A total of 590 properties were sold in the Victoria Real Estate Board region this March, 29.2 % fewer than the 833 properties sold in March 2022 but a 28.3 % increase from February 2023.
Sales of condominiums were down 29.4 % from March 2022 with 197 units sold.
Sales of single-family homes decreased 31.8 % from March 2022 with 281 sold.
There were 1,970 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of March 2023, an increase of 8.9 % compared to the previous month of February and an 85.3 % increase from the 1,063 active listings for sale at the end of March 2022.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in March 2022 was $1,387,200. The benchmark value for the same home in March 2023 decreased by 10.9 % to $1,236,200, down from February’s value of $1,247,200.
The MLS® HPI benchmark value for a condominium in the Victoria Core area in March 2022 was $616,400, while the benchmark value for the same condominium in March 2023 decreased by 9.1 % to $560,300, down from the February value of $568,200.
Source VREB.