SlideShare a Scribd company logo
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
November 1, 2022
A slight uptick in sales and inventory, but Victoria real estate market still requires commitment to homes
A total of 480 properties sold in the Victoria Real Estate Board region this October, 35.6 per cent fewer than the
745 properties sold in October 2021 but a 17.1 per cent increase from September 2022. Sales of condominiums
were down 39 per cent from October 2021 with 152 units sold. Sales of single family homes decreased 32.2 per
cent from October 2021 with 230 sold.
“Inventory has remained stable this month and for the first time since May 2022, we see a slight increase in the
month over month sales,” says Victoria Real Estate Board President Karen Dinnie-Smyth. “We noted last month
that the number of sales for September did not necessarily reflect the on-the-ground activity in the marketplace.
October sales have shown what the industry has been experiencing, an increase in activity, more sales and well-
priced homes receiving plenty of attention – some receiving multiple offers. If you are considering selling a
property, the continually evolving market conditions this month reinforce the need for up-to-date analysis of how
to price your home during this type of market. With many micro-markets within the Greater Victoria area
conversations with your local REALTOR® on how the housing market is performing in your specific area will be
crucial to your success.”
There were 2,192 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of
October 2022, a decrease of 4.7 per cent compared to the previous month of September but a 111.6 per cent
increase from the 1,036 active listings for sale at the end of October 2021.
“With new mayors and councillors heading to work in several of our municipalities, we hope to see strong
commitments to positive ways to manage the current and future housing needs of our communities high on
council agendas,” adds President Dinnie-Smyth. “The future cost of housing is at stake. The pressure on pricing
and in the market overall will not resolve until we see material improvements in the number and types of
properties available in the Greater Victoria area. Rentals, townhouses, duplexes, triplexes and beyond are all
needed to help ensure that we do not face another cycle of rapid price increases due to lack of inventory in the
future. We hope that all municipalities will be looking at gentle density improvements that will ensure more
homes for more people in their community planning.”
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in
October 2021 was $1,216,900. The benchmark value for the same home in October 2022 increased by 10.2 per
cent to $1,341,400 but was down 1.7 per cent from September's value of $1,364,200. The MLS® HPI
benchmark value for a condominium in the Victoria Core area in October 2021 was $524,500, while the
benchmark value for the same condominium in October 2022 increased by 14.9 per cent to $602,700, down by
2.4 per cent from the September value of $617,400.
About the Victoria Real Estate Board – Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards
and innovative programs to enhance the professionalism of Realtors. The Victoria Real Estate Board 1,595 local Realtors. If you are
thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing
market.
PRESIDENT
Karen Dinnie-Smyth
PRESIDENT ELECT
Graden Sol
TREASURER
Jackie Ngai
PAST PRESIDENT
David Langlois
DIRECTORS
Sheila Aujla
Bev Berger
Fergus Kyne
Laurie Lidstone
Dirk VanderWal
EXECUTIVE OFFICER
David Corey
Sales by Property Type
Single Family Greater Victoria
Single Family Other Areas
Single Family Total All Areas
Condo Apartment
Row/Townhouse
Manufactured Home
Total Residential
Total Sales
Active Listings
Units Median$
Average$
LY%
LM% LY%
LM% LY%
LM% Units Median$
Average$ Units Median$
Average$
October 2022
222
152
59
19
460
230
480
8
2,192
213
126
40
8
395
221
410
8
2,300
330
249
90
17
695
339
745
9
1,036
$1,238,949
$614,769
$823,515
$354,447
$1,226,455
$879,740
$1,060,000
$539,500
$755,000
$337,000
$1,052,000
$775,205
$1,223,314
$628,356
$786,835
$387,500
$1,213,743
$958,903
$1,070,000
$545,000
$737,500
$379,500
$1,062,000
$912,000
$1,327,228
$620,859
$855,894
$404,859
$1,311,271
$726,200
$1,211,000
$545,895
$797,895
$275,000
$1,202,500
$999,500
4.2%
20.6%
47.5%
137.5%
16.5%
4.1%
17.1%
0.0%
-4.7%
-32.7%
-39.0%
-34.4%
11.8%
-33.8%
-32.2%
-35.6%
-11.1%
111.6%
1.3%
-2.2%
4.7%
-8.5%
1.0%
-8.3%
-6.7%
-1.0%
-3.8%
-12.5%
-6.5%
21.1%
-0.9%
-1.0%
2.4%
-11.2%
-0.9%
-15.0%
-12.5%
-1.2%
-5.4%
22.5%
-12.5%
-22.4%
September 2022 October 2021
Legend
Units: net number of listings sold
LM%: percentage change since Last Month
LY%: percentage change since This Month Last Year
Average$: average selling price
Median$: median selling price
Total Residential: includes sales of residential property types
Total Sales: includes sales of all property types
Active Listings: total listings of all types on the market at midnight on the last day of the month
This Month Last Month
Produced: 01-Nov-2022
October 2022
Previous Periods Comparison
This Month Last Year
Page 1 of 1
Victoria Real Estate Board Multiple Listing Service ®
October 2022
Statistics Package for Media
Victoria Real Estate Board October 2022 Statistics
Previous Periods Comparison of Unit Sales, Average Prices and Median Prices
Previous Periods Comparison of MLS® HPI Benchmark Prices and MLS® HPI Index Values
6DOHVWR$FWLYH/LVWLQJV5DWLR
The ratio of counts of total residential sales over total active residential listings for the last 25 months
2FWREHU
Produced: 01-Nov-2022












