
156.7
151.1
151.0
151.0
150.3
149.1
147.9
141.9
140.8
121.9 100.0
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
Percent change
HPI
Benchmark Price
1. Area Group
All
2. Property Type

Victoria REB – Con
Victoria – Con
Victoria West – Con
Oak Bay – Con
Esquimalt – Con
View Royal – Con
Saanich East – Con
Saanich West – Con
Langford – Con
Colwood – Con
Sidney – Con
Central Saanich – Con
$844,200 $837,700
$821,100 $811,300
$810,600 $780,800
$635,900
$620,700 $611,400 $607,300 $596,700
$584,300
$551,500 $538,200 $536,300
$527,500 $527,300
$521,600 $519,800
$518,000
$514,700 $505,900 $502,600
$501,800
$498,300
$493,900
$487,800
$487,600
$487,300
$482,300
$482,200
$479,200
$476,700
$473,400
$469,800 $467,500 $467,100
$466,700
$464,900
$464,500
$462,700
$462,500
$459,100 $456,800
$456,700 $456,500
$454,000
$448,400
$443,800
$443,800
$443,500 $436,400
$433,100
$432,100
$432,100
$432,100
$430,600
$429,500
$428,900
$427,300
$426,800
$424,900 $417,300
$417,200
$416,300
$405,800
$399,400 $393,200
$392,500
$390,400
$385,500 $367,900 $367,000
$362,400
$354,100
$338,800
$329,700
$317,400
$305,700
$300,900
$285,700
$279,600
$279,500
$275,600
$268,300
$253,000
$210,400
$205,300
$203,900
$202,500
$191,500
$176,600
$171,400
$169,700
$161,300
$155,700
Value
Percent change
HPI
Benchmark Price
1. Area Group
All
2. Property Type
Condo Apartment (Con)

Victoria REB – Con
Victoria – Con
Victoria West – Con
Oak Bay – Con
Esquimalt – Con
View Royal – Con
Saanich East – Con
Saanich West – Con
Langford – Con
Colwood – Con
Sidney – Con
Central Saanich – Con
275.1
275.0
272.6
270.6
269.2 269.1
267.9
267.6
267.0 265.9
262.1
260.6
258.9
258.7
257.9
256.5
255.8
255.8 254.9
254.9
252.7
252.5
252.4
252.1
251.8
251.3
251.3
250.7 250.6
250.6
249.2
249.0
248.9
248.1
247.8
247.6
247.3
246.5
246.1
245.4
245.3
245.3
244.7
244.1 243.9
242.4
242.0
241.6
240.6
240.0
239.5
239.3
239.2
238.2
237.5
236.3
236.3
235.8
235.7
233.8
233.4
231.6
230.5
229.6
229.4
227.8
225.4
223.6 222.5
222.3
218.4
204.7
173.3
172.5
172.3
168.4
168.3
163.1
161.7
159.6
156.1
154.6
148.6
143.2
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Value
Percent change
HPI
Benchmark Price
1. Area Group
All
2. Property Type

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
$768,200
$767,300 $760,900 $747,000
$745,000 $739,800
$728,300
$725,900
$725,400
$724,300
$711,100
$708,000 $704,600
$703,000
$700,000
$689,200 $688,200 $676,200
$673,200
$672,300
$668,800
$667,200
$655,300
$652,500
$652,400
$652,100
$651,800
$647,800
$644,600
$642,100
$642,000
$638,400
$636,700
$635,100
$634,600
$632,400
$632,300
$631,400
$627,900
$626,000
$621,300
$620,300
$612,300
$600,900
$600,000
$599,500
$598,500
$597,100
$593,300
$593,100
$592,400
$590,200
$588,900 $588,700
$588,500
$585,400
$582,600
$582,000
$572,300 $566,900
$564,400
$563,600
$562,800
$559,000
$558,800
$534,000
$533,000
$532,900
$532,800
$527,500 $516,500
$515,700 $509,300
$507,100
$505,600
$505,100
$501,900
$501,600
$500,800
$500,300
$494,900
$486,500 $475,000
$465,700
$453,400
$448,600
$444,000
$443,600
$433,600
$432,200
$418,800
$418,200
$388,000
$387,500
$377,000
$369,100
$366,200
$353,400
$334,600
$322,600
$287,700
$278,300
$269,500
$266,600
$266,100
$261,800
$256,100
$250,100
$247,600
$245,700
$241,900
$234,700
Value
Percent change
HPI
Benchmark Price
1. Area Group
All
2. Property Type
Townhouse (Twn)

