A total of 595 properties were sold in the Victoria Real Estate Board region this July, 16.7 % more than the 510 properties sold in July 2022 and a 15.6 % decrease from June 2023. Sales of condominiums were up 16.3 % from July 2022 with 200 units sold. Sales of single-family homes increased by 15.4 % from July 2022 with 293 sold.
The Multiple Listing Service® Home Price Index benchmark value for a single-family home in the Victoria Core in July 2022 was $1,366,100. The benchmark value for the same home in July 2023 decreased by 3.5 % to $1,318,800, which is up from June’s value of $1,310,100.
There were 2,419 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of July 2023, an increase of 3.3 % compared to the previous month of June and an 11.9 % increase from the 2,162 active listings for sale at the end of July 2022.
The MLS® HPI benchmark value for a condominium in the Victoria Core area in July 2022 was $600,000, while the benchmark value for the same condominium in July 2023 decreased by 3.7 % to $578,000, which is up from the June value of $573,800.
SOURCE: VREB