November 1, The Victoria real estate market s return to balance not linear, but also not unexpected

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PRESIDENT Kyle Kerr PRESIDENT ELECT Cheryl Woolley SECRETARY TREASURER David Langlois PAST PRESIDENT Ara Balabanian DIRECTORS Jackie Adkins Sandi-Jo Ayers Bill Ethier Karen Dinnie-Smyth Andrew Plank

1 PRESIDENT Kyle Kerr PRESIDENT ELECT Cheryl Woolley SECRETARY TREASURER David Langlois PAST PRESIDENT Ara Balabanian DIRECTORS Jackie Adkins Sandi-Jo Ayers Bill Ethier Karen Dinnie-Smyth Andrew Plank EXECUTIVE OFFICER David Corey November 1, 218 The Victoria real estate market s return to balance not linear, but also not unexpected A total of 598 properties sold in the Victoria Real Estate Board region this October, 9.9 per cent fewer than the 664 properties sold in October of last year, but a 12.2 per cent increase from September 218. Sales of condominiums were down 15.5 per cent from last year in October with 18 units sold, but up 2.8 per cent when compared to September 218. Sales of single family homes were down 14.7 per cent from 217 with 289 sold this October, 1.4 per cent more than the previous month. We continue to see the housing market shift into a more balanced state, though the trajectory is not smooth, says Victoria Real Estate Board President Kyle Kerr. This month had slower sales compared to last year and a slightly lower level of inventory coming into the market, but it also had an increase in sales from last month, which may surprise some people. The moderating changes over last year have been punctuated with some competition and price pressure on lower and mid-priced homes while the upper end of the market has softened slightly. Right now pricing is key across all segments as we transition to a more balanced market. There were a total of 2,51 active listings for sale on the Victoria Real Estate Board Multiple Listing Service at the end of October 218, an increase of 31.8 per cent compared to October 217 but 5.1 per cent fewer than the month previous. The market is definitely reacting to the changes in mortgage lending requirements, adds President Kerr. Lending was made tougher to dampen the market and these measures have certainly had an impact on purchasing power. The threat of the looming Speculation and Vacancy tax has also cooled development in our area, which is unfortunate because the only way to create affordable homes in our area is to build them. We hope that moving forward the municipal, provincial and federal governments will work collaboratively to enable more supply at all levels of housing by funding public / private partnerships to support the increase of home stock in our area. We hope that aside from taxation and mortgage rules, governments will work together to ensure a future supply in our area to stabilize prices in the long term. The Multiple Listing Service Home Price Index benchmark value for a single family home in the Victoria Core in October 217 was $83,1, while the benchmark value for the same home in October 218 increased by 6.1 per cent to $881,, slightly lower than September's value of $883,7. The MLS HPI benchmark value for a condominium in the Victoria Core area in October 217 was $457,5, while the benchmark value for the same condominium in October 218 increased by 9.86 per cent to $52,6, slightly less than September's value of $53,. About the Victoria Real Estate Board Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards and innovative programs to enhance the professionalism of REALTORS. The Victoria Real Estate Board represents 1,371 local Realtors. If you are thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing market. Contact: Communications Manager, Denise Hogue - dhogue@vreb.org / Victoria Real Estate Board VICTORIA REAL ESTATE BOARD 335 Nanaimo Street Victoria, BC V8T 4W2 T F