2FW
1RY
'HF
-DQ
)HE
0DU
$SU
0D
-XQ
-XO
$XJ
6HS
2FW
1RY
'HF
-DQ
)HE
0DU
$SU
0D
-XQ
-XO
$XJ
6HS
2FW
7KH6DOHVWR$FWLYH/LVWLQJV5DWLR
7KLV FKDUWWUDFNVWKHUDWLRRIWRWDOUHVLGHQWLDOVDOHVRYHUWRWDODFWLYHUHVLGHQWLDOOLVWLQJVDWPRQWKHQGIRU
HDFKRIWKHODVWPRQWKV
7KHDFWLYHOLVWLQJFRXQWDQGWKHVDOHVFRXQWFDQEHYLHZHGDVLQGLFDWRUVRIKRXVLQJVXSSODQGGHPDQG
UHVSHFWLYHO2EVHUYLQJWKHUDWLREHWZHHQWKHPFDQWKXVKHOSLQGLFDWHDEXHUV PDUNHWZKHUHWKHUH
LVVXVWDLQHGGRZQZDUGSUHVVXUHRQSULFHVDQGDVHOOHUV PDUNHWZKHUHWKHUHLVVXVWDLQHGXSZDUG
SUHVVXUHRQSULFHV
%DVHGRQDUHJUHVVLRQDQDOVLVSHUIRUPHGEWKH(FRQRPLFV'HSDUWPHQWRIWKH%5HDO(VWDWH
$VVRFLDWLRQLQHDFKPDUNHWDUHDRIWKHSURYLQFHWKH6DOHVWR$FWLYH/LVWLQJV5DWLRIRU9LFWRULDFDQEH
LQWHUSUHWHGDVIROORZV
 EHORZWKHUHLVGRZQZDUGSUHVVXUHRQSULFHV EXHUV PDUNHW
 DERYHWKHUHLVXSZDUGSUHVVXUHRQSULFHV VHOOHUV PDUNHW
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 October 2022 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 fifteen 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 October 2022 Statistics
MLS® HPI benchmark and value - Condominium / Apartments
Victoria Real Estate Board October 2022 Statistics

More Related Content

Similar to VREB Statistics October 2022.pdf

VREB Feb 21 Stats Package
VREB Feb 21 Stats PackageVREB Feb 21 Stats Package
VREB Feb 21 Stats Package
Vicky Aulakh
 
Victoria Real Estate Board Statistics January 2021
Victoria Real Estate Board Statistics January 2021Victoria Real Estate Board Statistics January 2021
Victoria Real Estate Board Statistics January 2021
Vicky Aulakh
 
Victoria Real Estate Board Statistics - November 2021
Victoria Real Estate Board Statistics - November 2021Victoria Real Estate Board Statistics - November 2021
Victoria Real Estate Board Statistics - November 2021
VickyAulakh1
 
VREB November 2022 Statistics
VREB November 2022 Statistics VREB November 2022 Statistics
VREB November 2022 Statistics
VickyAulakh1
 
Victoria Real Estate Board July 2021 Statistics
Victoria Real Estate Board July 2021 StatisticsVictoria Real Estate Board July 2021 Statistics
Victoria Real Estate Board July 2021 Statistics
Vicky Aulakh
 
Victoria Real Estate Board Monthly Statistics Package September 2023.pdf
Victoria Real Estate Board Monthly Statistics Package September 2023.pdfVictoria Real Estate Board Monthly Statistics Package September 2023.pdf
Victoria Real Estate Board Monthly Statistics Package September 2023.pdf
VickyAulakh1
 
December 2020 Victoria Real Estate Board Statistics
December 2020 Victoria Real Estate Board StatisticsDecember 2020 Victoria Real Estate Board Statistics
December 2020 Victoria Real Estate Board Statistics
Vicky Aulakh
 
VREB Statistics December 2022
VREB Statistics December 2022VREB Statistics December 2022
VREB Statistics December 2022
VickyAulakh1
 
VREB April 2021 Statistics Package
VREB April 2021 Statistics PackageVREB April 2021 Statistics Package
VREB April 2021 Statistics Package
Vicky Aulakh
 
