Greater Victoria has seen overall growth in the housing market, with a slight bump in single-family homes and a drop in condominium sales in June. (Nina Grossman/News Staff)

Greater Victoria has seen overall growth in the housing market, with a slight bump in single-family homes and a drop in condominium sales in June. (Nina Grossman/News Staff)

Greater Victoria housing market sees positive bump in June

Sales up by 76.8 per cent compared to May

Sales in Greater Victoria’s real estate market have seen a sizable boost from May’s slump and are up by nearly 77 per cent.

A total of 808 properties were sold in the Victoria Real Estate Board’s region in June, up by 9.2 per cent compared to the same month last year and up 76.8 per cent compared to May.

Notably, condominium sales dropped by 3.2 per cent while single-family home sales rose by 16.8 per cent, compared to June 2019.

“If all we do is look at numbers, we see a fairly normal June, in the midst of a very not normal world,” says Sandi-Jo Ayers, Victoria Real Estate Board president.

READ MORE: Real estate sales in Greater Victoria drop almost 60 per cent in April

“The impact of COVID-19 on our entire economy continues. Because of the pandemic, an eviction order that prohibited a landlord from ending a tenancy was introduced. The order may have kept some homes from going to market. The portion of this order that prevented a seller from providing vacant possession of a tenanted home was lifted late this month, which may bring some listings to market that had been stalled.”

Ayers notes some demand may have been pushed forward, as the Canada Mortgage and Housing Corporation (CMHC) announced a tightening of mortgage insurance rules, which came into effect on July 1. Those changes, she says, mostly affected the condo market.

“These are not normal days for local real estate, nor is this month a signal of a return to normal, regardless of the numbers.”

The benchmark value of a single-family home in the Victoria core increased slightly to $896,200, up from $885,400 or by 1.2 per cent compared to May.

ALSO READ: Greater Victoria home sales drop after pandemic declared


@iaaronguillen
Like us on Facebook and follow us on Twitter.

aaron.guillen@goldstreamgazette.com

Real estateVictoria

Just Posted

While recovering several items reported stolen from the set of a Netflix movie in early April, West Shore RCMP also seized drugs and drug trafficking items from a Colwood residence last week. (Black Press Media file photo)
Electronics, credit cards taken from Neflix set found in Colwood home

West Shore RCMP seize stolen items, drugs, trafficking materials

An elderly man having a medical emergency in Mount Douglas Park on May 13 was rescued by firefighters and paramedics with the help of ATVs. (Devon Bidal/News Staff)
Rescue team uses ATVs get man in medical distress out of Saanich park and to hospital

Cedarhill Road closed as firefighters, paramedics rescue man in Mount Douglas Park

Pathfinders and Wild Wise Sooke built slim, black bat houses to be hung around Sooke. (Submitted/Wild Wise Sooke)
Sooke teens build bat condos

Wild Wise Sooke says bats will sleep, hibernate and raise their young in the boxes

B.C. Centre for Disease Control data showing new cases by local health area for the week of May 2-8. (BCCDC image)
Vancouver Island COVID-19 local case counts the lowest they’ve been all year

On some areas of Island, more than 60 per cent of adults have received a vaccine dose

Prince Rupert was one of the first B.C. communities targeted for mass vaccination after a steep rise in infections. Grey area marks community-wide vaccine distribution. (B.C. Centre for Disease Control)
B.C. tracks big drop in COVID-19 infections after vaccination

Prince Rupert, Indigenous communities show improvement

Anyone with information on any of these individuals is asked to call 1-800-222-TIPS (8477) or visit the website victoriacrimestoppers.ca for more information.
Greater Victoria Crime Stoppers wanted list for the week of May 11

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Municipal governments around B.C. have emergency authority to conduct meetings online, use mail voting and spend reserve funds on operation expenses. (Penticton Western News)
Online council meetings, mail-in voting option to be extended in B.C.

Proposed law makes municipal COVID-19 exceptions permanent

A nurse prepares a dose of the COVID-19 vaccine in Kelowna on Tuesday, March 16. (Phil McLachlan/Black Press)
British Columbians aged 20+ can book for vaccine Saturday, those 18+ on Sunday

‘We are also actively working to to incorporate the ages 12 to 17 into our immunization program’

The AstraZeneca-Oxford University vaccine. (AP/Eranga Jayawardena)
2nd person in B.C. diagnosed with rare blood clotting after AstraZeneca vaccine

The man, in his 40s, is currently receiving care at a hospital in the Fraser Health region

Canada’s demo Hornet soars over the Strait of Georgia near Comox. The F-18 demo team is returning to the Valley for their annual spring training. Photo by Sgt. Robert Bottrill/DND
F-18 flight demo team returning to Vancouver Island for spring training

The team will be in the Comox Valley area from May 16 to 24

Ladysmith RCMP safely escorted the black bear to the woods near Ladysmith Cemetary. (Town of Ladysmith/Facebook photo)
Bow-legged bear returns to Ladysmith, has an appointment with the vet

Brown Drive Park closed as conservation officers search for her after she returned from relocation

Brian Peach rescues ducklings from a storm drain in Smithers May 12. (Lauren L’Orsa video screen shot)
VIDEO: Smithers neighbours rescue ducklings from storm drain

Momma and babies made it safely back to the creek that runs behind Turner Way

Most Read