2 October 218 Statistics Package for Media 1-Nov-218 Previous Periods Comparison of Unit Sales, Average Prices and Median Prices Sales by Property Type Single Family Greater Victoria Single Family Other Areas Single Family Total All Areas Condos Townhouses Manufactured Homes Total Residential Total Sales Units LM LY This Month Last Month This Month October September October Average$ LM LY Median$ LM LY Units Average$ Median$ Units Average$ Median$ $921, $829, $92,825 $789, $854,833 $767,25 $63, $525, $75,84 $577,5 45 $55,237 $535, $883, $799, $881,593 $765,5 339 $814,4 $745,5 $461, $42, $484,162 $49, 213 $449,176 $37,5 $638, $578, $586,629 $56, 7 $555,496 $51, $25, $255, $172,927 $164, 11 $185,39 $165, Active Listings 2, ,646 1,95 Legend Units: net number of listings sold LM: percentage change since Last Month LY: percentage change since This Month Average$: average selling price Median$: median selling price Active Listings: total listings on the market at midnight on the last day of the month Previous Periods Comparison of MLS HPI Benchmark Prices and MLS HPI Index Values Previous Periods Comparison of MLS HPI Benchmark Prices and MLS HPI Index Values Commonly Quoted Benchmark Home October 218 Benchmark Price September 218 Benchmark Price October 217 Benchmark Price October 218 Index Value September 218 Index Value October 217 Index Value LM LY Single Family Benchmark Home: Greater Victoria $765,3 $768,2 $713, Single Family Benchmark Home: Core $881, $883,7 $83, Single Family Benchmark Home: Westshore $618,9 $622,9 $583, Single Family Benchmark Home: Peninsula $84,6 $86,6 $746, Condo Benchmark Home: Greater Victoria $495,6 $495, $448, Townhouse Benchmark Home: Greater Victoria $588,9 $586,9 $558, Legend Current Month: October 218 Last Month: September 218 : October 217 LM: Percentage change between current month and last month LY: Percentage change between current month and same month last year Victoria Real Estate Board October 218 Statistics

Total new MLS listings and total MLS sales for entire district Sales to Active Listings Ratio 9 8 7 6 5 4 3 2 1 Oct 216 Nov 216 Dec 216 Jan 217 Feb 217 Mar 217 Apr 217 May 217 Jun 217 Jul 217 Aug 217

3 Total new MLS listings and total MLS sales for entire district Sales to Active Listings Ratio Oct 216 Nov 216 Dec 216 Jan 217 Feb 217 Mar 217 Apr 217 May 217 Jun 217 Jul 217 Aug 217 Sep 217 Oct 217 Nov 217 Dec 217 Jan 218 Feb 218 Mar 218 Apr 218 May 218 Jun 218 Jul 218 Aug 218 Sep 218 Oct 218 This chart tracks the ratio of total residential sales over total active residential listings at month-end for each of the last 25 months. The active listing count and the sales count can be viewed as indicators of housing supply and demand respectively. Observing the ratio between them can thus help indicate a "buyers' market", where there is downward pressure on prices, and a "sellers' market", where there is upward pressure on prices. - below 1, there is downward pressure on prices (buyers' market) - above 25, there is upward pressure on prices (sellers' market) - in the 15-2 range, there is little pressure on prices either way (balanced market) Victoria Real Estate Board October 218 Statistics

4 MLS HPI benchmark and value - Single Family Homes The Victoria Real Estate Board uses the MLS Home Price Index (MLS HPI) to report on market trends. The MLS HPI uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Through the analysis of over ten years of Victoria Real Estate Board MLS sales data, the MLS HPI defined benchmark homes for Victoria in each category (single family homes, townhouses, condos) and for each neighbourhood. The benchmark starting point was 25, where each type of property and neighbourhood was assigned an index value of 1. Victoria Real Estate Board October 218 Statistics

5 MLS HPI benchmark and value - Condominium / Apartments Victoria Real Estate Board October 218 Statistics

6 HPI or Benchmark (Applies to all tabs) HPI Benchmark Value or percent change (Applies only to this tab) Value Percent change Area VREB District Summary Property Type Single Family - All Benchmark by Timeframe and Property Type: Single Family - All Victoria REB Victoria Victoria West Oak Bay Esquimalt View Royal Saanich East Saanich West Sooke Langford Metchosin Colwood Highlands North Saanich Sidney Central Saanich ML Malahat & Area GI Gulf Islands October Month Ago 3 Months Ago 6 Months Ago 12 Months Ago 36 Months Ago 6 Months Ago January 25 $765,3 $851, $669,8 $747,6 $895,9 $757,7 $912,2 $852,6 $848, $9,3 $917,2 $859,9 $926,7 $957,6 $966,4 $949,8 $766,7 $768,2 $674,1 $647,4 $645,7 $62,3 $748,9 $755,4 $632,4 $71,5 $695,1 $672,5 $671,5 $911,7 $97, $945, $865,7 $843,8 $86, $767,1 $766, $679,5 $657,4 $738,4 $763,7 $631,2 $712,6 $667, $743,2 $754,2 $83,9 $87,5 $643,2 $628,5 $717,5 $74,7 $626,8 $686, $983, $695, $756, $713,1 $611,8 $1,286,6 $1,315,3 $1,265,1 $1,32,1 $1,172,3 $513,9 $591,8 $525,2 $59,9 $57, $599,2 $51,9 $584,9 $495,8 $522,4 $551,5 $451,5 $598,1 $691,4 $853,7 $716,1 $48,3 $589, $85,7 $648,6 $84,4 $878,2 $621,4 $721, $52,6 $458,2 $537, $587,9 $457,3 $842,3 $461, $513,1 $632, $518,6 $357,6 $444,7 $623, $482, $639, $685,2 $476,1 $553,6 $41,2 $354,7 $492,3 $536,2 $42,2 $754,5 $422,3 $51,2 $563,4 $491,6 $342,2 $423,4 $61,7 $456,8 $593,5 $67,2 $421,1 $55,8 $36,1 $331,4 $357,8 $371,6 $283, $552, $286,7 $33,8 $394,5 $333,1 $264,9 $39,7 $455,4 $337,1 $437,7 $487,3 $321,5 $356,9 $285,8 $291,5 Source: Victoria Real Estate Board

