๐คReal Estate has seasons! Itโs important to keep the bigger picture in mind when looking at month to month stats.
Hereโs what you need to know :
โขMLS Home Price Index benchmark value:
๐๐๐ฃ๐๐ก๐ ๐๐๐ข๐๐ก๐ฎ ๐๐ค๐ข๐ ๐๐ฃ ๐ฉ๐๐ ๐๐๐๐ฉ๐ค๐ง๐๐ ๐พ๐ค๐ง๐:
๐๐๐ฉ๐ค๐๐๐ง 2021 ๐ฌ๐๐จ $1,216,900 ๐จ๐๐ข๐ ๐๐ค๐ข๐ ๐๐ฃ
๐๐๐ฉ๐ค๐๐๐ง 2022 ๐๐ฃ๐๐ง๐๐๐จ๐๐ ๐๐ฎ 10.2% ๐ฉ๐ค $1,364,200
๐พ๐ค๐ฃ๐๐ค๐ข๐๐ฃ๐๐ช๐ข ๐๐ฃ ๐ฉ๐๐ ๐๐๐๐ฉ๐ค๐ง๐๐ ๐พ๐ค๐ง๐ ๐๐ฃ ๐๐๐ฉ๐ค๐๐๐ง 2021 ๐ฌ๐๐จ $524,500 ๐จ๐๐ข๐ ๐๐ค๐ฃ๐๐ค ๐๐ฃ ๐๐๐ฉ๐ค๐๐๐ง 2022 ๐๐ฃ๐๐ง๐๐๐จ๐๐ ๐๐ฎ 14.9% ๐ฉ๐ค $602,700
โขslight uptick in sales and inventory
โขinventory remains stable
From our President Karen Dinnie-Smyth
โInventory has remained stable this month and for the first time since May 2022, we see a slight increase in the month over month sales,โ says Victoria Real Estate Board President Karen Dinnie-Smyth. โWe noted last month that the number of sales for September did not necessarily reflect the on-the-ground activity in the marketplace. October sales have shown what the industry has been experiencing, an increase in activity, more sales and well-priced homes receiving plenty of attention โ some receiving multiple offers. If you are considering selling a property, the continually evolving market conditions this month reinforce the need for up-to-date analysis of how to price your home during this type of market. With many micro-markets within the Greater Victoria area conversations with your local REALTORยฎ on how the housing market is performing in your specific area will be crucial to your success.โ
Lisa Davies | REALTORยฎ
Founder, West Coast BC Living
ReMax Camosun-Westshore
๐งLisa@westcoastbcliving.ca
๐250-883-2220
westcoastbcliving.ca
โYour dreams, my missionโ