November 2019 Victoria Real Estate Market Stats
November 2019 Victoria Real Estate Market Stats summarizes what’s happening the the real estate market in the Victoria and surrounding areas. They can be useful in establishing trends when applied over a period of time.
*Keep in mind that the information does not indicate the actual value of any particular property.
Victoria Real Estate Market Remains Competitive
Real Estate in Victoria
A total of 577 properties sold in the Victoria Real Estate Board region this November, 15.9 per cent more than the 498 properties sold in November 2018 and a 6.8 per cent decrease from October 2019. Sales of condominiums were up 5.9 per cent from November 2018 with 161 units sold. Sales of single family homes increased 15.4 per cent from November 2018 with 308 sold.
“We continue to see low inventory and strong demand for low to mid priced properties in our area, which is pushing pricing up on condos and single family homes that fall within that segment,” says Victoria Real Estate Board President Cheryl Woolley. “It is a challenging time for those shopping for properties in that price range as they can often find themselves in a competing offer situation.”
There were 2,397 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of November 2019, a decrease of 9.3 per cent compared to the month of October, but a 2.3 per cent increase from the 2,343 active listings for sale at the end of November 2018.
“Appropriate pricing and awareness of market trends are essential right now if you want to buy or sell a home in our area. That is why it is important to have a Realtor guide you through the process. It’s worth getting this professional help, for what likely will be the biggest purchase or sale of your lifetime.”
November 2019 Victoria Real Estate Market
- Single Family Home in the Victoria Core: November 2019 prices decreased by 1.2 per cent to $855,400, slightly less than October’s value of $857,700. November 2018 MLS® HPI benchmark value was $865,800.
- Condominium in the Victoria Core: November 2019 increased by 3.1 per cent to $517,000, slightly more than the October value of $511,600. November 2018 MLS® HPI benchmark value was $501,300.
Find out what your home may be worth in the Victoria Real estate market today.
If you require specific information on property values please contact one of our REALTORS® or call (250) 744-3301
*Data Source VREB