7 HPI or Benchmark (Applies to all tabs) HPI Benchmark Value or percent change (Applies only to this tab) Value Percent change Area VREB District Summary Property Type Single Family - All HPI by Timeframe and Property Type: Single Family - All Victoria REB Victoria Victoria West Oak Bay Esquimalt View Royal Saanich East Saanich West Sooke Langford Metchosin Colwood Highlands North Saanich Sidney Central Saanich ML Malahat & Area GI Gulf Islands October Month Ago 3 Months Ago 6 Months Ago 12 Months Ago 36 Months Ago 6 Months Ago January Source: Victoria Real Estate Board

8 HPI or Benchmark (Applies to all tabs) HPI Benchmark Value or percent change (Applies only to this tab) Value Percent change Area VREB District Summary Property Type Condo Apartment Benchmark by Timeframe and Property Type: Condo Apartment October Month Ago 3 Months Ago 6 Months Ago 12 Months Ago 36 Months Ago 6 Months Ago January 25 Victoria REB $495,6 $495, $497,7 $497,5 $448,8 $316,3 $293,4 $26,2 Victoria $462,1 $468,4 $468,4 $475,7 $424,1 $288,2 $269,8 $191,1 Victoria West $786,9 $784,9 $86,6 $82,8 $745,6 $537,9 $431,2 $338,8 Oak Bay $577,2 $58,5 $569,1 $528,6 $515,2 $338,8 $329,7 $253, Esquimalt $35,2 $352,4 $357,4 $368,4 $333,1 $259,3 $23,1 $155,7 View Royal $481,8 $476,1 $471,5 $474,8 $433,9 $324,4 $34,8 $217,7 Saanich East $435,8 $425,8 $436, $414,8 $381,2 $273,7 $261,1 $169,7 Saanich West $422,6 $414, $427,2 $418,4 $377, $275,9 $257,4 $162,5 Langford $393,2 $387,7 $383,7 $385,4 $349,6 $254, $251,2 $177,4 Colwood $413,9 $46,6 $399,6 $47,6 $365,2 $258,3 $255,4 $166,8 Sidney $488,6 $487,4 $479,1 $475,3 $423,8 $34,1 $266,4 $21,8 Central Saanich $488,8 $486,6 $481,2 $477,7 $427,4 $32,1 $276,1 $25,3 Source: Victoria Real Estate Board

9 HPI or Benchmark (Applies to all tabs) HPI Benchmark Value or percent change (Applies only to this tab) Value Percent change Area VREB District Summary Property Type Condo Apartment HPI by Timeframe and Property Type: Condo Apartment October Month Ago 3 Months Ago 6 Months Ago 12 Months Ago 36 Months Ago 6 Months Ago January 25 Victoria REB Victoria Victoria West Oak Bay Esquimalt View Royal Saanich East Saanich West Langford Colwood Sidney Central Saanich Source: Victoria Real Estate Board

