August 1, Victoria Housing Market Still Finding Its Balance

August, 28 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 Victoria Housing Market Still Finding Its Balance A total of 65 properties sold in the Victoria Real Estate Board region this July, 7.6 per cent fewer than the 79 properties sold in July of last year, and an 8. per cent decrease from June 28. Sales of condominiums were down 22.6 per cent from last year in July with 88 units sold. Sales of single family homes were down 6.5 per cent from 27 with 34 sold this July. We are in a different market now than what we have seen for the past two years, says Victoria Real Estate Board President Kyle Kerr. And while we see inventory creeping up after the drought in 27, especially in the multi-million-dollar range, across our region there are 3 per cent fewer homes listed for sale under $75, than this time last year. This means that if you are shopping in the $75,-or-less bracket, you are in a fastmoving market with low inventory. For example, of the 76 single family detached properties sold in our Core and Malahat regions during the month of July, only 59 (34) were listed for $75, or less. And of those, 28 (47) sold at or over list price. This illustrates the high demand for homes at or below this price point, and the pressure that is still pushing that segment of our market. If you are looking for a home priced at $.5 million or above, there is more selection than last year and those homes are sitting on the market longer. For the first seven months of 27 there were 48 single family detached properties for sale listed at $.5 million or above. For the same time period in 28, there were 664 properties for sale in this range, an increase of 27.6 per cent. There were a total of 2,67 active listings for sale on the Victoria Real Estate Board Multiple Listing Service at the end of July 28, an increase of.5 per cent compared to the month of June and 35.7 per cent more than the,92 active listings for sale at the end of July 27. Each year we tend to see a plateau in inventory over the summer months, adds President Kerr. It is possible that we will see more inventory come into the market through the fall when there is often a burst of activity in our market, but it s hard to predict how that inventory might be priced. Ideally, we will see more inventory come in at under the $75, level to help push our housing market into more balanced territory across all segments. The Multiple Listing Service Home Price Index benchmark value for a single family home in the Victoria Core in July 27 was $834,2, while the benchmark value for the same home in July 28 increased by 5.5 per cent to $88,, slightly lower than June s value of $889,6. The MLS HPI benchmark value for a condominium in the Victoria Core area in July 27 was $442,, while the benchmark value for the same condominium in July 28 increased by 2. per cent to $495,7, slightly higher than June s value of $496,5. About the Victoria Real Estate Board Founded in 92, 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,365 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 / 25-92-4652 Victoria Real Estate Board VICTORIA REAL ESTATE BOARD 335 Nanaimo Street Victoria, BC V8T 4W2 T 25.385.7766 F 25.385.8773 www.vreb.org www.openhousesvictoria.ca

July 28 Statistics Package for Media -Aug-28 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 288 52 34 88 67 3 68 65 LM LY -9. -9.8 3. -4.8-8.3-7.3 3. -.3-8. 8.3-6.5-22.6-6.3-38. -9. -7.6 This Month Last Month This Month 28 - July 28 - June 27 - July Average$ LM LY Median$ LM LY Units Average$ Median$ Units Average$ Median$ $929,543 4.5 7. $8, 2.6 5.4 37 $889,97 $78, 359 $868,8 $759, $62,459 $882,424 $472,473 $552,27 $225,385-4..4-2.3 -.7 7.6 5.9 5.7 7.4 9. -4.8 $53,5 $779,5 $45, $522, $22, -.5.2 3.8-4.5 74.6-2.7 6.8 2.8.5 37.6 4 357 23 8 678 78 $722,248 $87,42 $483,57 $67,862 $29,49 $599,5 $769,9 $399,95 $546,5 $26, 48 47 243 8 2 75 79 $586,85 $834,85 $42,499 $56,64 $264,576 $545, $729,95 $367,95 $472,5 $59,9 Active Listings 2,67.5 35.7 2,595,92 Legend Units: net number of listings sold LM: percentage change since Last Month LY: percentage change since This Month Average$: 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 July 28 Benchmark Price June 28 Benchmark Price July 27 Benchmark Price July 28 Index Value June 28 Index Value July 27 Index Value LM LY Single Family Benchmark Home: Greater Victoria $74, $745, $7,8 23.9 25. 22.3 -.6 5.7 Single Family Benchmark Home: Core $88, $889,6 $834,2 23.2 232.7 28.2 -. 5.5 Single Family Benchmark Home: Westshore $626,5 $63,6 $589,8 2.5 22.8 89.7 -.7 6.2 Single Family Benchmark Home: Peninsula $788,8 $797,3 $753,2 23.8 26. 94.6 -. 4.7 Condo Benchmark Home: Greater Victoria $485,2 $486, $433,2 24.2 24.6 25.3 -.2 2. Townhouse Benchmark Home: Greater Victoria $586, $594,3 $542,2 27. 29.9 9.5 -.4 8. Legend Current Month: July 28 Last Month: June 28 : July 27 LM: Percentage change between current month and last month LY: Percentage change between current month and same month last year Victoria Real Estate Board July 28 Statistics

