PRESIDENT DIRECTORS David Langlois Sheila Aujla PRESIDENT ELECT Robert .
PRESIDENTDavid LangloisPRESIDENT ELECTKaren Dinnie-SmythTREASURERPatrick NovotnyPAST PRESIDENTSandi-Jo AyersDIRECTORSSheila AujlaRobert ColeLaurie LidstoneJackie NgaiGraden SolEXECUTIVE OFFICERDavid CoreyDec 1, 2021No change on the horizon for the Victoria real estate marketA total of 653 properties sold in the Victoria Real Estate Board region this November, 17.9 per cent fewerthan the 795 properties sold in November 2020 and 12.3 per cent fewer than the previous month ofOctober. 236 condominiums sold, 5.2 per cent fewer than in the previous month of October. 276 singlefamily homes sold, 18.6 per cent fewer than in the previous month of October."Strong demand for housing in our community continues to exceed the ultra-low number of listings ofhomes available for sale,” said Victoria Real Estate Board President David Langlois. “This demand createscompetition and pressure on pricing and we continue to see home values notch up. At this moment in time,there are fewer than 600 residential properties for sale in our market.”There were 887 active listings for sale on the Victoria Real Estate Board Multiple Listing Service at theend of November 2021, 51.1 per cent fewer properties than the 1,813 available at the end of November2020 and 14.4 per cent fewer properties than the 1,036 active listings for sale at the end of October 2021.The Multiple Listing Service Home Price Index benchmark value for a single family home in the VictoriaCore in November 2020 was 903,700. The benchmark value for the same home in November 2021increased by 24.2 per cent to 1,122,600, a 1.7 per cent increase from the previous month of October. TheMLS HPI benchmark value for a condominium in the Victoria Core in November 2020 was 485,100,while the benchmark value for the same condominium in November 2021 increased by 15.6 per cent to 560,700.“Only with strong measures around supply will we see a lift in the pressures on our housing market,” addedPresident Langlois. “Governments continue to try to intervene by using demand side measures, such asthe province announcing their plan to introduce a ‘cooling off’ period for resale homes. This conceptwas delivered without industry consultation or supporting data. Introducing measures that add uncertaintyto the marketplace fails to address the issues of supply and attainability in our community - andthreatens to make the supply situation worse. A cooling-off period will not increase consumer protection - infact many of the unintended consequences of such a policy could decrease protection for both buyers andsellers. The housing market is complex and policy must be evidence-based and designed for all types ofmarkets – not to react to a moment in time. The government needs to sharpen their focus on the issue thathas been documented for years – that a consistent delay in the delivery of homes to meet the needs of ourgrowing population has created housing gridlock.”About the Victoria Real Estate Board - Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards andinnovative programs to enhance the professionalism of REALTORS . The Victoria Real Estate Board represents 1,527 local Realtors. If youare thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing market.VICTORIA REAL ESTATE BOARD3035 Nanaimo StreetVictoria, BCV8T 4W2T 250.385.7766F 250.385.8773www.vreb.orgwww.openhousesvictoria.ca