10 HPI or Benchmark (Applies to all tabs) HPI Benchmark Value or percent change (Applies only to this tab) Value Percent change Area VREB District Summary Property Type Townhouse Benchmark by Timeframe and Property Type: Townhouse October Month Ago 3 Months Ago 6 Months Ago 12 Months Ago 36 Months Ago 6 Months Ago January 25 Victoria REB $588,9 $586,9 $581,8 $57,4 $558,2 $44,9 $388,4 $284,3 Victoria $632,1 $62,6 $622,9 $589,8 $61, $412, $44,8 $287,7 Victoria West $631,6 $623,7 $632,4 $622,7 $568, $42,1 $399,1 $247,6 Esquimalt $534,9 $528,1 $524,1 $527,4 $53, $341,5 $341,5 $234,7 View Royal $637,1 $631,7 $617,4 $616,6 $598, $399,1 $38,7 $265,3 Saanich East $723,9 $78,9 $729,7 $713, $691,5 $55,4 $474,3 $341, Saanich West $578,8 $562,4 $577,1 $571,2 $546,5 $47,3 $382,8 $268,8 Sooke $474,7 $493,4 $456,3 $461,9 $454,5 $312,4 $314,2 $256,1 Langford $497,4 $512,1 $478,6 $48,2 $467,1 $331,9 $333,7 $261,5 Colwood $622,7 $636,4 $62,6 $62,9 $599,2 $42,2 $395,8 $334,6 Sidney $578,5 $557,5 $589,6 $572,3 $557,2 $414,3 $388,5 $269,6 Central Saanich $52,5 $497,7 $523,7 $56,5 $491,3 $364,8 $338,1 $245,5 ML Malahat & Area $536,2 $559,5 $548,9 $58,1 $481,5 $356,2 $318,3 $295,6 GI Gulf Islands $459,2 $485,1 $473,2 $458,3 $448,3 $352,6 $328,6 $33,7 Source: Victoria Real Estate Board

11 HPI or Benchmark (Applies to all tabs) HPI Benchmark Value or percent change (Applies only to this tab) Value Percent change Area VREB District Summary Property Type Townhouse HPI by Timeframe and Property Type: Townhouse October Month Ago 3 Months Ago 6 Months Ago 12 Months Ago 36 Months Ago 6 Months Ago January 25 Victoria REB Victoria Victoria West Esquimalt View Royal Saanich East Saanich West Sooke Langford Colwood Sidney Central Saanich ML Malahat & Area GI Gulf Islands Source: Victoria Real Estate Board

12 HPI or Benchmark (Applies to all tabs) HPI Benchmark Area VREB Area Summary Benchmark Performance over Time Select Date Range: All values Area/Property Type Selection Tool To Select Multiple Options: Hold CTRL and click the selections below Property Type Benchmark ($) 8, 6, 4, Select the red marker(s) from the Area/Property Type Selection Tool Matrix on the right to graph your selection. Area Victoria REB Core Single Family - All Single Family - 1 Storey Single Family - 2 Storey Townhouse Condo Apartment Composite Westshore Jan 26 Jan 28 Jan 21 Jan 212 Jan 214 Jan 216 Jan 218 Peninsula Core Single Family - All Peninsula Single Family - All Victoria REB Single Family - All Westshore Single Family - All Gulf Islands Source: Victoria Real Estate Board Malahat & Area

13 HPI or Benchmark (Applies to all tabs) HPI Benchmark Area VREB Area Summary Benchmark Performance over Time Select Date Range: All values Benchmark ($) 5, 4, 3, 2, Select the red marker(s) from the Area/Property Type Selection Tool Matrix on the right to graph your selection. Area/Property Type Selection Tool To Select Multiple Options: Hold CTRL and click the selections below Area Victoria REB Core Single Family - All Single Family - 1 Storey Property Type Single Family - 2 Storey Townhouse Condo Apartment Composite Westshore Jan 26 Jan 28 Jan 21 Jan 212 Jan 214 Jan 216 Jan 218 Peninsula Core Condo Apartment Peninsula Condo Apartment Victoria REB Condo Apartment Westshore Condo Apartment Gulf Islands Source: Victoria Real Estate Board Malahat & Area

