MONTHLY MARKET UPDATE — OCTOBER 2022 EDITION
I
nventory has remained stable this month and for the first time since May 2022, we are beginning to see a slight increase in the month over month sales. The market continues to evolve and so up-to-date market information is important for everyone who is active in the real estate market. October sales have shown what the industry has been experiencing, an increase in activity, more sales and well-priced homes receiving plenty of attention – some receiving multiple offers.
A total of 480 properties sold in the Victoria Real Estate Board region this October, 35.6 per cent fewer than the 745 properties sold in October 2021 but a 17.1 per cent increase from September 2022. Sales of condominiums were down 39 per cent from October 2021 with 152 units sold. Sales of single family homes decreased 32.2 per cent from October 2021 with 230 sold. There were 2,192 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of
2481 BEACON AVENUE SIDNEY BC V8L1X9 | 1-877-656-0911 REACHUS@HOLMESREALTY.COM | WWW.HOLMESREALTY.COM When you buy or sell a home with Holmes Realty, a portion of the commission goes in support of local charities. Over $250,000 raised!