The New Year began with steady sales and prices of homes and other properties in the Victoria area. There were 493 sales through the Victoria Real Estate Board's Multiple Listing Service® (MLS®) in January, up from 414 sales in December. Sales last month, however, were down 18 percent from the 603 sales in January of last year.

Diana Devlin, President of the Victoria Real Estate Board, says the decline in the number of properties available for sale has had an impact on the number of overall sales. "In 2002 we saw a substantial decline in the inventory of properties available for sale and we are now seeing this reflected in the monthly sales figures." There were 2,124 properties available for sale at the end of last month, down eight percent from a year ago. Devlin adds, however, that the supply of available properties should soon start to increase. "Spring is traditionally an active time for real estate sales and we expect to see more properties coming on the market over the next couple of months."

Meantime, Devlin notes that prices remained stable last month. The average price of single family homes sold in Greater Victoria in January was $284,518. The average for the last six months was $289,503. The average price of all condominium homes sold in January was $179,801. The average for the last six months was $161,243. The average price of all townhomes sold last month was $227,606. The average for the last six months was $222,887.

MLS® sales in Greater Victoria last month included 294 single-family homes, 102 condominiums, 44 townhomes and 15 manufactured homes.

Summary Report and Graphs

These documents are now stored in PDF format. If your browser already has a PDF plug-in like the Adobe Acrobat® Reader, you'll probably be able to simply click on the document you're interested in to view it here online. You can download and install this popular, free software by clicking the yellow icon below.

Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs

For More Information:

Michael Sampson
Manager, Communications & Business Conduct
Phone: +1 (250) 385-7766
Fax: +1 (250) 385-8773
E-Mail: msampson@vreb.org


The use of average price information can be useful in establishing trends when applied over a period of time, i.e. six months or longer. The Victoria Real Estate Board cautions that an average price does not indicate the actual value of any particular property. Those requiring specific information on property values should contact a REALTOR.