November 2021Statistics Package for rison of Unit Sales, Average Prices and Median NovemberPrices 2021Produced: 01-Dec-2021Sales by Property TypeSingle Family Greater VictoriaSingle Family Other AreasSingle Family Total All AreasCondo ApartmentRow/TownhouseManufactured HomeTotal ResidentialTotal SalesActive 8.6%-5.2%-15.6%-29.4%-13.7%-12.3%This MonthLast MonthThis Month Last YearNovember 2021October 2021November 2020LY% Average LM% LY% Median LM% LY% Units Average Median Units Average Median -27.4% 1,344,9181.3% 22.3% 1,245,0002.8% 36.8%330 1,327,228 1,211,000361 1,100,049 909,9000.0% 1,055,764 45.4% 23.0% 842,450 -15.7% -4.8%9 726,200 999,50014 858,171 885,000-26.4% 1,330,2511.4% 21.9% 1,235,0002.7% 36.2%339 1,311,271 1,202,500375 1,091,019 907,000-9.9% 648,8674.5% 38.2% 585,0007.2% 36.5%249 620,859 545,895262 469,483 428,500-23.2% 807,289 -5.7% 21.0% 800,5360.3% 32.2%90 855,894 797,89599 667,142 605,700-7.7% 275,858 -31.9% 11.2% 273,450 -0.6% 17.6%17 404,859 275,00013 248,162 232,500-19.9%695749-17.9%745795887 -14.4% -51.1%1,0361,813LegendUnits: net number of listings soldLM%: percentage change since Last MonthLY%: percentage change since This Month Last YearAverage : average selling priceMedian : median selling priceTotal Residential: includes sales of residential property typesTotal Sales: includes sales of all property typesActive Listings: total listings of all types on the market at midnight on the last day of the monthPrevious Periods Comparison of MLS HPI Benchmark Prices and MLS HPI Index ValuesVictoria Real Estate Board Multiple Listing Service Victoria Real Estate BoardPage 1 of 1November 2021 Statistics
Total new MLS listings and total MLS sales for entire districtThe ratio of counts of total residential sales over total active residential listings for the last 25 monthsProduced: 01-Dec-2021Sales to Active Listings RatioThis chart tracks the ratio of total residential sales over total active residential listings at month-end for each ofthe last 25 months.The active listing count and the sales count can be viewed as indicators of housing supply and demandrespectively. Observing the ratio between them can thus help indicate a "buyers' market", where there isdownward pressure on prices, and a "sellers' market", where there is upward pressure on prices.- below 10%, there is downward pressure on prices (buyers' market)- above 25%, there is upward pressure on prices (sellers' market)- in the 15-20% range, there is little pressure on prices either way (balanced market)Victoria Real Estate BoardNovember 2021 Statistics
The Victoria Real Estate Board uses the MLS Home Price Index (MLS HPI) to report on markettrends. The MLS HPI uses the concept of a benchmark home, a notional home with commonattributes of typical homes in a defined area.Through the analysis of over fifteen years of Victoria Real Estate Board MLS sales data, the MLS HPI defined benchmark homes for Victoria in each category (single family homes, townhouses,condos) and for each neighbourhood. The benchmark starting point was 2005, where each type ofproperty and neighbourhood was assigned an index value of 100.MLS HPI benchmark and value - Single Family HomesVictoria Real Estate BoardNovember 2021 Statistics
MLS HPI benchmark and value - Condominium / Apartments1. Area Group2. Property Type3. Area/Property Type SelectionVREB Area Summary– Condo Apartment (Con)All% Difference from 12 Months Ago (October 2020 to October 2021)Select Timeframe:12 Months Ago17.0%16.0%Peninsula – ConWestshore – Con14.4%Core – ConVictoria REB – Con14.9%Note: Areas with insufficient sales are not included in the HPI.Source: Victoria Real Estate BoardVictoria Real Estate BoardNovember 2021 Statistics
