{"id":16817,"date":"2021-03-02T11:33:16","date_gmt":"2021-03-02T19:33:16","guid":{"rendered":"https:\/\/www.vancouvernewcondos.com\/?p=16817"},"modified":"2021-03-02T11:59:07","modified_gmt":"2021-03-02T19:59:07","slug":"february-2021-victoria-real-estate-board-statistics-package-with-charts-graphs","status":"publish","type":"post","link":"https:\/\/www.vancouvernewcondos.com\/february-2021-victoria-real-estate-board-statistics-package-with-charts-graphs\/","title":{"rendered":"February 2021 Victoria Real Estate Board Statistics Package with Charts &#038; Graphs"},"content":{"rendered":"<p><iframe loading=\"lazy\" style=\"border: 1px solid #CCC; border-width: 1px; margin-bottom: 5px; max-width: 100%;\" src=\"\/\/www.slideshare.net\/slideshow\/embed_code\/key\/d72rTDSLgsmmhS\" width=\"768\" height=\"714\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span> <\/iframe><\/p>\n<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<h1>Victoria Real Estate Market demand surges against limited supply<\/h1>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p>A total of 863 properties sold in the Victoria Real Estate Board region this February, 53.3 per cent more than the 563 properties sold in February 2020 and 33.6 per cent more than the previous month of January. Sales of condominiums were up 65.7 per cent from February 2020 with 290 units sold. Sales of single family homes were up 43.9 per cent from February 2020 with 390 sold.<\/p>\n<p>\u201cOur early spring market is in full swing carrying on from a fast start in January,\u201d said Victoria Real Estate Board President David Langlois. \u201cOur market remains one with tightly constrained inventory and high demand. The good news is that we have seen some stabilization in listings and condo pricing between January and February, but we continue to see huge pressure on single family homes \u2013 new listings are snapped up as soon as they are listed. As a result, the pressure on single family homes continues to ramp up. There is significant competition for desirable homes \u2013 and in our marketplace most homes are desirable \u2013 and people competing for properties pushes prices up.\u201d<\/p>\n<p>There were 1,318 active listings for sale on the Victoria Real Estate Board Multiple Listing Service\u00ae at the end of February 2021, 38 per cent fewer properties than the total available at the end of February 2020 and three properties fewer than the 1,321 active listings for sale at the end of January 2020.<\/p>\n<p>\u201cThe theme for 2021 is going to be inventory &#8211; where does it come from and how much new supply can be approved &#8211; so that this situation does not persist,\u201d adds Langlois. \u201cWe\u2019ve seen the government attempt to influence the housing market in hopes of dampening the demand for home ownership. The foreign buyer tax has changed nothing \u2013 our market continues to zoom forward with almost no foreign buyers. The government adjusted mortgage qualification rules, those are absorbed by the market and buyers adjust. Demand suppression measures have not worked and their failure to moderate housing prices in our community has only exacerbated the pressure on the supply that was constrained ten years ago but is now at historically low levels. If you are concerned about housing prices and availability of housing in general in our community, please support development in your municipality. Be vocal with your local council or neighbourhood association \u2013 these stakeholders hold the power in these negotiations &#8211; and help to make space in your community. Gentle density and the building of new homes are the only pathway to moderate housing prices in our area.\u201d<\/p>\n<p>The Multiple Listing Service\u00ae Home Price Index benchmark value for a single family home in the Victoria Core in February 2020 was $870,300. The benchmark value for the same home in February 2021 increased by 9 per cent to $948,200, a 1.7 per cent increase from the previous month of January. The MLS\u00ae HPI benchmark value for a condominium in the Victoria Core in February 2020 was $525,600, while the benchmark for the same condominium in February 2021 remained close to last year\u2019s value at $525,400, a 0.38 per cent decrease.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><span style=\"color: #222222; font-size: 1em; font-weight: 600; font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol';\">*Editor&#8217;s note<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"text parbase\">\n<div class=\"text parbase\">\n<p>1. Areas covered by the Victoria Real Estate Board include: Victoria, Vancouver Islands<\/p>\n<hr \/>\n<p>Statistics for Related Areas<\/p>\n<ul>\n<li><a href=\"https:\/\/www.vancouvernewcondos.com\/february-2021-fraser-valley-real-estate-board-statistics-package-with-charts-graphs\/\" target=\"_blank\" rel=\"noopener\">Fraser Valley Real Estate Stats <\/a><\/li>\n<li><a href=\"https:\/\/www.vancouvernewcondos.com\/february-2021-real-estate-board-of-greater-vancouver-statistics-package-with-charts-graphs\/\" target=\"_blank\" rel=\"noopener\">Vancouver Real Estate Stats <\/a><\/li>\n<\/ul>\n<p>Statistics from Recent Months<\/p>\n<ul>\n<li><a href=\"https:\/\/www.vancouvernewcondos.com\/january-2021-victoria-real-estate-board-statistics-package-with-charts-graphs\/\" target=\"_blank\" rel=\"noopener\">January 2021 Victoria Real Estate Stats<\/a><\/li>\n<li><a href=\"https:\/\/www.vancouvernewcondos.com\/december-2020-victoria-real-estate-board-statistics-package-with-charts-graphs\/\" target=\"_blank\" rel=\"noopener\">December 2020 Victoria Real Estate Stats<\/a><\/li>\n<li><a href=\"https:\/\/www.vancouvernewcondos.com\/november-2020-victoria-real-estate-board-statistics-package-with-charts-graphs\" target=\"_blank\" rel=\"noopener\">November 2020 Victoria Real Estate Stats<\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff Victoria Real Estate Market demand surges against limited supply A total of 863 properties sold in the Victoria Real Estate Board region this February, 53.3 per cent more than the 563 properties sold in February 2020 and 33.6 per cent more than the previous month of January. Sales of condominiums were up 65.7 per&#8230;<\/p>\n","protected":false},"author":33,"featured_media":16818,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[4026],"tags":[4755,2487,2500,2488,2501,2502,2493,1395,4031,4027,4032,4029],"taxonomy_info":{"category":[{"value":4026,"label":"Victoria Real Estate Board (VREB) Monthly Sales Statistics"}],"post_tag":[{"value":4755,"label":"February 2021 Real Estate News"},{"value":2487,"label":"Home buyer"},{"value":2500,"label":"Housing Demand"},{"value":2488,"label":"Housing 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