Hello, Victoria home enthusiasts! Let's dive into the latest trends shaping our beautiful city's real estate landscape. Grab a cup of coffee, and let's explore what's happening in our local market.
Market Momentum: Full Steam Ahead!
The Victoria real estate market has kicked off 2025 with impressive momentum. According to the Victoria Real Estate Board (VREB), January saw a total of 422 properties sold—a significant 23.8% increase compared to January 2024.
Single-Family Homes: The Heart of Victoria's Market
Single-family homes continue to be a cornerstone of Victoria's real estate scene:
Sales Volume: 194 single-family homes sold in January
Year-over-Year Growth: An impressive 19.8% increase from January last year.
For more detailed statistics on single-family homes and other property types across Greater Victoria, visit REALTOR.ca.
First-Time Buyers: Making Their Mark
Condominium sales often serve as an indicator for first-time buyers:
Condo Sales: A notable surge with 146 units sold—a whopping 30.4% increase year-over-year.
For insights into how broader economic factors influence local condo sales and rental markets, check out House Hunt Victoria.
Inventory: A Breath of Fresh Air
One exciting development is the significant increase in inventory:
Active Listings: At an impressive total of 2,395 at the end of January—up by both month-over-month (4.6%) and year-over-year (11.9%) metrics.
To explore current listings across Greater Victoria using MLS® data updated hourly on REALTOR.ca between specific times each day visit here.
Pricing Trends: Steady as She Goes
Home prices showed stability with modest fluctuations across different property types:
Single-Family Homes Benchmark Price: Increased by about $68k compared to December but still reflects steady demand within this segment.
Stability like this creates favorable conditions for both buyers and sellers alike.
What This Means for You
Buyers: With more listings available than recent years past plus stable pricing trends overall—it’s now easier than ever before finding your perfect fit without breaking bank.
Sellers: Strong demand persists especially among certain segments; however strategic pricing remains crucial given increased competition elsewhere across town.
Ready to Dive Deeper?
Get Your Free Home Valuation Report Today!
Contact us at Compass Realty Group via email at info@compassrealty.group or phone at 250-999-3506. Let us guide you through every step towards achieving your real estate goals!
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