604-725-1000 Value of properties sold as of Jul 23, 2024: $1.4 Billion +

Victoria, Vancouver Island Summer Real Estate

It’s been an interesting summer for BC real estate! Summer was definitely a hot time of year for lower mainland and Fraser Valley real estate sales.

Last month, we reported that Vancouver and lower mainland real estate heated up with the busiest July since 2009 according to the Real Estate Board of Greater Vancouver (REBGV). July 2013 sales were over 40% higher than July 2012 sales and over 11% higher than June 2013. We also reviewed numbers from the Fraser Valley Real Estate Board (FVREB), looking at the boost in summer sales and listings over the month July, seeing an increase of 5% compared to July 2012 and an increase of 10% compared to June 2013.

When we look at summer statistics from the Victoria Real Estate Board, we see that Vancouver Island is no exception to this trending surge in real estate sales across BC.

“Sales numbers are slightly lower than in June, but that’s part of our normal summer market cycle. When seasonally adjusted, our market activity remains strong for this time of year,” says Shelley Mann, Board President. “Despite the brisk activity, we continue to see housing prices remain flat,” Mann says. “With fewer properties listed at the end of July, we are still narrowly into a balanced market.”

The Board reported that MLS® listed 583 sales in July from 4,772 active listings at month end, with a sales-to-active-listings ratio of 15% (a balanced market is typically defined as a ratio between 15 and 20%).

When compared to Victoria sales in July 2012, the numbers for July 2013 show that Victoria has experienced a year-over-year 17.7% increase.

Mann also reports that sellers are now seeing multiple offers on some properties, although the offers are not always over the asking price, which illustrates the importance of consulting a REALTOR® to gain customized insight to obtain the optimum price.

One Flat Fee offers expert real estate services on a flat-fee basis, with the option of purchasing an MLS® listing a la carte. Combine this with One Flat Fee’s expertise in Victoria real estate, and you will ensure that you obtain the best price for your property. One Flat Fee offers discount real estate services for Victoria neighbourhoods including downtown, Fairfield, Fernwood, Harris Green, Jubilee, North Park, Rockland, Oaklands, Quadra Village, and Vic West. One Flat Fee also specializes in surrounding areas, like Oak Bay, Esquimalt, and Saanich.

The benefits of using a discount Realtor® are numerous for both home sellers, as a discount REALTOR® lets consumers choose the services they need a la carte, so sellers get exactly what they want and don’t pay for services they don’t need. Services include MLS® listings for one flat fee, up to full-service real estate services. One Flat Fee also offers perks like cash-back home buying, providing the buyer with cash back on their purchase.

Home to a diverse urban centre with surrounding suburban areas, One Flat Fee is your island discount real estate specialist, with sales in luxury buildings, condos, townhomes, and homes across the Greater Victoria and Capital Regional District area.