2, Total new MLS listings and total MLS sales for entire district Total New MLS Listings and Total MLS Sales,8,6,4,2, 8 6 4 2 Jul 26 Aug 26 Sep 26 Oct 26 Nov 26 Dec 26 Jan 27 Feb 27 Mar 27 Apr 27 May 27 Jun 27 Jul 27 Aug 27 Sep 27 Oct 27 Nov 27 Dec 27 Jan 28 Feb 28 Mar 28 Apr 28 May 28 Jun 28 Jul 28 Listings Sales Victoria Real Estate Board Multiple Listing Service Sales to Active Listings Ratio 9 8 7 6 5 4 3 2 Jul 26 Aug 26 Sep 26 Oct 26 Nov 26 Dec 26 Jan 27 Feb 27 Mar 27 Apr 27 May 27 Jun 27 Jul 27 Aug 27 Sep 27 Oct 27 Nov 27 Dec 27 Jan 28 Feb 28 Mar 28 Apr 28 May 28 Jun 28 Jul 28 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, there is downward pressure on prices (buyers' market) - above 25, there is upward pressure on prices (sellers' market) - in the 5-2 range, there is little pressure on prices either way (balanced market) Victoria Real Estate Board July 28 Statistics

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. Victoria Real Estate Board July 28 Statistics

MLS HPI benchmark and value - Condominium / Apartments Victoria Real Estate Board July 28 Statistics

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 July 28 Month Ago 3 Months Ago 6 Months Ago 2 Months Ago 36 Months Ago 6 Months Ago January 25 $74, $86,7 $753,8 $9,3 $99,2 $97, $746,7 $937,2 $87,8 $948,2 $745, $872,3 $672, $67,2 $65, $632,2 $7,5 $667, $743, $655, $763,3 $749,3 $637,2 $96,7 $955,6 $74,4 $86, $97,6 $683, $735,5 $732,6 $83,3 $636,2 $62,7 $732,9 $724,2 $627,9 $683,9 $89,7 $982,3 $695,6 $755,9 $72,2 $84,9 $64,9 $7,7 $865,2 $72, $66,5 $877,8 $669,5 $85,3 $875,8 $865,8 $855,6 $842,6 $94,9 $899, $638,4 $732,7 $7,8 $598, $,265, $,298,7 $,32, $,233,6 $,29,8 $56,6 $558, $553,9 $495,8 $53,3 $477,4 $52,5 $545,9 $595,9 $595,6 $49,2 $57,2 $45,5 $446,2 $687,4 $76,3 $479, $592,3 $66,4 $629,7 $72,2 $527,2 $44,7 $53,7 $583,5 $437,5 $829,6 $44, $59, $622,2 $58,5 $359,7 $438, $628,6 $488,7 $649, $655,6 $454,9 $533,9 $392,3 $363,2 $48,8 $54, $423,2 $744,6 $428,6 $55,6 $566,5 $48, $365,2 $425,3 $647,5 $456,4 $622,6 $623,5 $43, $55,7 $37, $33, $346,4 $372, $279,9 $552, $283,5 $337,3 $394,5 $326,4 $264,8 $39,8 $46,5 $336, $463,2 $486,7 $32,5 $356,9 $275,9 $29,5 Source: Victoria Real Estate Board

