Fall stats show uptick in region’s real estate sector

Greater Victoria’s housing market is showing renewed activity as sales and prices ticked up in October.

A total of 617 properties sold in the Victoria Real Estate Board region this October, 11.4% more than in September.

“The local real estate market remains reasonably balanced,” VREB Chair Dirk VanderWal said in a media release. “Single family homes are currently seeing the strongest demand, and this month we saw the highest number of October sales since 2020. However, condo sales were slightly more restrained than single family and townhome sales over the past month. We have not seen a significant decrease in prices as a result, but those shopping for condos will find a good variety to choose from with time to make decisions.”

The benchmark value for a single family home in the Victoria Core in October was $1,276,500, down from September’s value of $1,294,800. The benchmark value for a condominium in the Victoria Core area was $551,000 in October, up from the September value of $547,500.