HPI or Benchmark PriceHPIBenchmark PriceValue or percent changeValuePercent change1. Area Group2. Property Type3. Area/Property Type SelectionVREB District Summary– Single Family-All (SF-All)AllBenchmark Price by Timeframe and Property TypeNovember 20211 Month Ago3 Months Ago6 Months Ago12 Months Ago3 Years Ago5 Years AgoJanuary 2005Victoria REB – SF-All 1,040,700 1,021,400 1,005,600 943,000 821,200 762,900 649,100 358,000Victoria – SF-All 1,033,800 1,027,800 1,022,600 977,000 870,300 834,700 729,000 370,800 965,700 937,600 910,900 902,900 767,900 677,000 578,900 284,200 1,575,300 1,537,200 1,527,300 1,422,900 1,241,300 1,245,200 1,076,900 552,000Esquimalt – SF-All 902,600 878,000 850,000 838,000 720,700 656,400 569,300 292,400View Royal – SF-All 1,012,800 1,002,600 995,300 943,600 825,200 779,800 642,200 349,200Saanich East – SF-All 1,138,600 1,120,000 1,105,800 1,052,600 904,200 882,100 783,100 394,500Saanich West – SF-All 1,010,100 990,300 967,300 916,600 808,300 753,000 629,600 329,100Sooke – SF-All 814,400 796,900 786,300 711,800 624,400 528,400 420,300 265,000Langford – SF-All 916,600 887,000 867,000 799,500 715,400 627,400 518,000 308,000 1,287,800 1,257,800 1,237,700 1,135,700 986,300 919,000 749,600 455,400 952,000 933,700 906,100 872,800 746,800 680,900 557,500 332,600Highlands – SF-All 1,349,400 1,358,200 1,335,600 1,208,400 1,045,200 978,100 828,800 493,000North Saanich – SF-All 1,348,600 1,330,100 1,314,900 1,231,000 1,052,900 964,600 845,600 487,900 935,200 921,600 901,700 871,900 733,600 667,800 580,400 316,500 1,090,800 1,063,300 1,046,800 975,700 844,900 781,300 673,700 357,400ML Malahat & Area –SF-All 855,600 844,300 829,000 757,600 652,300 579,000 442,600 282,300GI Gulf Islands – SF-All 682,200 677,300 672,900 612,400 522,800 485,600 360,800 271,500Victoria West – SF-AllOak Bay – SF-AllMetchosin – SF-AllColwood – SF-AllSidney – SF-AllCentral Saanich – SF-AllNote: Areas with insufficient sales are not included in the HPI.Source: Victoria Real Estate Board
HPI or Benchmark PriceHPIBenchmark PriceValue or percent changeValuePercent change1. Area Group2. Property Type3. Area/Property Type SelectionVREB District Summary– Single Family-All (SF-All)AllHPI by Timeframe and Property TypeNovember 20211 Month Ago3 Months Ago6 Months Ago12 Months Ago3 Years Ago5 Years AgoJanuary 2005Victoria REB – oria – oria West – SF-All339.8329.9320.5317.7270.2238.2203.7100.0Oak Bay – imalt – SF-All308.7300.3290.7286.6246.5224.5194.7100.0View Royal – ich East – ich West – e – ford – hosin – ood – lands – h Saanich – ey – ral Saanich – SF-All305.2297.5292.9273.0236.4218.6188.5100.0ML Malahat & Area I Gulf Islands – : Areas with insufficient sales are not included in the HPI.Source: Victoria Real Estate Board
HPI or Benchmark PriceHPIBenchmark PriceValue or percent changeValuePercent change1. Area Group2. Property Type3. Area/Property Type SelectionVREB District Summary– Condo Apartment (Con)AllBenchmark Price by Timeframe and Property TypeNovember 20211 Month Ago3 Months Ago6 Months Ago12 Months Ago3 Years Ago5 Years AgoJanuary 2005Victoria REB – Con 555,400 548,000 538,800 521,000 478,200 463,300 347,900 188,800Victoria – Con 538,300 525,900 521,500 516,000 470,800 471,200 353,400 190,600Victoria West – Con 739,900 747,900 717,500 706,600 662,300 630,200 495,400 266,900Oak Bay – Con 704,400 695,300 681,700 636,300 631,800 557,800 433,000 238,700Esquimalt – Con 510,200 507,000 488,800 464,400 421,500 377,400 293,700 147,900View Royal – Con 556,300 564,600 547,900 524,100 477,900 446,400 345,800 201,600Saanich East – Con 505,200 495,500 480,200 454,900 427,000 412,100 