Jump to content

      



























Photo

Victoria Real-Estate Board statistics with Ryan Cook


  • Please log in to reply
240 replies to this topic

#61 Barrister

Barrister
  • Member
  • 1,251 posts

Posted 28 October 2024 - 02:20 PM

Do we have a breakdown of condo v SFH sales?



#62 Ryan Cook

Ryan Cook
  • Member
  • 190 posts
  • LocationVictoria, BC

Posted 28 October 2024 - 03:59 PM

Sold / Pending between Oct 1 - Oct 28

 

SFH - 242

 

Condo - 191



#63 Mike K.

Mike K.
  • Administrator
  • 90,606 posts

Posted 28 October 2024 - 04:30 PM

SFDs still #1. There was one month a few years ago where condos outsold SFDs. It had never happened before, and since, but it has come close a few times.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#64 Barrister

Barrister
  • Member
  • 1,251 posts

Posted 28 October 2024 - 05:52 PM

I would have thought that there is a much greater inventory of condos over houses these days. Do we know how the inventory breaks down?



#65 Ryan Cook

Ryan Cook
  • Member
  • 190 posts
  • LocationVictoria, BC

Posted 29 October 2024 - 08:10 AM

@Barrister - yes you are right 

 

City of Victoria Only 

 

81 SF

 

341 Condo 

 

Greater Victoria 

 

1012 SF

 

882 Condo



#66 Barrister

Barrister
  • Member
  • 1,251 posts

Posted 29 October 2024 - 08:12 AM

Thanks Ryan, you are great with the stats.



#67 Ryan Cook

Ryan Cook
  • Member
  • 190 posts
  • LocationVictoria, BC

Posted 01 November 2024 - 08:35 AM

Screen Shot 2024-11-01 at 9.34.37 AM.png



#68 Barrister

Barrister
  • Member
  • 1,251 posts

Posted 01 November 2024 - 08:39 AM

Been a good month overall but not sure where prices are heading.



#69 Ryan Cook

Ryan Cook
  • Member
  • 190 posts
  • LocationVictoria, BC

Posted 01 November 2024 - 08:45 AM

A few more rate cuts as predicted should lead to a busy Spring Market 



#70 Barrister

Barrister
  • Member
  • 1,251 posts

Posted 01 November 2024 - 08:48 AM

The rate cuts may be a bit slower than anticipated since the loonie is starting to look shakey, we under 72. Better idea in a month. 


  • Ryan Cook likes this

#71 Ryan Cook

Ryan Cook
  • Member
  • 190 posts
  • LocationVictoria, BC

Posted 01 November 2024 - 09:08 AM

Good article speaking to the presale market right now 

 

https://storeys.com/...canada/?draft=1



#72 Ryan Cook

Ryan Cook
  • Member
  • 190 posts
  • LocationVictoria, BC

Posted 01 November 2024 - 11:10 AM

Victoria market exceeds expectations but remains balanced 

 

A total of 654 properties sold in the Victoria Real Estate Board region this October, 60.7 per cent more than the 407 properties sold in October 2023 and a 14.5 per cent increase from September 2024. Sales of condominiums were up 32.6 per cent from October 2023 with 187 units sold. Sales of single family homes increased by 76.2 per cent from October 2023 with 340 sold. 

 

“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, so it’s a great idea to consult with your favourite local REALTOR® to discuss the current market.”

 

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in October 2023 was $1,310,100. The benchmark value for the same home in October 2024 decreased by 0.8 per cent to $1,300,200, up from September’s value of $1,279,700. The MLS® HPI benchmark value for a condominium in the Victoria Core area in October 2023 was $578,800 while the benchmark value for the same condominium in October 2024 decreased by 5.4 per cent to $547,800, down from the September value of $553,400.



#73 Victoria Watcher

Victoria Watcher

    Old White Man On A Canadian Island

  • Member
  • 65,109 posts

Posted 01 November 2024 - 11:13 AM

Thanks, Ryan.   :wave:



#74 Victoria Watcher

Victoria Watcher

    Old White Man On A Canadian Island

  • Member
  • 65,109 posts

Posted 01 November 2024 - 11:21 AM

If we’re in an affordability sweet spot, why aren’t aspiring homebuyers jumping in?

 

Deals may not last long – there’s plenty of precedent to suggest that home prices are poised to skyrocket


#75 Citified.ca

Citified.ca
  • Administrator
  • 2,399 posts
  • LocationVictoria, BC

Posted 01 November 2024 - 02:20 PM

Ryan and I had a chat about the market in October. There is definitely more activity out there, but it appears to be from pent-up demand pulling the trigger as buyers can only wait so long for the perfect deal.

 

Victoria's real-estate sales surged 60% in October as mortgage rates fell

https://victoria.cit...age-rates-fell/


Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.

#76 Ismo07

Ismo07
  • Member
  • 6,212 posts

Posted 01 November 2024 - 03:02 PM

Might be at the perfect deal stage right now...  If sales start 'surging', I think prices go up and up.



#77 Mike K.

Mike K.
  • Administrator
  • 90,606 posts

Posted 02 November 2024 - 07:20 AM

Now’s the time to make a move, yes.

Especially if you have a property in your sights with a 30-90 day DOM. This is also a good time of the year as demand is at its lowest point. So if you find a diamond in the rough I say go for sure (a lot of lame listings are out there in the fall and winter, people tend to save the best for spring).

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#78 Ryan Cook

Ryan Cook
  • Member
  • 190 posts
  • LocationVictoria, BC

Posted 04 November 2024 - 09:23 AM

Screen Shot 2024-11-04 at 9.22.21 AM.png



#79 Ryan Cook

Ryan Cook
  • Member
  • 190 posts
  • LocationVictoria, BC

Posted 12 November 2024 - 10:37 AM

Screen Shot 2024-11-12 at 10.36.25 AM.png



#80 Ryan Cook

Ryan Cook
  • Member
  • 190 posts
  • LocationVictoria, BC

Posted 18 November 2024 - 09:18 AM

Screen Shot 2024-11-18 at 9.17.42 AM.png

 

 

Ryan Cook

REALTOR® | RE/MAX Camosun

ryan@ryancookrealestate.ca
250-886-9398
VictoriaRealtor.ca


You're not quite at the end of this discussion topic!

Use the page links at the lower-left to go to the next page to read additional posts.
 



1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users