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
309.9 307.3 301.7 287.2
275.6 275.2
273.7
272.6
272.2
271.9
270.9
270.4
269.7 263.9
256.7
256.0
255.4
250.9 250.8
250.3
248.2
247.6
246.1 244.9
243.3
240.6
240.4
240.2
240.1
239.9
238.3
238.1
237.6
235.7
233.7
232.9
232.7
231.6
230.9
230.7
229.7
229.3
228.0
227.0
226.8
225.6
225.0
224.9
224.5
224.0
220.3
220.2
220.0
219.6
217.9
217.3
213.1
209.7
208.8
207.4
207.3
205.9
203.6
202.2
201.5
201.4
201.4 198.9
197.3
195.9
194.9
194.8
193.7 191.7
190.3
190.0
188.7
188.2
188.0
185.7
185.5
179.3
177.9
175.9
175.2
173.4
165.1
160.4
157.1
156.7
155.3
155.2
154.2
153.4
141.0
138.0
137.6
135.5
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
Value
Percent change
HPI
Benchmark Price
1. Area Group
All
2. Property Type
Townhouse (Twn)

Victoria REB – SF-All Core – SF-All Westshore – SF-All Peninsula – SF-All
Select Date Range:
All values
Jan 2005
Jan 2006
Jan 2007
Jan 2008
Jan 2009
Jan 2010
Jan 2011
Jan 2012
Jan 2013
Jan 2014
Jan 2015
Jan 2016
Jan 2017
Jan 2018
Jan 2019
Jan 2020
Jan 2021
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
Multiple values
2. Property Type
HPI
Benchmark Price
Adding labels
Hold Ctrl (Cmd) and select points on the chart to show multiple date/value labels

Victoria REB – Con Core – Con Westshore – Con Peninsula – Con
Select Date Range:
All values
Jan 2005
Jan 2006
Jan 2007
Jan 2008
Jan 2009
Jan 2010
Jan 2011
Jan 2012
Jan 2013
Jan 2014
Jan 2015
Jan 2016
Jan 2017
Jan 2018
Jan 2019
Jan 2020
Jan 2021
Benchmark Price ($)
200,000
250,000
300,000
350,000
400,000
450,000
500,000
550,000
1. Area Group
VREB Area Summary
All
2. Property Type
HPI
Benchmark Price
Adding labels

Victoria REB – Twn Core – Twn Westshore – Twn Peninsula – Twn
Select Date Range:
All values
Jan 2005
Jan 2006
Jan 2007
Jan 2008
Jan 2009
Jan 2010
Jan 2011
Jan 2012
Jan 2013
Jan 2014
Jan 2015
Jan 2016
Jan 2017
Jan 2018
Jan 2019
Jan 2020
Jan 2021
Benchmark Price ($)
300,000
400,000
500,000
600,000
700,000
1. Area Group
VREB Area Summary
Multiple values
2. Property Type
Townhouse (Twn)
HPI
Benchmark Price
Adding labels

Victoria REB – SF-All Victoria REB – Twn Victoria REB – Con
Select Date Range:
All values
Jan 2005
Jan 2006
Jan 2007
Jan 2008
Jan 2009
Jan 2010
Jan 2011
Jan 2012
Jan 2013
Jan 2014
Jan 2015
Jan 2016
Jan 2017
Jan 2018
Jan 2019
Jan 2020
Jan 2021
Benchmark Price ($)
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1. Area Group
VREB Area Summary
Multiple values
2. Property Type
Multiple values
HPI
Benchmark Price
Adding labels

