A total of 457 properties sold in the Victoria Real Estate Board (VREB) region throughout the month of May — more than 40 per cent fewer than the 848 properties sold in May of 2019. THE CANADIAN PRESS Jonathan Hayward

Greater Victoria property sales down by 40 per cent compared to last year

Value of single-family home, condominium in Victoria up from last year despite pandemic

In May, 457 properties sold in the Victoria Real Estate Board (VREB) region — more than 40 per cent fewer than the 848 properties sold in May of 2019.

“Activity in real estate right now echoes the activity in our broader community – as restrictions gradually begin to lift – so too have our sales and listings numbers. Of course, like any industry, we do not expect a sudden shift back to any kind of normal,” VREB President Sandi-Jo Ayers said in a statement.

READ ALSO: No architect for Langford building ruled ‘unreasonable’ by B.C. Supreme Court

And while property sale statistics are down in May from last year, the number is actually a 59.2 per cent increase from the total number of properties sold in April. Sales of condominiums were down 55.7 per cent from May 2019, with 108 units sold and sales of single-family homes were down 42.9 per cent from May 2019 with 254 sold.

READ ALSO: Telus headquarters to come to Victoria in ‘landmark building’ development

“One theme that persists in our market is that well-priced properties in high demand areas continue to see multiple offers. Demand exists and we continue to have motivated buyers searching for their perfect home.”

As of the end of May, there were 2,544 active listings for sale.

According to the Multiple Listing Service Home Price Index, the value for a single-family home in Victoria has increased by 2.6 per cent from last year, along with a 3.5 per cent for condominiums.

For more statistics visit vreb.org.



kendra.crighton@blackpress.ca

Follow us on Instagram
Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

B.C. Appeal Court prevents Victoria woman from using the term ‘death midwife’ in her job

Pashta MaryMoon claimed she had been providing “death-care services” for more than 40 years

Victoria bells join cacophony marking 75th anniversary of Japanese bombings

Bells ring Aug. 6, 9 in remembrance of the victims of Nagasaki, Hiroshima

$3,700 worth of bikes stolen in Oak Bay in just three days

Police receive reports of four stolen bikes from July 27 to 29

Suspect in custody after early morning break and enter at downtown Victoria business

Woman located leaving Johnson Street with stolen merchandise, police say

View Royal fire chief calls for realistic solutions to ‘mess’ at Thetis Lake

Emergency crews harassed while extinguishing brush fire, rescuing drunk 15-year-old during long weekend calls

Airlines dispute Dr. Henry’s claim they ‘very rarely’ give accurate COVID contact tracing info

Air Canada, WestJet say they provide names and contact information

Greater Victoria Crime Stoppers wanted list for the week of Aug. 4

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

POLL: Should it be mandatory to wear masks when out in public?

B.C. is witnessing an alarming rise in the number of cases of… Continue reading

‘We all have anxieties’: B.C.’s top doctor addresses return-to-school fears amid COVID-19

Dr. Bonnie Henry promises school restart plan safe for B.C. kids

B.C. fish harvesters receive long-awaited details on pandemic benefits

Applications to the $470-million federal assistance programs will open Aug. 24

Abbotsford mom worried about her two kids in Beirut following explosion

Shelley Beyak’s children were abducted by their dad in 2018

Young Canadians, hospitality workers bear the brunt of mental strain in 2020: report

A study by Morneau Shepell points to economic uncertainty in the pandemic as the cause for angst

Health Canada recalling more than 50 hand sanitizers in evolving list

Organization says to stop using products listed, and to consult a health-care professional

Most Read