February 2017 Mid Month Statistics

Thursday, February 16, 2017   /   by Tony Zarsadias

February 2017 Mid Month Statistics

If you're wondering why there are so few listings matching your search criteria, there's a good reason why. At this time last year, there were 2,562 Listings in Greater Victoria through the MLS system. Right now there are 1498. That's a 41.5% decrease in what's available for sale. What's more interesting is that supply is not increasing at a rate high enough to exceed the rates of demand. There have been 344 new listings so far this month, and there were a total of 1160 last month. That's a staggering decrease in new inventory. 

On the bright side of things, there is a great deal of inventory that isn't on MLS or that can't be found through a typical search website (even this one). For example, there are currently 216 condos on the MLS system right now, but there are over 400 condos that we know of that are exclusively listed but aren't on the system. If you're searching for a condo, then you should definitely open up your search to these exclusive listings. Contact a condo expert at The Condo Group to get access.

Victoria Real Estate Board

Tues Feb 14, 2016:

  Feb Feb
  2017 2016
Net Unconditional Sales: 285 772
New Listings: 344 1,160
Active Listings: 1,498 2,562