The price for a single-family home in Victoria rose slightly from May to June and was 15 per cent higher than June 2016.
The benchmark price for a single-family home in the Victoria core was $829,600-$108,600 more than last June when the same home was valued at $721,000, according to month-end statistics released by the Victoria Real Estate Board released Tuesday.
The benchmark price for a condo in Greater Victoria in June was $420,900, up 22.4 per cent from $343,900 in June 2016. The benchmark price for a townhouse in Greater Victoria was up by 18.5 per cent since June 2016.
The benchmark price looks at homes with similar characteristics like the age of the property, size and location.
The average selling price for a single-family home in Greater Victoria last month was $885, 281. Last June, a single-family home’s average selling price in Greater Victoria was $758,146. In May 2017, the average selling price was $876,910.
Condos had an average selling price of $416,281 in June compared to $366,674 at the same time last year. Townhouses saw a 26.1 per cent jump from last year in average selling price.
Last month, Greater Victoria’s total active listings were down 16.3 per cent compared to last June when there were 2,289 active listings for sale. A total of 1,008 properties sold in the Victoria Real Estate Board region last month, 14.1 per cent fewer than the 1,174 properties sold at this time last year.
Victoria Real Estate Board President Ara Balabanian said the Victoria real esate market is still very active.
This June we counted over one thousand properties sold, while the ten year average for sales in the month of June is 798. If we remove 2016 sales, this June would have been the record breaker,” Balabanian said in a statement.
Victoria Real Estate Board Statistics Package June 2017