Victoria Real Estate Board April 2021 Statistics
Victoria Real Estate Board April 2021 StatisticsVictoria Real Estate Board April 2021 Statistics
Victoria Real Estate Board April 2021 Statistics
Vicky Aulakh
 
Victoria Real Estate Board March 2021 Statistics Package
Victoria Real Estate Board March 2021 Statistics PackageVictoria Real Estate Board March 2021 Statistics Package
Victoria Real Estate Board March 2021 Statistics Package
Vicky Aulakh
 
Victoria Real Estate Board September 2022 Statistics
Victoria Real Estate Board September 2022 Statistics Victoria Real Estate Board September 2022 Statistics
Victoria Real Estate Board September 2022 Statistics
VickyAulakh1
 
Victoria Real Estate Board June 2021 Statistics
Victoria Real Estate Board June 2021 StatisticsVictoria Real Estate Board June 2021 Statistics
Victoria Real Estate Board June 2021 Statistics
Vicky Aulakh
 
VREB October 2020 Statistics Package
VREB October 2020 Statistics PackageVREB October 2020 Statistics Package
VREB October 2020 Statistics Package
Vicky Aulakh
 
Victoria Real Estate Board February 2022
Victoria Real Estate Board February 2022Victoria Real Estate Board February 2022
Victoria Real Estate Board February 2022
Vicky Aulakh
 
VREB July 2020 Statistics
VREB July 2020 StatisticsVREB July 2020 Statistics
VREB July 2020 Statistics
Vicky Aulakh
 
Victoria Real Estate Board Statistics January 2020
Victoria Real Estate Board Statistics January 2020Victoria Real Estate Board Statistics January 2020
Victoria Real Estate Board Statistics January 2020
Vicky Aulakh
 
Victoria Real Estate Board November 2020 Statistics Package
Victoria Real Estate Board November 2020 Statistics PackageVictoria Real Estate Board November 2020 Statistics Package
Victoria Real Estate Board November 2020 Statistics Package
Vicky Aulakh
 
VREB May 2022 Statistics Package.pdf
VREB May 2022 Statistics Package.pdfVREB May 2022 Statistics Package.pdf
VREB May 2022 Statistics Package.pdf
Vicky Aulakh
 
VREB January 2023 Statistics with charts and graphs
VREB January 2023 Statistics with charts and graphsVREB January 2023 Statistics with charts and graphs
VREB January 2023 Statistics with charts and graphs
VickyAulakh1
 

Similar to VREB Statistics October 2022.pdf (20)

VREB Feb 21 Stats Package
VREB Feb 21 Stats PackageVREB Feb 21 Stats Package
VREB Feb 21 Stats Package
 
Victoria Real Estate Board Statistics January 2021
Victoria Real Estate Board Statistics January 2021Victoria Real Estate Board Statistics January 2021
Victoria Real Estate Board Statistics January 2021
 
Victoria Real Estate Board Statistics - November 2021
Victoria Real Estate Board Statistics - November 2021Victoria Real Estate Board Statistics - November 2021
Victoria Real Estate Board Statistics - November 2021
 
VREB November 2022 Statistics
VREB November 2022 Statistics VREB November 2022 Statistics
VREB November 2022 Statistics
 
Victoria Real Estate Board July 2021 Statistics
Victoria Real Estate Board July 2021 StatisticsVictoria Real Estate Board July 2021 Statistics
Victoria Real Estate Board July 2021 Statistics
 
Victoria Real Estate Board Monthly Statistics Package September 2023.pdf
Victoria Real Estate Board Monthly Statistics Package September 2023.pdfVictoria Real Estate Board Monthly Statistics Package September 2023.pdf
Victoria Real Estate Board Monthly Statistics Package September 2023.pdf
 
December 2020 Victoria Real Estate Board Statistics
December 2020 Victoria Real Estate Board StatisticsDecember 2020 Victoria Real Estate Board Statistics
December 2020 Victoria Real Estate Board Statistics
 
VREB Statistics December 2022
VREB Statistics December 2022VREB Statistics December 2022
VREB Statistics December 2022
 
VREB April 2021 Statistics Package
VREB April 2021 Statistics PackageVREB April 2021 Statistics Package
VREB April 2021 Statistics Package
 
Victoria Real Estate Board April 2021 Statistics
Victoria Real Estate Board April 2021 StatisticsVictoria Real Estate Board April 2021 Statistics
Victoria Real Estate Board April 2021 Statistics
 
Victoria Real Estate Board March 2021 Statistics Package
Victoria Real Estate Board March 2021 Statistics PackageVictoria Real Estate Board March 2021 Statistics Package
Victoria Real Estate Board March 2021 Statistics Package
 
Victoria Real Estate Board September 2022 Statistics
Victoria Real Estate Board September 2022 Statistics Victoria Real Estate Board September 2022 Statistics
Victoria Real Estate Board September 2022 Statistics
 
