Victoria is our capital and is a popular destination for those thinking of moving to Vancouver Island since it is the major city on the island and therefore offers the best employment opportunities.
The house prices in the Greater Victoria area over the last month are shown below. Prices are median ones, which generally gives the best indication of typical house prices:
- Central Saanich $525,000
- Colwood $455,000
- Esquimalt $450,500
- Highlands $1,090,000
- Langford $556,250
- Metchosin $433,500
- North Saanich $783,750
- Oak Bay $684,500
- Saanich East $576,500
- Saanich West $531,000
- Sidney $430,000
- Sooke $433,700
- Victoria $514,550
- Victoria West $464,250
- View Royal $616,250
- Waterfront (all districts) $1,412,500
- Total Greater Victoria $530,000
The number of property sales throughout Greater Victoria rose in November. Prices, meantime, remained mixed with gains for condominiums but some declines for single family homes and townhomes. A total of 479 homes and other properties sold in November through the Victoria Real Estate Board’s Multiple listing Service® (MLS®), up slightly from the 467 sales in October. There were 604 sales in November of last year.
The number of sales has now risen for two consecutive months. The further increase in sales in November adds more weight to our belief that the market has now returned to a stable, balanced state. With declining inventories, some further increase in sales can be expected next year while prices will likely remain stable. There were 3,723 properties available for sale at the end of November – a decline of some 300 properties compared to October though still 25 per cent higher than a year ago.
The median price for single-family homes sold in Greater Victoria last month declined to $530,000. There were 20 single family home sales of over $1 million in November including one sale in Oak Bay of over $5 million. There were 12 sales of over $1 million in October. The median price for condominiums in November rose to $290,000. The median price of all townhomes sold last month declined to $395,000.
MLS® sales last month included 264 single family homes, 123 condominiums, 47 townhomes and 17 manufactured homes.
Want more information? Get in touch and we or our partners in the area will let you have up to date information.