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

Comments are closed

Just Posted

Police use tear gas to apprehend Saanich woman threatening neighbours, police

Woman facing possible criminal charges after standoff with police

Victoria woman loses $2,500 to scammer spoofing VicPD phone number

VicPD warns against sharing personal information, sending money to strangers

Esquimalt splash pad back in action

Esquimalt Adventure Park reopens July 6

Investigation launched after sudden death of Saanich inmate

B.C. Corrections, B.C. Coroners Service investigating cause, circumstances surrounding death

Police issue warning after baby comes across suspected drugs in Kamloops park

The 11-month-old girl’s mother posted photos on social media showing a small plastic bag containing a purple substance

Collision results in train derailment just east of Golden

The derailment occurred Sunday night, according to a statement from CP

Lower Mainland woman says llama farming neighbour shot her 11-month-old pup

Young dog was on owner’s Maple Ridge property when it was killed on June 21

B.C. records 31 new cases, six deaths over three days due to COVID-19

There are 166 active cases in B.C., 16 people in hospital

B.C. highway widening job reduced, costs still up $61 million

Union-only project scales back work to widen Trans-Canada

BC Wildfire Service to conduct night vision trials for helicopters in South Okanagan

This technology could assist with future firefighting operations

Victoria man dies after skydiving incident on Vancouver Island

34-year-old had made more than 1,000 jumps

Most Read