Victoria Real Estate Board June 2021 Statistics
Victoria Real Estate Board June 2021 StatisticsVictoria Real Estate Board June 2021 Statistics
Victoria Real Estate Board June 2021 Statistics
 
VREB October 2020 Statistics Package
VREB October 2020 Statistics PackageVREB October 2020 Statistics Package
VREB October 2020 Statistics Package
 
Victoria Real Estate Board February 2022
Victoria Real Estate Board February 2022Victoria Real Estate Board February 2022
Victoria Real Estate Board February 2022
 
VREB July 2020 Statistics
VREB July 2020 StatisticsVREB July 2020 Statistics
VREB July 2020 Statistics
 
Victoria Real Estate Board Statistics January 2020
Victoria Real Estate Board Statistics January 2020Victoria Real Estate Board Statistics January 2020
Victoria Real Estate Board Statistics January 2020
 
Victoria Real Estate Board November 2020 Statistics Package
Victoria Real Estate Board November 2020 Statistics PackageVictoria Real Estate Board November 2020 Statistics Package
Victoria Real Estate Board November 2020 Statistics Package
 
VREB May 2022 Statistics Package.pdf
VREB May 2022 Statistics Package.pdfVREB May 2022 Statistics Package.pdf
VREB May 2022 Statistics Package.pdf
 
VREB January 2023 Statistics with charts and graphs
VREB January 2023 Statistics with charts and graphsVREB January 2023 Statistics with charts and graphs
VREB January 2023 Statistics with charts and graphs
 

More from VickyAulakh1

HollandRow_17x11_Insert_Floorplan_Feature sheet.pdf
HollandRow_17x11_Insert_Floorplan_Feature sheet.pdfHollandRow_17x11_Insert_Floorplan_Feature sheet.pdf
HollandRow_17x11_Insert_Floorplan_Feature sheet.pdf
VickyAulakh1
 
Victory by Maskeen Group Surrey Floor plans June 2024 PDF
Victory by Maskeen Group Surrey Floor plans June 2024 PDFVictory by Maskeen Group Surrey Floor plans June 2024 PDF
Victory by Maskeen Group Surrey Floor plans June 2024 PDF
VickyAulakh1
 
One20 North Vancouver Floor Plans by Three Shores Development.
One20 North Vancouver Floor Plans by Three Shores Development.One20 North Vancouver Floor Plans by Three Shores Development.
One20 North Vancouver Floor Plans by Three Shores Development.
VickyAulakh1
 
Bridge & Elliot Ladner Floor Plans May 2024.pdf
Bridge & Elliot Ladner Floor Plans May 2024.pdfBridge & Elliot Ladner Floor Plans May 2024.pdf
Bridge & Elliot Ladner Floor Plans May 2024.pdf
VickyAulakh1
 
Parksville 96 Surrey Floor Plans May 2024
Parksville 96 Surrey Floor Plans May 2024Parksville 96 Surrey Floor Plans May 2024
Parksville 96 Surrey Floor Plans May 2024
VickyAulakh1
 
Greater Vancouver Realtors Statistics Package April 2024
Greater Vancouver Realtors Statistics Package April 2024Greater Vancouver Realtors Statistics Package April 2024
Greater Vancouver Realtors Statistics Package April 2024
VickyAulakh1
 
NIDO by Wanson Group Floor Plan Set 2024
NIDO by Wanson Group Floor Plan Set 2024NIDO by Wanson Group Floor Plan Set 2024
NIDO by Wanson Group Floor Plan Set 2024
VickyAulakh1
 
Portico by Wanson Group Floor Plans 2024
Portico by Wanson Group Floor Plans 2024Portico by Wanson Group Floor Plans 2024
Portico by Wanson Group Floor Plans 2024
VickyAulakh1
 
Portico By Wanson Group Floor Plans 2024
Portico By Wanson Group Floor Plans 2024Portico By Wanson Group Floor Plans 2024
Portico By Wanson Group Floor Plans 2024
VickyAulakh1
 
The Trails North Vancouver Floor Plans Feb 25, 2024
The Trails North Vancouver Floor Plans Feb 25, 2024The Trails North Vancouver Floor Plans Feb 25, 2024
The Trails North Vancouver Floor Plans Feb 25, 2024
VickyAulakh1
 
AMAYA LIVING Surrey FLOOR PLANS by Panorama West Group
AMAYA LIVING Surrey FLOOR PLANS by Panorama West GroupAMAYA LIVING Surrey FLOOR PLANS by Panorama West Group
AMAYA LIVING Surrey FLOOR PLANS by Panorama West Group
VickyAulakh1
 
Willow Walk Oakridge Townhome & Garden Flat Floor Plans
Willow Walk Oakridge Townhome & Garden Flat Floor PlansWillow Walk Oakridge Townhome & Garden Flat Floor Plans
Willow Walk Oakridge Townhome & Garden Flat Floor Plans
VickyAulakh1
 