14 HPI or Benchmark (Applies to all tabs) HPI Benchmark Area VREB Area Summary Benchmark Performance over Time Select Date Range: All values Area/Property Type Selection Tool To Select Multiple Options: Hold CTRL and click the selections below Property Type Benchmark ($) 6, 5, 4, 3, Select the red marker(s) from the Area/Property Type Selection Tool Matrix on the right to graph your selection. Area Victoria REB Core Single Family - All Single Family - 1 Storey Single Family - 2 Storey Townhouse Condo Apartment Composite Westshore Jan 26 Jan 28 Jan 21 Jan 212 Jan 214 Jan 216 Jan 218 Peninsula Core Townhouse Peninsula Townhouse Victoria REB Townhouse Westshore Townhouse Gulf Islands Source: Victoria Real Estate Board Malahat & Area

HPI or Benchmark (Applies to all tabs) HPI Benchmark Area VREB Area Summary Benchmark Performance over Time Select Date Range: All values 8, Area/Property Type Selection Tool To Select Multiple

15 HPI or Benchmark (Applies to all tabs) HPI Benchmark Area VREB Area Summary Benchmark Performance over Time Select Date Range: All values 8, Area/Property Type Selection Tool To Select Multiple Options: Hold CTRL and click the selections below Property Type Benchmark ($) 6, 4, Select the red marker(s) from the Area/Property Type Selection Tool Matrix on the right to graph your selection. Area Victoria REB Core Single Family - All Single Family - 1 Storey Single Family - 2 Storey Townhouse Condo Apartment Composite 2, Westshore Jan 26 Jan 28 Jan 21 Jan 212 Jan 214 Jan 216 Jan 218 Peninsula Source: Victoria Real Estate Board Victoria REB Condo Apartment Single Family - All Townhouse Gulf Islands Malahat & Area

16 Monthly Sales Summary Thursday, November 1, 218 October 218 Region District Residential Single Family Greater Victoria Units Total Volume Victoria 33 $33,447,5 Victoria West 1 $95, Oak Bay 16 $2,788, Esquimalt 6 $5,3, View Royal 11 $7,781,35 Saanich East 47 $48,614, Saanich West 19 $16,3,5 Central Saanich 16 $12,839, North Saanich 8 $8,719,8 Sidney 1 $8,251,6 Highlands 1 $622,5 Colwood 12 $8,87,7 Langford 37 $26,522,676 Metchosin 3 $3,11, Sooke 21 $1,844,881 Waterfront (all districts) 11 $19,459,997 Total Greater Victoria 252 $232,125,459 Other Areas Shawnigan Lake / Malahat 3 $1,767,3 Gulf Islands 2 $11,2, UpIsland / Mainland 1 $4,91,2 Waterfront (all districts) 4 $5,658,3 Total Other Areas 37 $23,346,8 Total Single Family 289 $255,472,259 Condominium Greater Victoria Victoria 63 $27,34,7 Victoria West 18 $11,27,4 Oak Bay 2 $1,624, Esquimalt 9 $3,762,3 View Royal 3 $1,247,4 Saanich East 22 $1,81,7 Saanich West 1 $5,1,7 Central Saanich 2 $1,46,9 North Saanich 1 $549,9 Sidney 11 $4,97,5 Colwood 2 $977,5 Langford 25 $9,82,9 Waterfront (all districts) 1 $4,889,9 Total Greater Victoria 178 $82,754,8 Other Areas UpIsland / Mainland 1 $2, Waterfront (all districts) 1 $2,9 Total Other Areas 2 $4,9 Total Condominium 18 $83,155,7 Victoria Real Estate Board Multiple Listing Service 1

17 Monthly Sales Summary Thursday, November 1, 218 October 218 Region District Townhouse Greater Victoria Units Total Volume Victoria 1 $7,821,5 Victoria West 1 $85, Oak Bay 1 $975, Esquimalt 6 $3,83, View Royal 3 $1,75, Saanich East 8 $6,873,2 Saanich West 2 $1,1, Central Saanich 3 $1,68, Sidney 5 $3,434, Colwood 3 $1,744, Langford 13 $5,954,6 Sooke 5 $1,937,9 Waterfront (all districts) 7 $6,164, Total Greater Victoria 67 $43,277,2 Other Areas Gulf Islands 2 $994, UpIsland / Mainland 1 $4, Total Other Areas 3 $1,394, Total Townhouse 7 $44,671,2 Manufactured Homes Greater Victoria View Royal 4 $582, Central Saanich 4 $1,65, Sidney 3 $1,49, Langford 2 $257, Total Greater Victoria 13 $2,953, Other Areas Shawnigan Lake / Malahat 1 $15, Gulf Islands 1 $325, UpIsland / Mainland 1 $72, Total Other Areas 3 $1,6, Total Manufactured Homes 16 $4,13, Total Residential 555 $387,312,159 Victoria Real Estate Board Multiple Listing Service 2

