January 2022 Market Update Greater Victoria

January 2022 Market Update Greater Victoria

Here are the recently released Home Price Benchmark figures for homes and condos
from the Victoria Real Estate Board for comparison to December 2021 and January 2020 (12 months).

February 1, 2022  A total of 474 properties sold in the Victoria Real Estate Board region this January, 26.6 per cent fewer than the 646 properties sold in January 2021 but an 8.2 per cent increase from December 2021. Sales of condominiums were down 13 per cent from January 2021 with 188 units sold. Sales of single family homes decreased 39.7 per cent from January 2021 with 179 sold.

There were 744 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2022, an increase of 14.1 per cent compared to the previous month of December and a 43.7 per cent decrease from the 1,321 active listings for sale at the end of January 2021.

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in January 2021 was $932,200. The benchmark value for the same home in January 2022 increased by 24.6 per cent to $1,161,500, up from December’s value of $1,144,900. The MLS® HPI benchmark value for a condominium in the Victoria Core area in January 2021 was $487,500, while the benchmark value for the same condominium in January 2022 increased by 20.5 per cent to $587,300, up from the December value of $570,600.

To request full statistics package for all areas in Greater Victoria, BC Canada, click on this link

https://mailchi.mp/5d72bcdbd6c0/greater-victoria-jan2022-market-update

Please contact either Rosemary or Gary if you would like to discuss the current market, would like a Comparative Market Analysis of your home, or would like to discuss selling or buying a property in the Greater Victoria area.

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