JUNO Surrey By Streetside Developments Floor Plans
JUNO Surrey By Streetside Developments Floor PlansJUNO Surrey By Streetside Developments Floor Plans
JUNO Surrey By Streetside Developments Floor Plans
VickyAulakh1
 
SKA+Building+2+Floorplan+-+Web+-+Current.pdf
SKA+Building+2+Floorplan+-+Web+-+Current.pdfSKA+Building+2+Floorplan+-+Web+-+Current.pdf
SKA+Building+2+Floorplan+-+Web+-+Current.pdf
VickyAulakh1
 
Nolita-Floorplans.pdf
Nolita-Floorplans.pdfNolita-Floorplans.pdf
Nolita-Floorplans.pdf
VickyAulakh1
 
Adore 49 Floor Plans.pdf
Adore 49 Floor Plans.pdfAdore 49 Floor Plans.pdf
Adore 49 Floor Plans.pdf
VickyAulakh1
 
Citizen Burnaby Floor Plans
Citizen Burnaby Floor PlansCitizen Burnaby Floor Plans
Citizen Burnaby Floor Plans
VickyAulakh1
 
VREB May 2023 Statistics Package.pdf
VREB May 2023 Statistics Package.pdfVREB May 2023 Statistics Package.pdf
VREB May 2023 Statistics Package.pdf
VickyAulakh1
 
April 2023 Okanagan Statistics Graphs.pdf
April 2023 Okanagan Statistics Graphs.pdfApril 2023 Okanagan Statistics Graphs.pdf
April 2023 Okanagan Statistics Graphs.pdf
VickyAulakh1
 
FVREB April 2023 Statistics Package.pdf
FVREB April 2023 Statistics Package.pdfFVREB April 2023 Statistics Package.pdf
FVREB April 2023 Statistics Package.pdf
VickyAulakh1
 

More from VickyAulakh1 (20)

HollandRow_17x11_Insert_Floorplan_Feature sheet.pdf
HollandRow_17x11_Insert_Floorplan_Feature sheet.pdfHollandRow_17x11_Insert_Floorplan_Feature sheet.pdf
HollandRow_17x11_Insert_Floorplan_Feature sheet.pdf
 
Victory by Maskeen Group Surrey Floor plans June 2024 PDF
Victory by Maskeen Group Surrey Floor plans June 2024 PDFVictory by Maskeen Group Surrey Floor plans June 2024 PDF
Victory by Maskeen Group Surrey Floor plans June 2024 PDF
 
One20 North Vancouver Floor Plans by Three Shores Development.
One20 North Vancouver Floor Plans by Three Shores Development.One20 North Vancouver Floor Plans by Three Shores Development.
One20 North Vancouver Floor Plans by Three Shores Development.
 
Bridge & Elliot Ladner Floor Plans May 2024.pdf
Bridge & Elliot Ladner Floor Plans May 2024.pdfBridge & Elliot Ladner Floor Plans May 2024.pdf
Bridge & Elliot Ladner Floor Plans May 2024.pdf
 
Parksville 96 Surrey Floor Plans May 2024
Parksville 96 Surrey Floor Plans May 2024Parksville 96 Surrey Floor Plans May 2024
Parksville 96 Surrey Floor Plans May 2024
 
Greater Vancouver Realtors Statistics Package April 2024
Greater Vancouver Realtors Statistics Package April 2024Greater Vancouver Realtors Statistics Package April 2024
Greater Vancouver Realtors Statistics Package April 2024
 
NIDO by Wanson Group Floor Plan Set 2024
NIDO by Wanson Group Floor Plan Set 2024NIDO by Wanson Group Floor Plan Set 2024
NIDO by Wanson Group Floor Plan Set 2024
 
Portico by Wanson Group Floor Plans 2024
Portico by Wanson Group Floor Plans 2024Portico by Wanson Group Floor Plans 2024
Portico by Wanson Group Floor Plans 2024
 
Portico By Wanson Group Floor Plans 2024
Portico By Wanson Group Floor Plans 2024Portico By Wanson Group Floor Plans 2024
Portico By Wanson Group Floor Plans 2024
 
The Trails North Vancouver Floor Plans Feb 25, 2024
The Trails North Vancouver Floor Plans Feb 25, 2024The Trails North Vancouver Floor Plans Feb 25, 2024
The Trails North Vancouver Floor Plans Feb 25, 2024
 
AMAYA LIVING Surrey FLOOR PLANS by Panorama West Group
AMAYA LIVING Surrey FLOOR PLANS by Panorama West GroupAMAYA LIVING Surrey FLOOR PLANS by Panorama West Group
AMAYA LIVING Surrey FLOOR PLANS by Panorama West Group
 
