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Victoria, B.C, Real Estate Market Update: April 2021

Photo of Victoria, BC. Canada by 
Armon Arani

Despite the ongoing pandemic, Victoria, B.C, remains a location that many would like to call home. This is the perfect time to sell, and let me tell you why.

No Better Time to Sell

The Victoria Real Estate market is off to a strong start for this year, as we are four months into it with ever-growing consumer demand. As I mentioned last month, the market was on fire, and let me tell you, that fire is still blazing in April. 

The sales-to-active ratio is an easy indicator that can tell you whether the market is in favour of either the buyer or the seller. If it’s below 10 per cent, then it is a buyer’s market, and anything over 25 per cent signals a seller’s market.

This month, the sales-to-active ratio is 95 per cent. With a number like that, it’s obvious that this is the perfect time to sell. The demand for moving into our beautiful Victoria, B.C, is thriving.

“Our market is based on supply and demand and there is a disconnect right now with record-low supply and high demand,” said David Langlois, Victoria Real Estate Board, President. “Desire for homes in a certain market can erupt quickly, while building homes takes years. These realities make it hard to bring our market into balance.”

Market Changes

Last year, the market was pretty quiet mainly due to the initial phases of the COVID-19 pandemic. However, this is not the case for April 2021. This month, 1,116 properties listed on the Victoria Real Estate Board region were sold, indicating a 288.9 per cent increase from April 2020.

The market for single-family homes was hot this month, as there has been a significant increase in both sales and pricing when compared to last year. This month, 564 single-family homes were sold in Victoria, B.C, a 246 per cent increase from last year. Pricing has notably increased when compared to last year’s market at this time, as properties listed on the Victoria MLS have felt increases ranging from 12.6-20.6 per cent.

To put this into perspective, let me highlight an example. A single-family in the Peninsula area was valued at $813,600 at this time last year. This year, the benchmark price of that same home is valued at $981,400, a 20.6 per cent increase in price.

Townhouses in Victoria have also experienced a strong month, especially when you consider the demand and pricing changes from last year. Only 32 townhouses were sold at an average of $599,066 last April. This year, 135 were sold at an average of $712,261, indicating a whopping 321.9 per cent increase in sales and an 18.9 per cent increase in pricing.

Condos for sale in Victoria, B.C, should also be put into the conversation of sales and pricing increases for April 2021. Condo sales are up 353.4 per cent from last year, as 331 units were sold in comparison to last year’s 73. Average pricing has also surged, as a 26.7 per cent increase in listing prices has been observed in comparison to April 2020.


So, let me wrap up. Supply is low and consumer demand is high, meaning that it is the perfect time to sell. We continue to see strong increases in pricing, and with the current demand, the Victoria Real Estate market is a seller’s market.

If you’re looking to sell your home, connect with us for a stress-free experience. Ask us for results, and we deliver even more.

Let’s chat.