Monthly Sales Summary (Mark I)
Residential Waterfront Properties Integrated Into Their Own Districts
Units Total Volume
March 2021
District
Residential
Single Family Detached
l
Greater Victoria
Victoria / Victoria West 65 $86,785,108
Oak Bay 31 $56,444,000
Esquimalt 16 $16,011,750
View Royal 16 $15,277,000
Saanich East 119 $148,773,328
Saanich West 55 $56,619,792
Central Saanich 20 $27,672,000
North Saanich 24 $38,582,350
Sidney 22 $20,954,650
Highlands 4 $3,815,700
Colwood 24 $22,092,299
Langford 84 $85,630,958
Metchosin 7 $10,251,000
Sooke 38 $33,241,335
Gulf Islands 27 $29,907,000
Total Greater Victoria 552 $652,058,270
Other Areas
Malahat Area 20 $20,912,608
UpIsland / Mainland 2 $2,450,000
Total Other Areas 22 $23,362,608
Total Single Family Detached 574 $675,420,878
Condo Apartment
l
Greater Victoria
Oak Bay 12 $9,063,900
Esquimalt 14 $6,221,800
View Royal 16 $8,971,570
Saanich East 38 $18,500,450
Sidney 24 $14,551,100
Colwood 9 $4,782,000
Langford 52 $25,788,627
Sooke 6 $2,761,077
Gulf Islands 1 $325,000
Total Condo Apartment 377 $208,909,573
Page 1 of 3

Units Total Volume
March 2021
District
Row/Townhouse
l
Greater Victoria
Esquimalt 4 $2,659,500
View Royal 5 $3,728,800
Sidney 5 $3,611,500
Colwood 4 $2,507,600
Langford 42 $26,739,558
Sooke 16 $8,866,595
Total Row/Townhouse 140 $95,796,025
Manufactured Home
l
Greater Victoria
View Royal 2 $534,000
Sidney 3 $1,477,000
Langford 2 $445,900
Sooke 1 $249,500
Other Areas
Malahat Area 3 $610,000
Total Other Areas 3 $610,000
Total Manufactured Home 19 $10,779,400
Total Residential 1110 $990,905,876
Page 2 of 3

Units Total Volume
March 2021
District
$1,037,555,093
1173
Grand Totals
Other Property
Lots Acreage
l
Greater Victoria
Oak Bay 2 $1,850,000
North Saanich 1 $690,000
Colwood 1 $799,900
Langford 6 $3,901,000
Sooke 7 $4,572,500
Other Areas
Total Lots Acreage 46 $27,524,600
17 $19,124,617
Other Commercial Properties
l
Page 3 of 3

Monthly Sales Summary (Mark II)
Waterfront Properties Segregated Into a 'Waterfront' District
Units Total Volume
March 2021
District
Residential
Single Family Detached
l
Greater Victoria
Victoria 62 $81,437,987
Victoria West 2 $1,847,121
Oak Bay 31 $56,444,000
Esquimalt 15 $14,411,750
View Royal 16 $15,277,000
Saanich East 119 $148,773,328
Sidney 22 $20,954,650
Highlands 4 $3,815,700
Colwood 23 $20,762,299
Langford 83 $84,190,958
Metchosin 7 $10,251,000
Sooke 36 $29,311,335
Waterfront (all districts) 17 $40,261,750
Other Areas
Malahat Area 18 $17,592,708
UpIsland / Mainland 1 $750,000
Total Other Areas 22 $23,362,608
Total Single Family Detached 574 $675,420,878
Condo Apartment
l
Greater Victoria
Victoria 145 $82,676,449
Oak Bay 10 $6,893,900
Esquimalt 13 $5,663,800
View Royal 14 $7,536,570
Sidney 23 $13,702,100
Colwood 9 $4,782,000
Langford 52 $25,788,627
Sooke 1 $304,500
Gulf Islands 1 $325,000
Total Condo Apartment 377 $208,909,573
Page 1 of 3

Units Total Volume
March 2021
District
Row/Townhouse
l
Greater Victoria
Victoria 13 $10,209,795
Esquimalt 4 $2,659,500
View Royal 3 $2,148,900
Sidney 4 $2,463,500
Colwood 4 $2,507,600
Langford 42 $26,739,558
Sooke 16 $8,866,595
Total Row/Townhouse 140 $95,796,025
Manufactured Home
l
Greater Victoria
View Royal 2 $534,000
Sidney 3 $1,477,000
Langford 2 $445,900
Sooke 1 $249,500
Other Areas
Total Manufactured Home 19 $10,779,400
Total Residential 1110 $990,905,876
Page 2 of 3