Willow Walk Oakridge Townhome & Garden Flat Floor Plans
Willow Walk Oakridge Townhome & Garden Flat Floor PlansWillow Walk Oakridge Townhome & Garden Flat Floor Plans
Willow Walk Oakridge Townhome & Garden Flat Floor Plans
 
JUNO Surrey By Streetside Developments Floor Plans
JUNO Surrey By Streetside Developments Floor PlansJUNO Surrey By Streetside Developments Floor Plans
JUNO Surrey By Streetside Developments Floor Plans
 
SKA+Building+2+Floorplan+-+Web+-+Current.pdf
SKA+Building+2+Floorplan+-+Web+-+Current.pdfSKA+Building+2+Floorplan+-+Web+-+Current.pdf
SKA+Building+2+Floorplan+-+Web+-+Current.pdf
 
Nolita-Floorplans.pdf
Nolita-Floorplans.pdfNolita-Floorplans.pdf
Nolita-Floorplans.pdf
 
Adore 49 Floor Plans.pdf
Adore 49 Floor Plans.pdfAdore 49 Floor Plans.pdf
Adore 49 Floor Plans.pdf
 
Citizen Burnaby Floor Plans
Citizen Burnaby Floor PlansCitizen Burnaby Floor Plans
Citizen Burnaby Floor Plans
 
VREB May 2023 Statistics Package.pdf
VREB May 2023 Statistics Package.pdfVREB May 2023 Statistics Package.pdf
VREB May 2023 Statistics Package.pdf
 
April 2023 Okanagan Statistics Graphs.pdf
April 2023 Okanagan Statistics Graphs.pdfApril 2023 Okanagan Statistics Graphs.pdf
April 2023 Okanagan Statistics Graphs.pdf
 
FVREB April 2023 Statistics Package.pdf
FVREB April 2023 Statistics Package.pdfFVREB April 2023 Statistics Package.pdf
FVREB April 2023 Statistics Package.pdf
 

Recently uploaded

Deed 3754 S Honeysuckle Mesa AZ 85212 owner Shawn Freeman - Pamela Brown Nota...
Deed 3754 S Honeysuckle Mesa AZ 85212 owner Shawn Freeman - Pamela Brown Nota...Deed 3754 S Honeysuckle Mesa AZ 85212 owner Shawn Freeman - Pamela Brown Nota...
Deed 3754 S Honeysuckle Mesa AZ 85212 owner Shawn Freeman - Pamela Brown Nota...
olgashriki
 
AVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing Turkey
AVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing TurkeyAVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing Turkey
AVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing Turkey
Listing Turkey
 
Gurgaon Industrial Business Association.pdf
Gurgaon Industrial Business Association.pdfGurgaon Industrial Business Association.pdf
Gurgaon Industrial Business Association.pdf
jwhrsngh23
 
Things to Consider When Selling Your House - Summer 2024 Edition
Things to Consider When Selling Your House - Summer 2024 EditionThings to Consider When Selling Your House - Summer 2024 Edition
Things to Consider When Selling Your House - Summer 2024 Edition
Tom Blefko
 
Addis Bleaching Mixed use Apartment- Documentation 6.pdf
Addis Bleaching Mixed use Apartment- Documentation 6.pdfAddis Bleaching Mixed use Apartment- Documentation 6.pdf
Addis Bleaching Mixed use Apartment- Documentation 6.pdf
hawifitumaed
 
Serviced Apartment Ho Chi Minh For Rental
Serviced Apartment Ho Chi Minh For RentalServiced Apartment Ho Chi Minh For Rental
Serviced Apartment Ho Chi Minh For Rental
GVRenting
 
BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...
BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...
BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...
knox groups real estate
 
制作(ucr毕业证书)加州大学河滨分校毕业证学历学位证书原版一模一样
制作(ucr毕业证书)加州大学河滨分校毕业证学历学位证书原版一模一样制作(ucr毕业证书)加州大学河滨分校毕业证学历学位证书原版一模一样
制作(ucr毕业证书)加州大学河滨分校毕业证学历学位证书原版一模一样
z5h13yqc
 
Recent Trends Fueling The Surge in Farmhouse Demand in India
Recent Trends Fueling The Surge in Farmhouse Demand in IndiaRecent Trends Fueling The Surge in Farmhouse Demand in India
Recent Trends Fueling The Surge in Farmhouse Demand in India
Farmland Bazaar
 
Listing Turkey - Yeni Eyupevleri Istanbul
Listing Turkey - Yeni Eyupevleri IstanbulListing Turkey - Yeni Eyupevleri Istanbul
Listing Turkey - Yeni Eyupevleri Istanbul
Listing Turkey
 
SVN Live 6.10.24 Weekly Property Broadcast
SVN Live 6.10.24 Weekly Property BroadcastSVN Live 6.10.24 Weekly Property Broadcast
SVN Live 6.10.24 Weekly Property Broadcast
SVN International Corp.
 
