We put our full trust and were confident in her "lead" to the right properties for our wants and needs. 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. With the warmest climate in Canada, Victoria boasts beautiful ocean or mountain scenery in every direction and a wide array of outdoor recreational activities including biking, golfing, and zip lining. 2018 is a year that will be remembered by many as the year the Victoria Market crashed. The most credible and reliable insight into Victorian real estate. Short Sales. Surge in sales forced on cash-strapped homeowners has prompted Victoria's treasury to warn about a further softening of the real estate market. View homes for sale in Victoria, British Columbia, property images, MLS® house details and more! Victoria’s new-home construction, particularly single-family new construction has been in high demand. RE/MAX Canada anticipates healthy housing price growth at the national level, with move-up and move-over buyers continuing to drive activity in many regions across the Canadian housing market. Victoria’s real estate market felt the impacts of the coronavirus crisis and fell off a cliff. “Victoria was the only state in which buyer demand increased last week (1%), with declines elsewhere, the largest of which were recorded in in Northern Territory (-5.9%) and South Australia (-7.6%) – likely due to lockdowns. Victoria Real Estate Market Report – November 2020 The fast pace of home sales in Victoria which began in June has not slowed down. A slight increase in sale prices of three per cent over the next 12 months as demand remains high while inventory still trends well below Victoria’s 10-year average is expected. The documents we link to on this page are stored in PDF format. "The fact is, the market has out performed anyone's expectations in the midst of this pandemic. The sale price of new-construction homes is similar to that of resale properties, as what buyers are getting in a new build typically means they have to sacrifice in property size. The pandemic has prompted many Canadians to reassess their living situations. While the economic impact of COVID-19 may push buyers out of the market, seller’s market-like conditions are expected to continue in 2021. If your browser already has a PDF plug-in like the Adobe Reader, you'll probably be able to simply click on the document you're interested in to view it here online. Canadians are almost equally split in their confidence in Canada’s real estate market, with 39% as confident as they were prior to the pandemic, and 37% slightly less confident. Real Estate Institute of Victoria president Leah Calnan tipped regional property prices would rise even more once Melbourne residents could travel there for private inspections. 2204 E Sabine Street $109,900. "There were 1,813 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of November 2020, 24.4 per cent fewer properties than the total available at the end of November 2019 and a 14.6 per cent decrease from the 2,122 active listings for sale at the end of October 2020. Record low interest rates, tenants making the move to home ownership, and an increase in out-of-town buyers. Sales of condominiums were up 62.7 per cent from November 2019 with 262 units sold. The Victoria Real Estate Board says there were 696 … View our complete statistical package here, download and install this popular, free software. “Despite the tragic impacts of the pandemic, our optimism in the strength of Canada’s housing market has always remained, and current market activity further exemplifies this. Sales of condominiums were down 3.2 per cent from June 2019 with 209 units sold. Reductions. ). VICTORIA – A total of 808 properties sold in the Victoria Real Estate Board region this June, 9.2 per cent more than the 740 properties sold in June 2019 and 76.8 per cent more than the previous month of May 2020. This November was near 800! Victoria expected to continue as seller’s market in 2021, prices to increase approximately 5%. Mortgage rates are at historic lows however higher unemployment largely offsets the benefits of low … CoreLogic data shows regional Victoria’s house and unit value had increased by 5.28 per cent to a $387,870 median in the past 12 months. With Zolo's real estate market trends, you'll get current data on Victoria Ve's housing market. Foreclosures. balcony, pool etc. Bear mountain is expected to see more demand as it continues to build more developments, with both single-family and strata offerings. RELATED: Real estate sales in Greater Victoria show signs of recovery. She cared about the fact that I should not be shoveling snow or racking leaves etc. The average price for a condo in Victoria is $479,724.18. But recent changes to a federal program could … November closed just shy of 800 sales. Condominium sales were up 70.8% from October 2019. My team of specialists use proven, repeatable systems, backed by market research to help you buy and sell property with more success than traditional real estate agents. “Once again, we’ve tracked an unexpectedly busy month for the Victoria area real estate market.” The South Victoria areas such as Fairfield, Rockland, Gonzales, James and Downtown are expected to be the hottest neighborhoods in 2020 due to high demand. Canadians are on the move. Victoria’s top-selling neighbourhoods in 2020 were Langford, Victoria and Saanich. The Greater Victoria real estate market felt the effects of the COVID-19 pandemic in March, according to sales figures released Wednesday, but it’s bracing for much worse this month and beyond. ... Victoria Real Estate Market Health. Homebuyers are expected to continue looking for homes with more space for home gyms and home offices in 2021. First-time buyers and move-up buyers drove demand in 2019. Housing affordability continues to challenge buyers in this region when it comes to home ownership and rentals due to lack of supply. Victoria, TX is a seller's market in September 2020, which means that there are more people looking to buy than there are homes available. Property SELLING FAST: The average Victorian home is spending just 33 days on the market according to the latest figures from the Real Estate Institute of Victoria. housing market by nature, the B.C. Those requiring specific information on property values should contact a REALTOR®. Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in November 2020. This November was near 800! "Days on the market is a strong indicator of buyers' desire. Victoria, IL Trail View Estates has a median listing price of $279.9K , making it the most expensive city . Vacancy rates also remain low, despite an uptick in 2018 with new supply entering the market. Edmonton’s housing market quickly bounced back to pre-COVID levels in June, while Saskatoon experienced its busiest June in years; this momentum is anticipated to continue into the fall market, with RE/MAX brokers and agents estimating a three-per-cent increase in average residential sale prices for the remainder of the year. The 2020 RE/MAX Fall Market Outlook Report includes data and insights supplied by RE/MAX brokerages. Overall confidence in the market remains high among consumers. According to the RE/MAX Fall Market Outlook Report, RE/MAX brokers suggest that the average residential sale price in Canada could increase by 4.6% during the remainder of the year. The average sales price in Victoria increased by 11% to $778,854 in 2020 (Jan. 1 – Oct. 31), compared to $702,310 in 2019 (Jan. 1 – Dec. 31). In March and April, home sales were down five per cent and 59 per cent, respectively, from 2019. There is a chance we will see a slow leveling of activity over the winter - which is what we would expect seasonally. Victoria Real Estate Market Victoria Real Estate Market continues to outperform in unpredictable times. With higher sales, local prices have also risen. They will likely continue to compare stats month-to-month, as that spins them in their favour. A slight increase in sale prices of three per cent over the next 12 months as demand remains high while inventory still trends well below Victoria’s 10-year average is expected. A New Year and a New Market for Victoria Real Estate. VICTORIA -- Despite the ongoing COVID-19 pandemic, the real estate market in Victoria has been booming this summer, according to the Victoria Real Estate Board (VERB). There were 619 sales last We came close to the record sales in a November which was 892 in 1989. According to a survey conducted by Leger on behalf of RE/MAX Canada, 32% of Canadians no longer want to live in large urban centres, and instead would opt for rural or suburban communities. The market conditions favour sellers, and the average price for a single-family home hit $763,500 in June 2016. There has been some hesitation from move-up buyers in Victoria due to the current climate, but after moving through the winter months it is expected that more people will begin to get outside and look at homes more. 2018 with new supply entering the market remains high among consumers market Outlook includes! 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