As real estate prices continue to rise, buying a home in Victoria continues to seem like an impossible dream for many.
Inflated house prices, along with the rental crisis currently happening in the city, can make finding a place to live in Victoria seem like an impossible task.
According to current MLS statistics, the trend in Victoria real estate continues to be low inventory and high prices when it comes to purchasing a home.
The report shows property sales are down 15.1% in August 2021 compared to the same time period last year.
Sales of single family homes are down 29.9% and condo sales are up 31.% compared to August 2020.
At the end of August 2021, there were 56.7% fewer properties on the market compared to August 2020.
The benchmark price for a single family home in August 2020 was $889,800. Today, the price for the same home has increased by 22.4% to $1,089,400.
We continue to find ourselves in a sellers market, because with these prices, who can buy!?
For those who are curious, here are the 5 most expensive homes currently for sale in the Victoria area:
- Price: $3,868,000
- Address: 1000 Terrace Avenue, Rockland, Victoria
- Bedrooms: 7
- Bathrooms: 5
- Ft²: 8,439
- Price: $3,699,000
- Address: 534 Vancouver Street, Fairfield, West Victoria
- Bedrooms: 10
- Bathrooms: 10
- Ft²: 8,365
- Price: $3,499,000
- Address: 1524 Shasta Place, Rockland, Victoria
- Bedrooms: 8
- Bathrooms: 9
- Ft²: 6,971
- Price: $2,400,000
- Address: 1004 Terrace Avenue, Rockland, Victoria
- Bedrooms: 7
- Bathrooms: 5
- Ft²: 4,945
- Price: $2,200,000
- Address: 838 Pemberton Road, Rockland, Victoria
- Bedrooms: 4
- Bathrooms: 4
- Ft²: 4,317
