{"id":28193,"date":"2023-04-03T19:18:11","date_gmt":"2023-04-04T02:18:11","guid":{"rendered":"https:\/\/www.vancouvernewcondos.com\/?p=24251"},"modified":"2023-05-31T16:50:14","modified_gmt":"2023-05-31T23:50:14","slug":"march-2023-victoria-real-estate-board-statistics-package-with-charts-graphs","status":"publish","type":"post","link":"https:\/\/www.vancouvernewcondos.com\/march-2023-victoria-real-estate-board-statistics-package-with-charts-graphs\/","title":{"rendered":"March 2023 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\/9YRaPxHvRke7kA\" 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; 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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<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<h1>Early spring market reflects consumer confidence and growing demand<\/h1>\n<\/div>\n<\/div>\n<\/div>\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<p>A total of 590 properties sold in the Victoria Real Estate Board region this March, 29.2 per cent fewer than the 833 properties sold in March 2022 but a 28.3 per cent increase from February 2023. Sales of condominiums were down 29.4 per cent from March 2022 with 197 units sold. Sales of single family homes decreased 31.8 per cent from March 2022 with 281 sold.<\/p>\n<p>\u201cWe\u2019ve seen our sales numbers this month almost double from January,\u201d said Victoria Real Estate Board Chair Graden Sol. \u201cAs we move further into spring, we expect that the return to confidence we\u2019ve seen in the market will continue. What we can\u2019t predict is what the overall impact on pricing will be if we continue to see quite low inventory across our community. Some pockets of our market are busier than others &#8211; by working with your REALTOR\u00ae you can better understand the market you are in.\u201d<\/p>\n<p>There were 1,970 active listings for sale on the Victoria Real Estate Board Multiple Listing Service\u00ae at the end of March 2023, an increase of 8.9 per cent compared to the previous month of February and an 85.3 per cent increase from the 1,063 active listings for sale at the end of March 2022.<\/p>\n<p>\u201cDemand is recovering,\u201d adds Sol. \u201cCompared to the end of 2022, prices have firmed up and interest rates have become normalized. Consumers are more active, and we are seeing quite a few multiple offers on well-priced properties. Inventory continues to trend lower than long term averages. As our spring market continues to strengthen, we may start to experience some upward pressure on pricing again. We have been talking about the need for supply to help moderate pricing for a long time. Premier Eby\u2019s announcement this week about the provincial government\u2019s Homes for People action plan reflects an increasing awareness of the importance of supply. We need all levels of government to continue to focus on solving our market housing crunch, so we do not return to the high-pressure markets of the recent past.\u201d<\/p>\n<p>The Multiple Listing Service\u00ae Home Price Index benchmark value for a single family home in the Victoria Core in March 2022 was $1,387,200. The benchmark value for the same home in March 2023 decreased by 10.9 per cent to $1,236,200, down from February\u2019s value of $1,247,200. The MLS\u00ae HPI benchmark value for a condominium in the Victoria Core area in March 2022 was $616,400, while the benchmark value for the same condominium in March 2023 decreased by 9.1 per cent to $560,300, down from the February value of $568,200.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><span style=\"color: #222222; font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1em; font-weight: 600;\">*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\/march-2023-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\/march-2023-real-estate-board-of-greater-vancouver-statistics-package-with-charts-graphs\/\" target=\"_blank\" rel=\"noopener\">Vancouver Real Estate Stats <\/a><\/li>\n<li><a href=\"https:\/\/www.vancouvernewcondos.com\/march-2023-the-okanagan-real-estate-statistics-package-with-charts-graphs\/\" target=\"_blank\" rel=\"noopener\">Okanagan Real Estate Stats <\/a><\/li>\n<\/ul>\n<p>Statistics from Recent Months<\/p>\n<ul>\n<li><a href=\"https:\/\/www.vancouvernewcondos.com\/february-2023-victoria-real-estate-board-statistics-package-with-charts-graphs\/\" target=\"_blank\" rel=\"noopener\">February 2023 Victoria Real Estate Stats<\/a><\/li>\n<li><a href=\"https:\/\/www.vancouvernewcondos.com\/january-2023-victoria-real-estate-board-statistics-package-with-charts-graphs\/\" target=\"_blank\" rel=\"noopener\">January 2023 Victoria Real Estate Stats<\/a><\/li>\n<li><a href=\"https:\/\/www.vancouvernewcondos.com\/december-2022-victoria-real-estate-board-statistics-package-with-charts-graphs\/\" target=\"_blank\" rel=\"noopener\">December 2022 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\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff\ufeff Early spring market reflects consumer confidence and growing demand A total of 590 properties sold in the Victoria Real Estate Board region this March, 29.2 per cent fewer than the 833 properties sold in March 2022 but a 28.3 per cent increase from February 2023. Sales of condominiums were down 29.4 per cent from&#8230;<\/p>\n","protected":false},"author":33,"featured_media":30524,"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":[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":2487,"label":"Home buyer"},{"value":2500,"label":"Housing Demand"},{"value":2488,"label":"Housing Market"},{"value":2501,"label":"Housing 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