302,100 159,100Saanich West – Con 503,800 491,500 475,400 458,200 420,700 402,700 302,000 155,000Sooke – Con 378,600 383,000 369,600 347,200 306,800 280,400 203,900 122,100Langford – Con 485,600 486,400 480,000 456,200 414,800 383,000 292,600 160,600Colwood – Con 410,400 410,800 405,300 383,900 350,600 322,700 242,200 129,900North Saanich – Con 690,000 672,300 682,000 649,100 585,600 552,700 407,300 276,900Sidney – Con 549,000 537,000 546,500 513,500 460,800 457,100 322,300 205,900Central Saanich – Con 504,900 498,100 497,700 474,400 426,500 446,700 331,800 200,600Note: Areas with insufficient sales are not included in the HPI.Source: Victoria Real Estate Board
HPI or Benchmark PriceHPIBenchmark PriceValue or percent changeValuePercent change1. Area Group2. Property Type3. Area/Property Type SelectionVREB District Summary– Condo Apartment (Con)AllHPI by Timeframe and Property TypeNovember 20211 Month Ago3 Months Ago6 Months Ago12 Months Ago3 Years Ago5 Years AgoJanuary 2005Victoria REB – a – a West – Con277.2280.2268.8264.7248.1236.1185.6100.0Oak Bay – lt – Con345.0342.8330.5314.0285.0255.2198.6100.0View Royal – Con275.9280.0271.7259.9237.0221.4171.5100.0Saanich East – Con317.5311.4301.8285.9268.4259.0189.9100.0Saanich West – Con325.1317.2306.8295.7271.5259.9194.9100.0Sooke – d – Con302.4302.9298.9284.1258.3238.5182.2100.0Colwood – Con315.8316.1311.9295.4269.8248.3186.4100.0North Saanich – Con249.2242.8246.3234.4211.5199.6147.1100.0Sidney – Con266.6260.8265.4249.4223.8222.0156.5100.0Central Saanich – Con251.7248.3248.1236.5212.6222.7165.4100.0Note: Areas with insufficient sales are not included in the HPI.Source: Victoria Real Estate Board
HPI or Benchmark PriceHPIBenchmark PriceValue or percent changeValuePercent change1. Area Group2. Property Type3. Area/Property Type SelectionVREB District Summary– Townhouse (Twn)AllBenchmark Price by Timeframe and Property TypeNovember 20211 Month Ago3 Months Ago6 Months Ago12 Months Ago3 Years Ago5 Years AgoJanuary 2005Victoria REB – Twn 750,200 741,400 714,100 670,200 603,200 566,300 460,800 267,700Victoria – Twn 830,600 814,500 800,900 777,200 716,900 660,300 535,400 303,000Victoria West – Twn 770,500 746,000 741,500 689,900 631,300 535,800 413,300 204,100Esquimalt – Twn 725,400 700,600 688,500 645,700 596,400 499,000 401,400 219,300View Royal – Twn 814,600 807,400 802,400 748,100 693,200 620,900 516,700 277,200Saanich East – Twn 874,400 867,100 835,500 794,900 710,400 671,800 557,800 316,600Saanich West – Twn 711,700 707,600 681,800 645,300 574,900 554,800 457,400 260,600Sooke – Twn 621,000 612,700 580,900 532,200 474,500 453,000 352,900 235,600Langford – Twn 595,000 591,600 558,600 519,000 465,600 459,000 357,300 229,000Colwood – Twn 661,000 656,800 619,300 571,400 508,500 511,300 394,400 262,100Sidney – Twn 792,500 793,500 766,100 734,300 641,000 592,000 481,800 269,500Central Saanich – Twn 706,000 701,800 676,000 642,300 561,200 526,400 433,700 245,700ML Malahat & Area – Twn 818,100 803,300 764,600 706,100 633,300 519,100 408,600 241,900GI Gulf Islands – Twn 922,300 889,600 873,900 789,500 712,100 493,100 410,300 266,100Note: Areas with insufficient sales are not included in the HPI.Source: Victoria Real Estate Board
