A total of 631 properties sold in the Victoria Real Estate Board region this December, 57 per cent more than the 402 properties sold in December 2019 and a 20.6 per cent decrease from November 2020. Sales of condominiums were up 61.2 per cent from December 2019 with 195 units sold. Sales of single-family homes increased 58.6 per cent from December 2019 with 314 sold. A grand total of 8,497 properties sold over the course of 2020, 17.1 percent more than the 7,255 that sold in 2019. 2020 sales came in close to one thousand sales over the ten-year average of 7,329 properties.


“This has been an unexpected year on many levels,” says 2020 Victoria Real Estate Board President Sandi-Jo Ayers. “The onset of the COVID-19 pandemic in March and April quickly swept away any illusions that our normal seasonal market patterns would persist. Equally surprising was the resurgence of our market in early summer when restrictions lightened, and pent-up demand began pushing sales beyond expectations. The combination of the ongoing pandemic, historically low interest rates and a shift in consumer priorities towards properties that cater to a more home-based work / life / retirement balance resulted in record setting sales for the last several months of 2020.”


There were 1,279 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of December 2020, a decrease of 29.5 per cent compared to the previous month of November and a 34.5 per cent decrease from the 1,952 active listings for sale at the end of December 2019. This represents the lowest inventory of active listings at month-end in at least the last 25 years.


“The other side of our local story was the inventory,” adds Ayers. “We ended the year on a record low of properties available in Greater Victoria. This means that the huge demand we see for homes in our area is not being met by supply and prices are being pushed upwards as buyers vie for homes. Even historically lower-priced markets like the Highlands and the Westshore are seeing pressure as buyers adjust what suits their needs and focus on home ownership. What remains consistent is that in this complex market, your REALTOR® can help to navigate one of the biggest purchases most will make in their lifetime."


The Multiple Listing Service® Home Price Index benchmark value for a single-family home in the Victoria Core in December 2019 was $857,200. The benchmark value for the same home in December 2020 increased by 6.8 per cent to $915,100, slightly more than November’s value of $903,100. The MLS® HPI benchmark value for a condominium in the Victoria Core area in December 2019 was $520,100, while the benchmark value for the same condominium in December 2020 decreased by 0.9 per cent to $515,600, slightly less than the November value of $516,600.

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When you think about selling your property, do you dwell on the possible work and stress involved? You're not alone. Many homeowners share the same concerns. But it doesn't have to be that way.


In fact, there are plenty of ways to add some fun, anticipation, and even a sense of adventure to the selling process. Here are just a few ideas:

  • Plan fun things to do when your home is being shown. That can include walks, sports activities, or trying something you and your family have never done before.
  • Declutter for your own benefit. Instead of thinking about decluttering as a chore required for the sale, focus instead on how much more comfortable your home will be after decluttering. Studies consistently show that less clutter reduces stress and increases a sense of wellbeing.
  • Get everyone in your home anticipating the move in a positive way. Put pictures of your next home, including neighbourhood shots, on the fridge door. Sit together on the computer and explore your new neighbourhood's features and amenities.
  • Celebrate milestones in the selling process. For example, when you're finished preparing your property for sale, go out to celebrate. Make a checklist of milestones and how you'll celebrate each one.
  • Get the help you need. A big part of the stress of selling is the anticipated work involved. Remember, you don't have to do it all yourself. Much of what needs to be done can be handled by contractors and other professionals.

There are many other ways to make selling your home a positive and turbulent free experience. Give me a call if you'd like more ideas and suggestions.

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MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.