September 2019 residential real estate update

This is a residential real estate update for September 2019 brought to you by 8X. 

I have updated the sales list and map of single family homes on my website VictoriaMarket.ca, please visit for the most comprehensive tool of sold information in Victo

Victoria Real Estate Board
Mon Sep 30, 2019:

Active listings continue to stagnate since its peak in Spring 2019 

The same time last year there were ~2,650 active listings. In September 2017, two years ago, there were only 1,975 listings for sale. It’s nice to see inventory starting to rise, but we are still at critically low levels compared to the 10 year average and the pace of demand.

There were 26 transactions in the core that sold above asking price that totalled nearly $500,000 above and beyond the ask price. The average premium was $19,000.

The largest premium paid was $80,000 at 1605 Redfern for an updated 4bed/4bath 2,500 sqft character home with a 1 bedroom suite. Goes to show that the niche market for fully updated character homes in central neighbourhoods is strong.

The cheapest home to sell in the core was a 1,100 sqft condo at #202-1124 Esquimalt Road for $227,000. There were 8 freehold condos that sold for under $300k in the core. 

On the high end of the market, Oak Bay lead the way with a 2009 built, 5bed/5bath 4,600 sqft  home at 1219 Hewlett Place for $2,795,000.

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