HPI or Benchmark PriceHPIBenchmark PriceValue or percent changeValuePercent change1. Area Group2. Property Type3. Area/Property Type SelectionVREB District Summary– Townhouse (Twn)AllHPI by Timeframe and Property TypeNovember 20211 Month Ago3 Months Ago6 Months Ago12 Months Ago3 Years Ago5 Years AgoJanuary 2005Victoria REB – a – a West – lt – Twn330.7319.4313.9294.4271.9227.5183.0100.0View Royal – Twn293.9291.3289.5269.9250.1224.0186.4100.0Saanich East – Twn276.2273.9263.9251.1224.4212.2176.2100.0Saanich West – Twn273.1271.5261.6247.6220.6212.9175.5100.0Sooke – d – Twn259.8258.3243.9226.6203.3200.4156.0100.0Colwood – Twn252.2250.6236.3218.0194.0195.1150.5100.0Sidney – Twn294.1294.5284.3272.5237.9219.7178.8100.0Central Saanich – Twn287.3285.6275.1261.4228.4214.2176.5100.0ML Malahat & Area – Twn338.2332.1316.1291.9261.8214.6168.9100.0GI Gulf Islands – Twn346.6334.3328.4296.7267.6185.3154.2100.0Note: Areas with insufficient sales are not included in the HPI.Source: Victoria Real Estate Board
Adding labelsHPI or Benchmark PriceHPIBenchmark PriceHold Ctrl (Cmd) and select points on the chart to show multiple date/value labels1. Area Group2. Property Type3. Area/Property Type SelectionVREB Area Summary– Single Family-All (SF-All)Multiple valuesBenchmark Price Performance over TimeSelect Date Range:All values1,100,0001,000,000Benchmark Price ( a REB – SF-AllNote: Areas with insufficient sales are not included in the HPI.Source: Victoria Real Estate BoardCore – SF-AllWestshore – SF-AllPeninsula – SF-AllJan 2022Jan 2020Jan 2018Jan 2016Jan 2014Jan 2012Jan 2010Jan 2008Jan 2006300,000
Adding labelsHPI or Benchmark PriceHPIBenchmark PriceHold Ctrl (Cmd) and select points on the chart to show multiple date/value labels1. Area Group2. Property Type3. Area/Property Type SelectionVREB Area Summary– Condo Apartment (Con)AllBenchmark Price Performance over TimeSelect Date Range:All valuesBenchmark Price ( )500,000400,000300,000Victoria REB – ConNote: Areas with insufficient sales are not included in the HPI.Source: Victoria Real Estate BoardCore – ConWestshore – ConPeninsula – ConJan 2022Jan 2020Jan 2018Jan 2016Jan 2014Jan 2012Jan 2010Jan 2008Jan 2006200,000
Adding labelsHPI or Benchmark PriceHPIBenchmark PriceHold Ctrl (Cmd) and select points on the chart to show multiple date/value labels1. Area Group2. Property Type3. Area/Property Type SelectionVREB Area Summary– Townhouse (Twn)Multiple valuesBenchmark Price Performance over TimeSelect Date Range:All values800,000Benchmark Price ( )700,000600,000500,000400,000Victoria REB – TwnNote: Areas with insufficient sales are not included in the HPI.Source: Victoria Real Estate BoardCore – TwnWestshore – TwnPeninsula – TwnJan 2022Jan 2020Jan 2018Jan 2016Jan 2014Jan 2012Jan 2010Jan 2008Jan 2006300,000
Adding labelsHPI or Benchmark PriceHPIBenchmark PriceHold Ctrl (Cmd) and select points on the chart to show multiple date/value labels1. Area Group2. Property Type3. Area/Property Type SelectionVREB Area SummaryMultiple valuesMultiple valuesBenchmark Price Performance over TimeSelect Date Range:All values1,000,000900,000Benchmark Price ( a REB – SF-AllNote: Areas with insufficient sales are not included in the HPI.Source: Victoria Real Estate BoardVictoria REB – TwnVictoria REB – ConJan 2022Jan 2020Jan 2018Jan 2016Jan 2014Jan 2012Jan 2010Jan 2008Jan 2006200,000
Monthly Sales Summary (Mark I)November 2021Residential Waterfront Properties Integrated Into Their Own DistrictsDistrictUnitsProduced: 01-Dec-2021Total VolumeResidentiall Single Family DetachedGreater VictoriaVictoria / Victoria WestOak BayEsquimaltView Royal351866 47,079,400 48,313,720 5,962,000 5,993,450Saanich EastSaanich WestCentral SaanichNorth SaanichSidneyColwood44241310913 62,227,400 30,584,500 20,630,000 19,479,250 10,084,700 14,116,333LangfordMetchosinSookeGulf Islands4042119 47,597,257 5,370,000 17,923,000 17,007,618Total Greater Victoria262 352,368,62814 14,780,700Total Other Areas14 14,780,700Total Single Family Detached276 367,149,328110913522 73,894,400 6,983,400 6,932,550 3,143,500 12,401,48895117241 4,354,000 2,834,855 700,000 14,396,750 1,015,100 25,296,4582 1,180,000236 153,132,501236 153,132,501Other AreasMalahat & Areal Condo ApartmentGreater VictoriaVictoria / Victoria WestOak BayEsquimaltView RoyalSaanich EastSaanich WestCentral SaanichNorth SaanichSidneyColwoodLangfordSookeTotal Greater VictoriaTotal Condo ApartmentVictoria Real Estate Board Multiple Listing Service Page 1 of 3