18 Monthly Sales Summary Thursday, November 1, 218 October 218 Region District Other Property Lots & Acreage (Incl Wtrfrnt) Greater Victoria Units Total Volume Saanich East 1 $765, Saanich West 1 $55, Highlands 1 $638, Langford 2 $679,8 Metchosin 1 $16, Sooke 7 $1,419,6 Total Greater Victoria 13 $4,212,4 Other Areas Gulf Islands 9 $2,345, UpIsland / Mainland 2 $1,17, Total Other Areas 11 $3,362, Total Lots & Acreage (Incl Wtrfrnt) 24 $7,574,4 Other Commercial Properties 19 $9,74,7 Grand Totals 598 $44,626,566 Victoria Real Estate Board Multiple Listing Service 3

Active Listings, New Listings and Sales October 218 Thursday, November 1, 218 4, Total Active MLS Listings 3,8 3,6 3,4 3,2 3, 2,8 2,6 2,4 2,2 2, 1,8 1,6 1,4 1,2 Oct 216 Nov

Sep 218 Oct 218 Total New MLS Listings and Total MLS Sales 2, 1,8 1,6 1,4 1,2 1, 8 6 4 2 Oct 216 Nov Sep 218 Oct 218 Listings Sales Victoria Real Estate Board Multiple

19 Active Listings, New Listings and Sales October 218 Thursday, November 1, 218 4, Total Active MLS Listings 3,8 3,6 3,4 3,2 3, 2,8 2,6 2,4 2,2 2, 1,8 1,6 1,4 1,2 Oct 216 Nov 216 Dec 216 Jan 217 Feb 217 Mar 217 Apr 217 May 217 Jun 217 Jul 217 Aug 217 Sep 217 Oct 217 Nov 217 Dec 217 Jan 218 Feb 218 Mar 218 Apr 218 May 218 Jun 218 Jul 218 Aug 218 Sep 218 Oct 218 Total New MLS Listings and Total MLS Sales 2, 1,8 1,6 1,4 1,2 1, Oct 216 Nov 216 Dec 216 Jan 217 Feb 217 Mar 217 Apr 217 May 217 Jun 217 Jul 217 Aug 217 Sep 217 Oct 217 Nov 217 Dec 217 Jan 218 Feb 218 Mar 218 Apr 218 May 218 Jun 218 Jul 218 Aug 218 Sep 218 Oct 218 Listings Sales Victoria Real Estate Board Multiple Listing Service

20 Sales to Active Listings Ratio October 218 Thursday, November 1, Oct 216 Nov 216 Dec 216 Jan 217 Feb 217 Mar 217 Apr 217 May 217 Jun 217 Jul 217 Aug 217 Sep 217 Oct 217 Nov 217 Dec 217 Jan 218 Feb 218 Mar 218 Apr 218 May 218 Jun 218 Jul 218 Aug 218 Sep 218 Oct 218 The Sales to Active Listings Ratio This chart tracks the ratio of total residential sales over total active residential listings at month-end for each of the last 25 months. The active listing count and the sales count can be viewed as indicators of housing supply and demand respectively. Observing the ratio between them can thus help indicate a "buyers' market", where there is sustained downward pressure on prices, and a "sellers' market", where there is sustained upward pressure on prices. Based on a regression analysis performed by the Economics Department of the BC Real Estate Association in each market area of the province, the Sales to Active Listings Ratio for Victoria can be interpreted as follows: - below 14, there is downward pressure on prices (buyers' market) - above 2, there is upward pressure on prices (sellers' market) - in the 14-2 range, there is little pressure on prices either way (balanced market) Victoria Real Estate Board Multiple Listing Service