原版制作(Greenwich毕业证书)格林威治大学毕业证PDF成绩单一模一样
原版制作(Greenwich毕业证书)格林威治大学毕业证PDF成绩单一模一样原版制作(Greenwich毕业证书)格林威治大学毕业证PDF成绩单一模一样
原版制作(Greenwich毕业证书)格林威治大学毕业证PDF成绩单一模一样
a7xjm8n4
 
G+10 apartment 1- Sustainable apartment building.pdf
G+10 apartment 1- Sustainable apartment building.pdfG+10 apartment 1- Sustainable apartment building.pdf
G+10 apartment 1- Sustainable apartment building.pdf
hawifitumaed
 

Recently uploaded (13)

Deed 3754 S Honeysuckle Mesa AZ 85212 owner Shawn Freeman - Pamela Brown Nota...
Deed 3754 S Honeysuckle Mesa AZ 85212 owner Shawn Freeman - Pamela Brown Nota...Deed 3754 S Honeysuckle Mesa AZ 85212 owner Shawn Freeman - Pamela Brown Nota...
Deed 3754 S Honeysuckle Mesa AZ 85212 owner Shawn Freeman - Pamela Brown Nota...
 
AVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing Turkey
AVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing TurkeyAVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing Turkey
AVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing Turkey
 
Gurgaon Industrial Business Association.pdf
Gurgaon Industrial Business Association.pdfGurgaon Industrial Business Association.pdf
Gurgaon Industrial Business Association.pdf
 
Things to Consider When Selling Your House - Summer 2024 Edition
Things to Consider When Selling Your House - Summer 2024 EditionThings to Consider When Selling Your House - Summer 2024 Edition
Things to Consider When Selling Your House - Summer 2024 Edition
 
Addis Bleaching Mixed use Apartment- Documentation 6.pdf
Addis Bleaching Mixed use Apartment- Documentation 6.pdfAddis Bleaching Mixed use Apartment- Documentation 6.pdf
Addis Bleaching Mixed use Apartment- Documentation 6.pdf
 
Serviced Apartment Ho Chi Minh For Rental
Serviced Apartment Ho Chi Minh For RentalServiced Apartment Ho Chi Minh For Rental
Serviced Apartment Ho Chi Minh For Rental
 
BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...
BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...
BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...
 
制作(ucr毕业证书)加州大学河滨分校毕业证学历学位证书原版一模一样
制作(ucr毕业证书)加州大学河滨分校毕业证学历学位证书原版一模一样制作(ucr毕业证书)加州大学河滨分校毕业证学历学位证书原版一模一样
制作(ucr毕业证书)加州大学河滨分校毕业证学历学位证书原版一模一样
 
Recent Trends Fueling The Surge in Farmhouse Demand in India
Recent Trends Fueling The Surge in Farmhouse Demand in IndiaRecent Trends Fueling The Surge in Farmhouse Demand in India
Recent Trends Fueling The Surge in Farmhouse Demand in India
 
Listing Turkey - Yeni Eyupevleri Istanbul
Listing Turkey - Yeni Eyupevleri IstanbulListing Turkey - Yeni Eyupevleri Istanbul
Listing Turkey - Yeni Eyupevleri Istanbul
 
SVN Live 6.10.24 Weekly Property Broadcast
SVN Live 6.10.24 Weekly Property BroadcastSVN Live 6.10.24 Weekly Property Broadcast
SVN Live 6.10.24 Weekly Property Broadcast
 
原版制作(Greenwich毕业证书)格林威治大学毕业证PDF成绩单一模一样
原版制作(Greenwich毕业证书)格林威治大学毕业证PDF成绩单一模一样原版制作(Greenwich毕业证书)格林威治大学毕业证PDF成绩单一模一样
原版制作(Greenwich毕业证书)格林威治大学毕业证PDF成绩单一模一样
 
G+10 apartment 1- Sustainable apartment building.pdf
G+10 apartment 1- Sustainable apartment building.pdfG+10 apartment 1- Sustainable apartment building.pdf
G+10 apartment 1- Sustainable apartment building.pdf
 

