““Sales did increase notably over last year, but it’s important to include some context,” said 2024 Victoria Real Estate Board Chair-Elect Dirk VanderWal. “October 2023 saw the fewest sales in that month since 2008, which distorts a year-over-year comparison; in fact, last month’s sales count was almost exactly on the ten-year average for the month. With that context, although we’ve certainly seen a notable increase in sales month over month, this does signal a return to a more average market for this time of year. The number of homes available on the market has remained relatively consistent, which has also created the benefit of a more balanced market for buyers and sellers, even with the increase in sales numbers.””
There were 3,161 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of October 2024, a decrease of 6 per cent compared to the previous month of September and a 14.7 per cent increase from the 2,756 active listings for sale at the end of October 2023.
“I think it’s safe to say that many consumers have been watching the Bank of Canada rate announcements, and that could be influencing their decision making,” adds Chair-Elect VanderWal. “Recent rate drops likely encouraged a few more buyers and sellers to enter the market, and we may see that trend continue in November, the month which traditionally begins our market’s winter lull. Even though sales were higher last month, we are still experiencing a comfortable environment for buyers and sellers to negotiate. There are fewer multiple offers and more time for the decision-making process. It is hard to predict what the winter market will bring” (VREB October Press Release – read full article here)
This month I am sharing the graphic of Median Price across each segment of the market as well as Months of Inventory in Greater Victoria.
The statistics below show changes in average prices over the year & month, and the full press release from the board is linked below!
Average Sale Price Sep 2024 Oct 2024 Oct 2023
Single Family Dwelling $1,238,094 $1,260,156 $1,264,544
Condo/Apt $596,209 $591,661 $616,545
Row/Townhouse $828,563 $811,307 $811,235
*VREB October 2024 – Read the full press release here*
Welcome to this 2 bedroom, 2 bathroom rancher on a 7,405 SqFt lot. This home is located at the end of a quiet cul-de-sac in a family friendly neighbourhood. Inside you’ll find a cozy sunken living room with a pellet stove and bay windows overlooking your front yard. The dining area has French doors opening to the side of the home and bringing in ample natural light. This home features a primary bedroom with walk in closet and 2 piece ensuite bathroom. There is a main bathroom, second bedroom and separate laundry room for your convenience. You have a private backyard with a patio, greenhouse and storage shed. Lots of parking is available with the driveway and single car garage. You’re also within a 5 minute drive to everything! Groceries, shopping, the marina, parks, library, gym, and more. Make this cozy rancher home today! |
Welcome to this updated top-floor condo in the well-managed Carrington Court. This bright and spacious 2-bedroom, 2-bathroom unit is filled with natural light, thanks to its southwest-facing exposure, large windows, and skylight. Freshly painted, the condo features an open-concept kitchen that flows into the generous dining and living areas, complete with a cozy gas fireplace (with gas included in the strata fees). Step out onto the balcony to enjoy views of the peaceful courtyard. The primary bedroom offers a walk-through closet and a full ensuite for added comfort and privacy. You’ll also appreciate the convenience of in-suite laundry, secure underground parking, and an additional storage locker. Pet-friendly and centrally located, you’re just steps from the Gorge, with easy access to transit, cafés, restaurants, and the Galloping Goose and quick 5-minute drive into downtown Victoria.
This year my brokerage Royal LePage Coast Capital Realty helped raise over $30,000 for the annual Night Light Walk in support of the Royal LePage Shelter Foundation with 100% of the proceeds going towards the Cridge Centre for the Family here in Victoria.
My husband and dog Kea (pic on the right) walked with colleagues and others in the community to support and raise awareness. Grateful to be a part of a brokerage who helps to give back to the community!
😊Another busy month in the real estate world! Thrilled to be making another appearance in the top 25 for my brokerage this month! Always an honour to be recognized among so many great agents. 🎉I love working hard for my clients and helping them reach their real estate goals, no matter what that looks like.
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