Victoria Real Estate | Capital City Group

Real Estate - Real Service

Victoria Real Estate Market Update – February 2022

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Where are all the listings?

Last year January broke the record for lowest inventory for the month of January and this January broke that record nearly in half! A mere 474 properties sold last month which was an 8.2% increase from December 2021 but 26.6% fewer than the 646 properties that sold in January 2021.

We remain in a very strong Sellers Market with our Sales-to-Active Listings ratio at 63% and we foresee this as unlikely to change until there are substantially more properties on the market. It’s starting to feel like Spring is just around the corner, and we are already starting to see more properties coming to market…

Condominium sales outsold sales of single family home sales in January. We finished the month with the average price for a single family home at $1,410,380; average townhouse at $872,661; and average condominium $683,759.

Are you getting ready to sell a property this year? Many of our clients are taking the time to re-evaluate their financial positions. Selling one investment property to pay off and increase cash flow in an overall real estate investment portfolio could be the difference between working full-time and semi-retirement. Or with the equity growth we have seen in the past few years maybe you are able to refinance and invest in a second property to begin your real estate empire? Or purchase that cabin or ski chalet you always wanted? We love talking strategies and helping all our clients achieve their goals as they plan for the future and balance their lives.

Contact us today to set up a zoom meeting or coffee!

Sooke

Just 35 minutes away from Victoria and nestled along the Juan de Fuca coastline lies the growing community of Sooke. The area is a true nature lover’s delight and is known for hiking, kayaking, mountain biking, fishing and other outdoor activities. If you’re looking to live among nature with amazing water and Olympic Mountain views, … » Learn More about Sooke

View Royal

Centrally located, View Royal offers quaint waterfront neighbourhoods and park-like surroundings. Undulating topography filled with trees and forest meadows, View Royal has a unique rural feel while still being close to major urban centers. Homes For Sale in View Royal

Western Communities

Langford & the Westshore Victoria’s Western Communities – commonly referred to as the “Westshore” – includes Colwood, Metchosin and Langford, British Columbia’s fastest growing community. The area prides itself on offering affordable family homes and many local amenities. Home to Canada’s rugby team and several international sports centers (including Bear Mountain Golf & Tennis Resort), … » Learn More about Western Communities