VREB Statistics October 2022.pdf

  • 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 November 1, 2022 A slight uptick in sales and inventory, but Victoria real estate market still requires commitment to homes A total of 480 properties sold in the Victoria Real Estate Board region this October, 35.6 per cent fewer than the 745 properties sold in October 2021 but a 17.1 per cent increase from September 2022. Sales of condominiums were down 39 per cent from October 2021 with 152 units sold. Sales of single family homes decreased 32.2 per cent from October 2021 with 230 sold. “Inventory has remained stable this month and for the first time since May 2022, we see a slight increase in the month over month sales,” says Victoria Real Estate Board President Karen Dinnie-Smyth. “We noted last month that the number of sales for September did not necessarily reflect the on-the-ground activity in the marketplace. October sales have shown what the industry has been experiencing, an increase in activity, more sales and well- priced homes receiving plenty of attention – some receiving multiple offers. If you are considering selling a property, the continually evolving market conditions this month reinforce the need for up-to-date analysis of how to price your home during this type of market. With many micro-markets within the Greater Victoria area conversations with your local REALTOR® on how the housing market is performing in your specific area will be crucial to your success.” There were 2,192 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of October 2022, a decrease of 4.7 per cent compared to the previous month of September but a 111.6 per cent increase from the 1,036 active listings for sale at the end of October 2021. “With new mayors and councillors heading to work in several of our municipalities, we hope to see strong commitments to positive ways to manage the current and future housing needs of our communities high on council agendas,” adds President Dinnie-Smyth. “The future cost of housing is at stake. The pressure on pricing and in the market overall will not resolve until we see material improvements in the number and types of properties available in the Greater Victoria area. Rentals, townhouses, duplexes, triplexes and beyond are all needed to help ensure that we do not face another cycle of rapid price increases due to lack of inventory in the future. We hope that all municipalities will be looking at gentle density improvements that will ensure more homes for more people in their community planning.” The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in October 2021 was $1,216,900. The benchmark value for the same home in October 2022 increased by 10.2 per cent to $1,341,400 but was down 1.7 per cent from September's value of $1,364,200. The MLS® HPI benchmark value for a condominium in the Victoria Core area in October 2021 was $524,500, while the benchmark value for the same condominium in October 2022 increased by 14.9 per cent to $602,700, down by 2.4 per cent from the September value of $617,400. About the Victoria Real Estate Board – Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards and innovative programs to enhance the professionalism of Realtors. The Victoria Real Estate Board 1,595 local Realtors. If you are thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing market. PRESIDENT Karen Dinnie-Smyth PRESIDENT ELECT Graden Sol TREASURER Jackie Ngai PAST PRESIDENT David Langlois DIRECTORS Sheila Aujla Bev Berger Fergus Kyne Laurie Lidstone Dirk VanderWal EXECUTIVE OFFICER David Corey
  • 2. Sales by Property Type Single Family Greater Victoria Single Family Other Areas Single Family Total All Areas Condo Apartment Row/Townhouse Manufactured Home Total Residential Total Sales Active Listings Units Median$ Average$ LY% LM% LY% LM% LY% LM% Units Median$ Average$ Units Median$ Average$ October 2022 222 152 59 19 460 230 480 8 2,192 213 126 40 8 395 221 410 8 2,300 330 249 90 17 695 339 745 9 1,036 $1,238,949 $614,769 $823,515 $354,447 $1,226,455 $879,740 $1,060,000 $539,500 $755,000 $337,000 $1,052,000 $775,205 $1,223,314 $628,356 $786,835 $387,500 $1,213,743 $958,903 $1,070,000 $545,000 $737,500 $379,500 $1,062,000 $912,000 $1,327,228 $620,859 $855,894 $404,859 $1,311,271 $726,200 $1,211,000 $545,895 $797,895 $275,000 $1,202,500 $999,500 4.2% 20.6% 47.5% 137.5% 16.5% 4.1% 17.1% 0.0% -4.7% -32.7% -39.0% -34.4% 11.8% -33.8% -32.2% -35.6% -11.1% 111.6% 1.3% -2.2% 4.7% -8.5% 1.0% -8.3% -6.7% -1.0% -3.8% -12.5% -6.5% 21.1% -0.9% -1.0% 2.4% -11.2% -0.9% -15.0% -12.5% -1.2% -5.4% 22.5% -12.5% -22.4% September 2022 October 2021 Legend Units: net number of listings sold LM%: percentage change since Last Month LY%: percentage change since This Month Last Year Average$: average selling price Median$: median selling price Total Residential: includes sales of residential property types Total Sales: includes sales of all property types Active Listings: total listings of all types on the market at midnight on the last day of the month This Month Last Month Produced: 01-Nov-2022 October 2022 Previous Periods Comparison This Month Last Year Page 1 of 1 Victoria Real Estate Board Multiple Listing Service ® October 2022 Statistics Package for Media Victoria Real Estate Board October 2022 Statistics Previous Periods Comparison of Unit Sales, Average Prices and Median Prices Previous Periods Comparison of MLS® HPI Benchmark Prices and MLS® HPI Index Values
  • 3. 6DOHVWR$FWLYH/LVWLQJV5DWLR The ratio of counts of total residential sales over total active residential listings for the last 25 months 2FWREHU Produced: 01-Nov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ales 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 October 2022 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 fifteen 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 October 2022 Statistics
  • 5. MLS® HPI benchmark and value - Condominium / Apartments Victoria Real Estate Board October 2022 Statistics