INFOGRAPHICS: July 2021 VREB Victoria Market Reports
Victoria housing inventory continues to decline over summer months
A total of 835 properties sold in the Victoria Real Estate Board region this July, 14.7% fewer than the 979 properties sold in July 2020 and 11.4% fewer than the previous month of June. Condominium sales were up 18.8% from July 2020 with 284 units sold. 16% fewer condominiums sold in July 2021 than in the previous month of June. Sales of single family homes were down 29.2% from July 2020 with 396 sold. 10% fewer single family homes sold in July 2021 than in the previous month of June.
“The real estate story right now continues to be inventory,” said Victoria Real Estate Board President David Langlois. “The market is driven by inventory; and fewer home listings lead to fewer home sales. In that context, these numbers do not reflect a downturn in our market but reveal sales falling due to this continued trend of low inventory.”
The following data is a comparison between July 2020 and July 2021 numbers, and is current as of August 2021. Click here to check out last month’s figures!
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