Units Total Volume
March 2021
District
$1,037,555,093
1173
Grand Totals
Other Property
Lots Acreage
l
Greater Victoria
Oak Bay 2 $1,850,000
North Saanich 1 $690,000
Colwood 1 $799,900
Langford 6 $3,901,000
Sooke 7 $4,572,500
Other Areas
Total Lots Acreage 46 $27,524,600
17 $19,124,617
Other Commercial Properties
l
Page 3 of 3

Sales to Active Listings Ratio
The ratio of counts of total residential sales over total active residential listings for the last 25 months
March 2021
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
110%
120%
Mar
2019
Apr
2019
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
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
March 2021
Current Month
This Year % Change
Last Year
Year To Date
This Year % Change
Last Year
Single Family - Residential
Units Listed 567
Units Sold 468
Sell/List Ratio 83
Sales Dollars $527,624,057
Average Price / Unit $1,127,402
Price Ratio 105
Days To Sell 15
Active Listings at Month End 292
%
%
419
259
62
$224,462,392
$866,650
99
29
619
%
%
35
81
135
30
-50
-53
%
%
%
%
%
%
1189
1000
84
$1,123,145,392
$1,123,145
103
23
%
%
1085
650
60
$564,232,854
$868,051
98
42
%
%
10
54
99
29
-46
%
%
%
%
%
Single Family - Residential Waterfront
Units Listed 31
Units Sold 20
Sell/List Ratio 65
Price Ratio 99
Days To Sell 46
%
%
44
13
30
$32,164,888
$2,474,222
94
136
148
%
%
-30
54
41
-8
-66
-69
%
%
%
%
%
%
83
61
73
$127,827,550
$2,095,534
97
79
%
%
110
41
37
$70,723,263
$1,724,958
94
110
%
%
-25
49
81
21
-28
%
%
%
%
%
Single Family - Residential Acreage
Units Listed 61
Units Sold 42
Sell/List Ratio 69
Price Ratio 102
Days To Sell 51
%
%
49
19
39
$22,987,325
$1,209,859
97
101
102
%
%
24
121
166
20
-49
-40
%
%
%
%
%
%
120
94
78
$151,106,608
$1,607,517
100
63
%
%
104
54
52
$60,011,625
$1,111,326
96
99
%
%
15
74
152
45
-36
%
%
%
%
%
Condo Apartment
Units Listed 419
Units Sold 377
Sell/List Ratio 90
Average Price / Unit $554,137
Price Ratio 100
Days To Sell 29
%
%
335
178
53
$88,820,201
$498,990
98
31
590
%
%
25
112
135
11
-8
-35
%
%
%
%
%
%
1098
883
80
$472,203,604
$534,772
100
33
%
%
948
471
50
$233,832,725
$496,460
98
37
%
%
16
87
102
8
-12
%
%
%
%
%
Page 1 of 8

March 2021
Current Month
This Year % Change
Last Year
Year To Date
This Year % Change
Last Year
Row/Townhouse
Units Listed 157
Units Sold 140
Sell/List Ratio 89
Price Ratio 102
Days To Sell 24
%
%
101
78
77
$46,395,987
$594,820
99
29
193
%
%
55
79
106
15
-19
-41
%
%
%
%
%
%
390
307
79
$207,444,696
$675,716
102
29
%
%
341
206
60
$123,362,754
$598,848
99
47
%
%
14
49
68
13
-38
%
%
%
%
%
Half Duplex (Up and Down)
Units Listed 4
Units Sold 2
Sell/List Ratio 50
Price Ratio 105
Days To Sell 12
%
%
1
0
0
$0
2
%
%
300
0
%
%
%
%
%
%
6
4
67
$4,573,900
$1,143,475
101
17
%
%
2
1
50
$321,000
$321,000
94
64
%
%
200
300
1325
256
-74
%
%
%
%
%
Half Duplex (Side by Side)
Units Listed 37
Units Sold 31
Sell/List Ratio 84
Price Ratio 105
Days To Sell 17
%
%
13
8
62
$5,136,000
$642,000
99
17
15
%
%
185
288
439
39
-2
47
%
%
%
%
%
%
85
72
85
$54,363,755
$755,052
104
25
%
%
27
13
48
$8,400,000
$646,154
99
30
%
%
215
454
547
17
-17
%
%
%
%
%
Half Duplex (Front and Back)
Units Listed 7
Units Sold 1
Sell/List Ratio 14
Price Ratio 105
Days To Sell 20
%
%
0
0
$0
2
%
%
200
%
%
%
%
%
%
12
7
58
$6,112,350
$873,193
100
22
%
%
4
4
100
$2,525,400
$631,350
99
42
%
%
200
75
142
38
-48
%
%
%
%
%
Page 2 of 8