Monthly Sales Summary (Mark I)November 2021Residential Waterfront Properties Integrated Into Their Own DistrictsDistrictUnitsProduced: 01-Dec-2021Total Volumel Row/TownhouseGreater VictoriaVictoria / Victoria WestEsquimaltView RoyalSaanich EastSaanich WestCentral SaanichSidneyColwoodLangfordSookeGulf Islands9382042321456 8,303,000 1,984,900 6,324,379 17,966,291 3,492,400 1,567,000 2,782,000 1,920,000 10,764,325 3,160,000 3,089,70076 61,353,99576 61,353,995View Royal3 604,300Central SaanichLangfordSookeGulf Islands2231 552,000 818,000 564,800 491,30011 3,030,4001 279,9001 279,90012 3,310,300600 584,946,124Total Greater VictoriaTotal Row/Townhousel Manufactured HomeGreater VictoriaTotal Greater VictoriaOther AreasMalahat & AreaTotal Other AreasTotal Manufactured HomeTotal ResidentialVictoria Real Estate Board Multiple Listing Service Page 2 of 3
Monthly Sales Summary (Mark I)November 2021Residential Waterfront Properties Integrated Into Their Own DistrictsDistrictUnitsProduced: 01-Dec-2021Total VolumeOther Propertyl Lots & AcreageGreater VictoriaSaanich EastSaanich WestNorth SaanichColwoodLangford11114 3,900,000 2,150,000 2,150,000 475,000 4,160,099SookeGulf Islands142 10,898,983 2,769,000Total Greater Victoria24 26,503,08231 1,134,900 339,9004 1,474,80028 27,977,8821 1,875,00024 23,683,060653 638,482,066Other AreasMalahat & AreaUpIsland / MainlandTotal Other AreasTotal Lots & Acreagel Commercial Landl Other Commercial PropertiesGrand TotalsVictoria Real Estate Board Multiple Listing Service Page 3 of 3
Monthly Sales Summary (Mark II)November 2021Waterfront Properties Segregated Into a 'Waterfront' DistrictDistrictUnitsProduced: 01-Dec-2021Total VolumeResidentiall Single Family DetachedGreater VictoriaVictoriaVictoria WestOak BayEsquimalt323165 42,929,400 4,150,000 34,763,720 5,212,000View RoyalSaanich EastSaanich WestCentral SaanichNorth SaanichSidney644241399 5,993,450 62,227,400 30,584,500 20,630,000 13,529,250 10,084,700ColwoodLangfordMetchosinSookeGulf Islands134041715 14,116,333 47,597,257 5,370,000 14,553,000 13,630,618Waterfront (all districts)12 26,997,000262 352,368,628122 12,465,700 2,315,000Total Other Areas14 14,780,700Total Single Family Detached276 367,149,32895127125229411624119 61,373,800 9,445,600 4,278,400 6,182,550 3,143,500 12,401,488 4,354,000 2,249,855 700,000 12,296,750 1,015,100 25,296,458 320,000 10,075,000236 153,132,501236 153,132,501Total Greater VictoriaOther AreasMalahat & AreaWaterfront (all districts)l Condo ApartmentGreater VictoriaVictoriaVictoria WestOak BayEsquimaltView RoyalSaanich EastSaanich WestCentral SaanichNorth SaanichSidneyColwoodLangfordSookeWaterfront (all districts)Total Greater VictoriaTotal Condo ApartmentVictoria Real Estate Board Multiple Listing Service Page 1 of 3