21 Monthly Comparative Activity By Property Type November-1-18 October 218 Single Family - Residential Units Listed 45 Units Sold 244 Sell/List Ratio 6 Sales Dollars $25,558,62 Average Price / Unit $842,451 Price Ratio 98 Days To Sell 4 Active Listings at Month End 885 Current Month $226,934,716 $87, Change $2,243,177,46 $843, Year To Date $2,617,554,276 $789, Change Single Family - Residential Waterfront Units Listed 3 Units Sold 14 Sell/List Ratio 47 Sales Dollars $24,914,297 Average Price / Unit $1,779,593 Price Ratio 89 Days To Sell 65 Active Listings at Month End $12,173, $1,217, $243,924,138 $1,637, $285,76,241 $1,367, Single Family - Residential Acreage Units Listed 38 Units Sold 22 Sell/List Ratio 58 Sales Dollars $18,964, Average Price / Unit $862, Price Ratio 96 Days To Sell 54 Active Listings at Month End $27,456,55 $885, $253,168,283 $973, $322,88,384 $978, Condominium Units Listed 253 Units Sold 18 Sell/List Ratio 71 Sales Dollars $83,155,7 Average Price / Unit $461,976 Price Ratio 98 Days To Sell 33 Active Listings at Month End $95,674,514 $449, $889,481,768 $466, $1,12,47,436 $417, Victoria Real Estate Board Multiple Listing Service 1

22 Monthly Comparative Activity By Property Type November-1-18 October 218 Townhouse Units Listed 15 Units Sold 7 Sell/List Ratio 67 Sales Dollars $44,671,2 Average Price / Unit $638,16 Price Ratio 98 Days To Sell 52 Active Listings at Month End 211 Current Month $38,884,725 $555, Change $422,865,763 $593, Year To Date $49,95,748 $533, Change Strata Duplex (Up and Down) Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End $ $1,427, $475, $3,58,5 $596, Strata Duplex (Side by Side) Units Listed 13 Units Sold 4 Sell/List Ratio 31 Sales Dollars $3,22,4 Average Price / Unit $755,6 Price Ratio 97 Days To Sell 25 Active Listings at Month End $629,5 $157, $52,758, $628, $51,162,78 $55, Strata Duplex (Front and Back) Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End $1,182,9 $591, $9,714,795 $67, $13,437,3 $584, Victoria Real Estate Board Multiple Listing Service 2

23 Monthly Comparative Activity By Property Type November-1-18 October 218 Recreational Units Listed 1 Units Sold 2 Sell/List Ratio 2 Sales Dollars $243,5 Average Price / Unit $121,75 Price Ratio 91 Days To Sell 84 Active Listings at Month End 16 Current Month $42, $134, Change $2,231,4 $16, Year To Date $4,41, $315, Change Manufactured Home Units Listed 12 Units Sold 16 Sell/List Ratio 133 Sales Dollars $4,13, Average Price / Unit $25,813 Price Ratio 97 Days To Sell 32 Active Listings at Month End $2,38,4 $185, $31,35, $242, $29,687,4 $186, Residential Lots Units Listed 29 Units Sold 12 Sell/List Ratio 41 Sales Dollars $2,956,6 Average Price / Unit $246,383 Price Ratio 97 Days To Sell 87 Active Listings at Month End $1,385,8 $173, $31,43,598 $33, $52,246,269 $312, Residential Lots - Waterfront Units Listed 3 Units Sold 4 Sell/List Ratio 133 Sales Dollars $1,44,8 Average Price / Unit $261,2 Price Ratio 97 Days To Sell 52 Active Listings at Month End $377,5 $377, $13,921,5 $662, $6,55,8 $378, Victoria Real Estate Board Multiple Listing Service 3

24 Monthly Comparative Activity By Property Type November-1-18 October 218 Residential Acreage Units Listed 12 Units Sold 6 Sell/List Ratio 5 Sales Dollars $2,738, Average Price / Unit $456,333 Price Ratio 95 Days To Sell 186 Active Listings at Month End 92 Current Month $2,967, $423, Change $32,528,788 $445, Year To Date $35,538,133 $386, Change Residential Acreage - Waterfront Units Listed 1 Units Sold 2 Sell/List Ratio 2 Sales Dollars $835, Average Price / Unit $417,5 Price Ratio 8 Days To Sell 451 Active Listings at Month End $1,179, $393, $15,885, $882, $14,763,9 $567, Revenue - Duplex/Triplex Units Listed 6 Units Sold 3 Sell/List Ratio 5 Sales Dollars $2,77, Average Price / Unit $923,333 Price Ratio 93 Days To Sell 37 Active Listings at Month End $7,33, $912, $23,33,4 $1,14, $42,722,226 $949, Revenue - Multi Units Units Listed 2 Units Sold 1 Sell/List Ratio 5 Sales Dollars $1,75, Average Price / Unit $1,75, Price Ratio 92 Days To Sell 194 Active Listings at Month End $3,72, $1,86, $1,745, $1,79, $25,569,5 $1,54, Victoria Real Estate Board Multiple Listing Service 4