March 2021
Current Month
This Year % Change
Last Year
Year To Date
This Year % Change
Last Year
Recreational
Units Listed 2
Units Sold 1
Sell/List Ratio 50
Sales Dollars $39,000
Price Ratio 98
Days To Sell 257
%
%
3
0
0
$0
15
%
%
-33
-47
%
%
%
%
%
%
7
8
114
$1,152,000
$144,000
96
455
%
%
6
2
33
$98,500
$49,250
90
251
%
%
17
300
1070
192
81
%
%
%
%
%
Manufactured Home
Units Listed 31
Units Sold 19
Sell/List Ratio 61
Price Ratio 102
Days To Sell 37
%
%
18
15
83
$2,912,425
$194,162
95
71
32
%
%
72
27
270
192
-48
-13
%
%
%
%
%
%
61
46
75
$19,985,701
$434,472
99
47
%
%
53
35
66
$6,464,225
$184,692
95
69
%
%
15
31
209
135
-31
%
%
%
%
%
Residential Lots
Units Listed 26
Units Sold 24
Sell/List Ratio 92
Price Ratio 102
Days To Sell 87
%
%
20
13
65
$8,458,900
$650,685
101
103
122
%
%
30
85
38
-25
-16
-65
%
%
%
%
%
%
70
80
114
$36,649,195
$458,115
99
116
%
%
78
40
51
$19,439,374
$485,984
101
155
%
%
-10
100
89
-6
-26
%
%
%
%
%
Residential Lots - Waterfront
Units Listed 0
Units Sold 5
Sell/List Ratio
Price Ratio 95
Days To Sell 21
%
%
8
0
0
$0
34
%
%
-100
-76
%
%
%
%
%
%
11
16
145
$8,354,795
$522,175
97
218
%
%
23
2
9
$1,603,125
$801,563
89
500
%
%
-52
700
421
-35
-56
%
%
%
%
%
Page 3 of 8

March 2021
Current Month
This Year % Change
Last Year
Year To Date
This Year % Change
Last Year
Residential Acreage
Units Listed 12
Units Sold 8
Sell/List Ratio 67
Price Ratio 100
Days To Sell 101
%
%
13
7
54
$2,355,500
$336,500
95
122
79
%
%
-8
14
153
121
-18
-56
%
%
%
%
%
%
33
29
88
$16,951,780
$584,544
98
105
%
%
45
16
36
$10,594,500
$662,156
94
125
%
%
-27
81
60
-12
-16
%
%
%
%
%
Residential Acreage - Waterfront
Units Listed 3
Units Sold 9
Sell/List Ratio 300
Price Ratio 94
Days To Sell 291
%
%
6
1
17
$3,500,082
$3,500,082
83
312
26
%
%
-50
800
112
-76
-7
-58
%
%
%
%
%
%
8
15
188
$11,170,000
$744,667
95
264
%
%
12
5
42
$5,269,082
$1,053,816
87
138
%
%
-33
200
112
-29
91
%
%
%
%
%
Revenue - Duplex/Triplex
Units Listed 15
Units Sold 9
Sell/List Ratio 60
Price Ratio 104
Days To Sell 12
%
%
4
6
150
$5,886,950
$981,158
95
22
5
%
%
275
50
72
15
-44
100
%
%
%
%
%
%
30
15
50
$17,735,671
$1,182,378
102
17
%
%
15
11
73
$10,557,950
$959,814
97
39
%
%
100
36
68
23
-56
%
%
%
%
%
Revenue - Multi Units
Units Listed 9
Units Sold 6
Sell/List Ratio 67
Price Ratio 92
Days To Sell 34
%
%
4
0
0
$0
11
%
%
125
55
%
%
%
%
%
%
20
12
60
$27,169,500
$2,264,125
96
53
%
%
8
0
0
$0
%
%
150 %
%
%
%
%
Page 4 of 8

