October 1, 2015, Victoria BC – The Victoria Real Estate Board today released its report on real
estate activity for September 2015. A total of 704 properties sold in the Victoria Real Estate
Board region this September, an increase of 24.6% compared to the 565 properties sold in the
same month last year.
There were 3,478 active listings for sale on the Victoria Real Estate Board Multiple Listing
Service® at the end of September, 18.2% fewer than the 4,253 active listings in September
“We certainly have less inventory in the market than we saw at this time last year,” Victoria Real
Estate Board President Guy Crozier says. “Though higher sales have contributed to a reduction
in the available inventory, with almost 1,000 new listings entering the market in September,
there is still a continual supply of new inventory for those folks who hope to make a move.”
The Multiple Listing Service® Home Price Index benchmark value for a single family home in
the Victoria Core last year in September was $558,600. The benchmark value for the same
home in September 2015 has increased by 8.7% to $607,100.
“While September often signals the re-start of the market after the traditional summer slowdown
in sales activity, our market remained strong right through the summer and September,” notes
President Crozier. “This September is different than past years. Our busiest month last year was
in May, and 714 properties sold. That’s only 10 more transactions than we saw in September
this year. The question now is - will we see the normal winter lull in sales and listings or will the
market continue at this pace?”
More information on the September 2015 report and the Multiple Listing Service® Home Price
Index is available from the Victoria Real Estate Board, at vreb.org.