25 Monthly Comparative Activity By Property Type November-1-18 October 218 Revenue - Apartment Block Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 6 Current Month $ Change $8,91, $2,227, Year To Date $8,27, $2,756, Change Revenue - Commercial Units Listed 4 Units Sold 2 Sell/List Ratio 5 Sales Dollars $4,41, Average Price / Unit $2,25, Price Ratio 11 Days To Sell 111 Active Listings at Month End $2,55, $411, $98,896,876 $6,181, $17,735,7 $656, Revenue - Industrial Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 1 $ 1 $ 1 $ Business with Land & Building Units Listed 5 Units Sold 4 Sell/List Ratio 8 Sales Dollars $3,375,27 Average Price / Unit $843,757 Price Ratio 94 Days To Sell 95 Active Listings at Month End 27 6 $ $24,219,5 $864, $8,644,496 $454, Victoria Real Estate Board Multiple Listing Service 5

26 Monthly Comparative Activity By Property Type November-1-18 October 218 Business Only Units Listed 19 Units Sold 4 Sell/List Ratio 21 Sales Dollars $198, Average Price / Unit $49,5 Price Ratio 69 Days To Sell 123 Active Listings at Month End 86 Current Month $121, $4, Change $2,262,85 $83, Year To Date $2,186,25 $115, Change Motel/Hotel Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 1 2 $ $ $3,, $3,, Lease - Office Units Listed 9 Units Sold 1 Sell/List Ratio 11 Sales Dollars $17 Average Price / Unit $17 Price Ratio Days To Sell 567 Active Listings at Month End 33 6 $ $1,616 $ $123,575 $17, Lease - Retail Units Listed 3 Units Sold 1 Sell/List Ratio 33 Sales Dollars $19 Average Price / Unit $19 Price Ratio Days To Sell 63 Active Listings at Month End $17 $ $2,348 $ $65,417 $1, Victoria Real Estate Board Multiple Listing Service 6

27 Monthly Comparative Activity By Property Type November-1-18 October 218 Lease - Warehouse Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End Current Month $ 1 Change -1 $ Year To Date 1 $ Change -1 Lease - Industrial Units Listed Units Sold 2 Sell/List Ratio Sales Dollars $31 Average Price / Unit $15 Price Ratio 2 Days To Sell 1 Active Listings at Month End $ $31 $ $17 $ Lease - Other Units Listed 5 Units Sold 4 Sell/List Ratio 8 Sales Dollars $6,914 Average Price / Unit $1,729 Price Ratio 1 Days To Sell 85 Active Listings at Month End $17 $ $4,26 $36, $227 $ Commercial Land Units Listed 3 Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 15 1 $ $1,4, $1,4, $16,92,1 $2,115, Victoria Real Estate Board Multiple Listing Service 7

28 Monthly Comparative Activity By Property Type November-1-18 October 218 Current Month Change Year To Date Change Grand Totals Units Listed 958 Units Sold 598 Sell/List Ratio 62 Sales Dollars $44,626,566 Average Price / Unit $676,633 Price Ratio 97 Days To Sell 47 Active Listings at Month End $424,484,594 $639, $4,413,987,771 $73, $4,983,744,973 $638, Victoria Real Estate Board Multiple Listing Service 8

September 4, Victoria s Real Estate Market Simmers at the End of Summer

September 4, Victoria s Real Estate Market Simmers at the End of Summer PRESIDENT Kyle Kerr PRESIDENT ELECT Cheryl Woolley SECRETARY TREASURER David Langlois PAST PRESIDENT Ara Balabanian DIRECTORS Jackie Adkins Sandi-Jo Ayers Bill Ethier Karen Dinnie-Smyth Andrew Plank EXECUTIVE