Monthly Sales Summary (Mark II)November 2021Waterfront Properties Segregated Into a 'Waterfront' DistrictDistrictUnitsProduced: 01-Dec-2021Total Volumel Row/TownhouseGreater VictoriaVictoriaEsquimaltView RoyalSaanich EastSaanich WestCentral SaanichSidneyColwoodLangfordSookeGulf IslandsWaterfront (all districts)Total Greater VictoriaTotal Row/Townhouse93820423214461 8,303,000 1,984,900 6,324,379 17,966,291 3,492,400 1,567,000 2,782,000 1,920,000 10,764,325 2,349,000 3,089,700 811,00076 61,353,99576 61,353,99532231 604,300 552,000 818,000 564,800 491,30011 3,030,4001 279,9001 279,90012 3,310,300600 584,946,124l Manufactured HomeGreater VictoriaView RoyalCentral SaanichLangfordSookeGulf IslandsTotal Greater VictoriaOther AreasMalahat & AreaTotal Other AreasTotal Manufactured HomeTotal ResidentialVictoria Real Estate Board Multiple Listing Service Page 2 of 3
Monthly Sales Summary (Mark II)November 2021Waterfront Properties Segregated Into a 'Waterfront' DistrictDistrictUnitsProduced: 01-Dec-2021Total VolumeOther Propertyl Lots & AcreageGreater VictoriaSaanich EastSaanich WestNorth SaanichColwoodLangford11114 3,900,000 2,150,000 2,150,000 475,000 4,160,099SookeGulf Islands142 10,898,983 2,769,000Total Greater Victoria24 26,503,08231 1,134,900 339,9004 1,474,80028 27,977,8821 1,875,00024 23,683,060653 638,482,066Other AreasMalahat & AreaUpIsland / MainlandTotal Other AreasTotal Lots & Acreagel Commercial Landl Other Commercial PropertiesGrand TotalsVictoria Real Estate Board Multiple Listing Service Page 3 of 3
Sales to Active Listings RatioNovember 2021The ratio of counts of total residential sales over total active residential listings for the last 25 monthsProduced: 01-Dec-2021Nov 2021Oct 2021Sep 2021Aug 2021Jul 2021Jun 2021May 2021Apr 2021Mar 2021Feb 2021Jan 2021Dec 2020Nov 2020Oct 2020Sep 2020Aug 2020Jul 2020Jun 2020May 2020Apr 2020Mar 2020Feb 2020Jan 2020Dec 2019Nov 2019120%110%100%90%80%70%60%50%40%30%20%10%The Sales to Active Listings RatioThis chart tracks the ratio of total residential sales over total active residential listings at month-end foreach of the last 25 months.The active listing count and the sales count can be viewed as indicators of housing supply anddemand respectively. Observing the ratio between them can thus help indicate a "buyers' market",where there is sustained downward pressure on prices, and a "sellers' market", where there issustained upward pressure on prices.Based on a regression analysis performed by the Economics Department of the BC Real EstateAssociation in each market area of the province, the Sales to Active Listings Ratio for Victoria can beinterpreted as follows:- below 14%, there is downward pressure on prices (buyers' market)- above 20%, there is upward pressure on prices (sellers' market)- in the 14-20% range, there is little pressure on prices either way (balanced market)Victoria Real Estate Board Multiple Listing Service Page 1 of 1
Monthly Comparative Activity By Property TypeNovember 2021Includes All MLS Property TypesProduced: 01-Dec-2021Current MonthLast YearThis Year% ChangeYear To DateLast YearThis Year% ChangeSingle Family - ResidentialUnits Listed252288Units Sold215292Sell/List Ratio85 %Sales DollarsAverage Price / UnitPrice RatioActive Listings at Month End4264460235403316-4 %30 % 4,079,425,916 3,102,846,390 1,152,380 935,720101 % 280,138,010 292,804,072 1,302,967 1,002,754105 %Days To Sell-13 %-26 %83 %99 %1932211411103 %-7 %7 %72 %31 %23 %99 %-40 %-49 %1935-45 %-16 %-68 %335395238262-15 %-9 %-54 %42 % 480,654,846 468,837,742 2,019,558 1,789,457Single Family - Residential WaterfrontUnits Listed1619Units Sold1031Sell/List Ratio63 %Sales DollarsAverage Price / Unit163 % 28,435,000 61,999,815 2,843,500 1,999,994Price Ratio99 %Days To Sell33142Active Listings at Month End446971 %96 %99 %66 %3 %13 %95 %-77 %-36 %48101-52 %-49 %-15 %446494350330-10 %6 %1 %19 % 539,588,452 375,953,904 1,541,681 