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Rising real estate market another sign of spring

3/8/2023

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Seeing tiny buds turn to bright blossoms is a sure sign of spring. Another, at least in Greater Victoria, is the growing buzz around the region's real estate. Sales in February were up 65.5% from the month before — though still down from February 2022.
 
"The market is seeing some positive growth as we move into springtime, which is traditionally the busiest market for home sales," Victoria Real Estate Board Chair Graden Sol said in a media release. "Inventory levels are starting to increase, a welcome trend when compared to the record lows of last year. We're also seeing a stabilization at some price points and properties that are priced in accordance with current market conditions are selling at a good pace."
 
There were 1,809 active MLS listings for sale in Greater Victoria at the end of February. That's up from 849 for the same period in 2022. The benchmark value of a single family home was $1.25 million in February, down from $1.32 million in February 2022. Benchmark value for a condo dropped from $580,900 to $568,200.
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  • Membership
    • Why Join?
    • Job Board
    • Member to Member Offers
    • Benefits, Discounts & Savings >
      • Chamber Store
    • Chamber Local
    • 1863 Impact Award
    • Questions & Answers
    • Join Now
    • Member Login
  • Member Directory
  • Events
    • Signature Events >
      • Annual Auction
      • Business Awards
      • Business Hall of Fame
      • Business Leaders Series
    • Event Calendar >
      • Chamber Events
      • Community Events
    • Event Photos 2023
    • Sponsorship
  • News & Advocacy
    • Weekly BizNews >
      • BizNews Articles
    • Advocacy / Wins for Business >
      • Advocacy Wins
      • Business Property Taxes
      • Advocacy Priorities
    • Chamber Chats
    • In the News >
      • Published Op-Eds
      • Media Releases
    • Non-market housing
    • Find and keep workers
    • Business Matters Magazine
    • COVID-19
  • The Chamber 1863
    • 1863-Indigenous
    • 1863-Early Chamber
    • 1863-History Events
    • 1863-Booms and Busts
    • 1863-Members & Communities
    • 1863-Women, people and organizations
    • 1863-Committees
    • 1863-Chairs and Chair Businesses
  • About Us
    • Emerge >
      • Emerge Events
      • Emerge Mentorship
      • Emerge Connect
    • Staff Directory
    • Board & Governance >
      • Governors
      • By-Laws, Plans & Reports
      • Committees
    • Chamber History
    • Partners & Sponsors
    • About Victoria >
      • Starting a Business
      • Moving Here
      • Visiting Victoria, BC
    • Contact Us