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

Sidney asking tourists to respect health guidelines

Messaging says Sidney is ‘excited to welcome smart, safe, and respectful visits’

Arrest made after hydraulic rescue pump stolen from temporary Saanich fire hall

VicPD K-9 unit called in to help locate suspect, stolen equipment

Architect plans to revitalize Victoria ‘gateways,’ including Wellburns building

Wood-construction apartments planned for Scott, Wellburn’s buildings

Public tips lead to arrest in alleged random assault on Victoria bus

June 19 incident was recorded by onboard camera

Younger Canadians, men less likely to wear masks, according to Stats Canada

Immigrants, especially immigrant women, more likely to follow precautions

VIDEO: Victoria’s Raging Grannies call for end to public funding of for-profit senior homes

Organizer says COVID-19 has made senior home issues more apparent

Greater Victoria Crime Stoppers wanted list for the week of July 7

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

POLL: Would you get a vaccine for COVID-19 when it is available?

With the number of positive COVID-19 tests skyrocketing across much of the… Continue reading

Campaign aims to raise $50K for young family of deceased Vancouver Island skydiver

James Smith, 34, died July 5 following incident in Nanoose Bay

Canadian policing organization calls for decriminalization of simple illicit drug possession

Canadian Association of Chiefs of Police want policing focus of opioid crisis to be replaced with a health one

B.C. ports part of data integration project to protect marine ecosystems

The $1.2 M federally funded program will draw crucial baseline data from Canada’s three coastlines

Filing deadline in RCMP sexual-harassment class-action extended due to COVID-19

Plaintiffs now have until January 2021 to submit claims for up to $222,000

Jamie Bacon pleads guilty to charge in Surrey Six case

The plea brings an end to a complex legal case that has spanned more than a decade

Hefty undeclared driver charges piling up, ICBC warns customers

Average extra penalty $2,971 after an at-fault accident

Most Read