1,139,254Single Family - Residential AcreageUnits Listed1835Units Sold2327Sell/List RatioSales Dollars128 %Average Price / Unit77 % 35,772,368 35,425,782 1,555,320 1,312,066Price Ratio98 %97 %Days To Sell3838Active Listings at Month End508323428823626278 %100 %67 %44 %35 %97 %-1 %-40 %4061-35 %-19 %-10 %38693857329722080 %49 %24 %38 % 1,838,425,343 1,069,459,132 557,606 484,356Condo ApartmentUnits ListedUnits SoldSell/List Ratio101 %Sales DollarsAverage Price / UnitPrice Ratio 123,004,577 648,867 469,483102 %Days To SellActive Listings at Month End91 % 153,132,50185 %99 %2440194564100 %-40 %-66 %Victoria Real Estate Board Multiple Listing Service 2657 %72 %15 %98 %41-36 %Page 1 of 8
Monthly Comparative Activity By Property TypeNovember 2021Includes All MLS Property TypesProduced: 01-Dec-2021Current MonthLast YearThis Year% ChangeYear To DateLast YearThis Year% ChangeRow/TownhouseUnits Listed6170Units Sold7697Sell/List Ratio125 %Sales DollarsAverage Price / UnitPrice Ratio123913391085992-4 %22 % 794,315,934 604,733,423 732,088 609,610139 % 61,353,995 63,969,599 807,289 659,480104 %-13 %-22 %88 %99 %102 %-7 %9 %74 %31 %20 %99 %-14 %-56 %2342-46 %0%2581300 %177213 %143 %512 %53 % 17,734,200 6,281,500 1,043,188 897,357Days To Sell3338Active Listings at Month End51115Units Listed1Units Sold4Half Duplex (Up and Down)Sell/List Ratio400 %%Sales Dollars 4,129,900 675,000Average Price / Unit 1,032,475 675,000Price Ratio99 %Days To Sell261130Units Listed1222Units Sold1419Active Listings at Month End68 %100 %101 %88 %182 %16 %99 %134 %%2368-67 %-45 %-26 %26419823613633 %74 %-6 %28 % 189,358,731 91,498,344 802,368 672,782Half Duplex (Side by Side)Sell/List RatioSales Dollars117 %Average Price / UnitPrice Ratio 13,332,195 896,432 701,694107 %Days To SellActive Listings at Month End86 % 12,550,05089 %100 %12416351212103 %69 %107 %19 %100 %-71 %-83 %2233-34 %-50 %-50 %3926312150 %48 %-42 %17 % 25,604,050 14,287,300 825,937 680,348Half Duplex (Front and Back)Units ListedUnits SoldSell/List Ratio100 %100 %Sales Dollars 988,000 1,695,000Average Price / Unit 988,000 847,500Price Ratio110 %79 %101 %Days To Sell527Active Listings at Month End03104 %-81 %-100 %Victoria Real Estate Board Multiple Listing Service 1881 %79 %21 %99 %29-39 %Page 2 of 8
Monthly Comparative Activity By Property TypeNovember 2021Includes All MLS Property TypesProduced: 01-Dec-2021Current MonthLast YearThis Year% ChangeYear To DateLast YearThis Year% ChangeRecreationalUnits Listed60%3332Units Sold51400 %3217-32 %-86 % 6,532,000 3,512,900 204,125 206,641Sell/List Ratio83 %Sales DollarsAverage Price / UnitPrice Ratio 1,500,000 203,400 1,500,000100 %Days To Sell% 1,017,00088 %62548713Units Listed2110Units Sold1213Active Listings at Month End97 %101 %3 %88 %53 %86 %-1 %91 %-89 %-46 %1931911 %110 %-8 %24618217314935 %16 %3 %11 % 59,732,156 36,730,497 345,273 246,513Manufactured HomeSell/List Ratio57 %Sales DollarsAverage Price / UnitPrice Ratio130 % 3,310,300 3,226,100 275,858 248,162100 %70 %96 %Days To Sell1547Active Listings at Month End3125Units Listed1520Units Sold101782 %63 %40 %99 %96 %-68 %24 %3556-38 %-25 %-41 %266303222150-12 %48 %-46 %-7 % 118,824,329 73,300,512 535,245 488,670Residential LotsSell/List RatioSales Dollars67 %Average Price / UnitPrice Ratio85 % 6,164,549 11,322,150
Total new MLS listings and total MLS sales for entire district. The Victoria Real Estate Board uses the MLS Home Price Index (MLS HPI) to report on market trends. The MLS HPI uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area.
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