March 2021
Current Month
This Year % Change
Last Year
Year To Date
This Year % Change
Last Year
Revenue - Apartment Block
Units Listed 0
Units Sold 0
Sell/List Ratio
Sales Dollars $0
Average Price / Unit
Price Ratio
Days To Sell
%
%
0
0
$0
5
%
%
-100
%
%
%
%
%
%
0
0
$0
%
%
4
1
25
$5,600,000
$5,600,000
95
114
%
%
-100
-100
-100
%
%
%
%
%
Revenue - Commercial
Units Listed 5
Units Sold 3
Sell/List Ratio 60
Price Ratio 97
Days To Sell 224
%
%
8
4
50
$3,621,000
$905,250
94
119
40
%
%
-38
-25
-1
31
88
-20
%
%
%
%
%
%
15
5
33
$8,082,756
$1,616,551
99
152
%
%
20
7
35
$5,525,900
$789,414
95
101
%
%
-25
-29
46
105
51
%
%
%
%
%
Revenue - Industrial
Units Listed 1
Units Sold 0
Sell/List Ratio
Sales Dollars $0
Price Ratio
Days To Sell
%
%
0
0
$0
1
%
%
800
%
%
%
%
%
%
10
6
60
$7,886,668
$1,314,445
97
47
%
%
1
0
0
$0
%
%
900 %
%
%
%
%
Business with Land Building
Units Listed 0
Units Sold 0
Sell/List Ratio
Sales Dollars $0
Price Ratio
Days To Sell
%
%
6
2
33
$496,961
$248,480
104
46
33
%
%
-100
-100
-100
-88
%
%
%
%
%
%
2
0
0
$0
%
%
24
7
29
$9,977,961
$1,425,423
90
198
%
%
-92
-100
-100
%
%
%
%
%
Page 5 of 8

March 2021
Current Month
This Year % Change
Last Year
Year To Date
This Year % Change
Last Year
Business Only
Units Listed 9
Units Sold 2
Sell/List Ratio 22
Sales Dollars $840,000
Price Ratio 93
Days To Sell 134
%
%
13
4
31
$685,000
$171,250
90
102
64
%
%
-31
-50
23
145
31
-45
%
%
%
%
%
%
24
5
21
$1,331,500
$266,300
89
165
%
%
42
9
21
$1,001,000
$111,222
87
107
%
%
-43
-44
33
139
55
%
%
%
%
%
Motel/Hotel
Units Listed 0
Units Sold 0
Sell/List Ratio
Sales Dollars $0
Price Ratio
Days To Sell
%
%
1
0
0
$0
4
%
%
-100
-100
%
%
%
%
%
%
0
0
$0
%
%
2
0
0
$0
%
%
-100 %
%
%
%
%
Lease - Office
Units Listed 10
Units Sold 5
Sell/List Ratio 50
Sales Dollars $95
Average Price / Unit $19
Price Ratio 98
Days To Sell 139
%
%
0
0
$0
26
%
%
196
%
%
%
%
%
%
35
7
20
$1,869
$267
96
115
%
%
10
2
20
$40
$20
402
%
%
250
250
4573
1235
-71
%
%
%
%
%
Lease - Retail
Units Listed 7
Units Sold 1
Sell/List Ratio 14
Sales Dollars $22
Average Price / Unit $22
Price Ratio 92
Days To Sell 141
%
%
4
1
25
$42
$42
29
25
%
%
75
0
-48
-48
386
64
%
%
%
%
%
%
23
8
35
$8,412
$1,051
92
145
%
%
13
5
38
$101
$20
286
%
%
77
60
8242
5114
-49
%
%
%
%
%
Page 6 of 8

Victoria Real Estate Board March 2021 Statistics Package

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Victoria Real Estate Board March 2021 Statistics Package