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 July 28 Month Ago 3 Months Ago 6 Months Ago 2 Months Ago 36 Months Ago 6 Months Ago January 25 23.9 25. 2.5 22.7 22.3 48.3 38.8 23.3 234.4 223.4 26.3 26.4 56.8 45.4 24. 239.8 227.3 29.7 23.7 56.3 5.2 229.2 235.3 235.9 223.5 22. 5.3 34.9 229.3 23. 29.3 2.2 2. 55.6 5.2 223.5 226.3 27.3 2. 23.8 53.9 49.9 23. 233. 229.9 29.3 222. 57.7 43.6 228.8 229.6 22.9 25. 26.4 55.8 47.4 9.3 93.8 96.9 85. 8.9 35.8 37.9 24. 25.7 22.7 95.8 9.2 4.4 37.3 23.5 28.6 27.5 9.6 88. 36.5 4.6 2.4 29.6 23.5 99.2 96.5 45.4 35.8 88.2 85.9 92.5 84.7 8.9 4. 34.4 94.8 99.4 2.8 85.9 84.7 34.7 28. 27.5 22.5 26.4 98.6 95.9 4.5 34. 28.2 26. 2.8 25.3 22. 49.6 4.7 22.3 2.8 97.9 87.5 9. 42.2 34.5 7. 63.8 54.9 53. 5.2 24.6 3.6 Source: Victoria Real Estate Board

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 July 28 Month Ago 3 Months Ago 6 Months Ago 2 Months Ago 36 Months Ago 6 Months Ago January 25 Victoria REB $485,2 $486, $485, $45,6 $433,2 $3,2 $287,3 $2,2 Victoria $468,2 $47,5 $475,7 $438,2 $422, $28,7 $268,3 $9, Victoria West $86,6 $82,5 $82,8 $768,6 $72,9 $535,6 $465,8 $338,8 Oak Bay $543,9 $53,9 $498, $48,9 $476,5 $39,6 $32,7 $255, Esquimalt $357,5 $365,8 $368,4 $345, $323,3 $259, $248,7 $55,7 View Royal $47,5 $472,6 $474,8 $447, $427, $328,7 $34, $27,7 Saanich East $438,3 $43,7 $47, $392, $38, $26,9 $255,5 $7,5 Saanich West $427, $423,8 $48,4 $392,7 $375, $26,8 $246,3 $62,5 Langford $383,7 $382,6 $385,4 $359,9 $345,9 $256,7 $252,6 $77,4 Colwood $399,4 $48,9 $47,6 $375,4 $366,4 $256,4 $253,6 $66,8 Sidney $479, $483,6 $475,3 $433, $49, $296,3 $276, $2,8 Central Saanich $48,2 $482,5 $477,7 $432,6 $48, $32,7 $287,2 $25,3 Source: Victoria Real Estate Board

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 July 28 Month Ago 3 Months Ago 6 Months Ago 2 Months Ago 36 Months Ago 6 Months Ago January 25 Victoria REB 24.2 24.6 24. 224. 25.3 49.7 42.8 Victoria 245. 246.2 248.9 229.3 22.9 47.4 4.4 Victoria West 238. 242.5 242.3 226.9 23. 58. 37.5 Oak Bay 23.2 28. 95.2 88.5 86.8 25.3 26. Esquimalt 229.6 234.9 236.6 22.6 27.6 66.4 59.7 View Royal 26.6 27. 28. 25.4 96.2 5. 44.3 Saanich East 257. 253. 244.5 229.9 222.9 53. 49.8 Saanich West 262.8 26.8 257.5 24.7 23.8 6.5 5.6 Langford 26.3 25.7 27.3 22.9 95. 44.7 42.4 Colwood 239.4 245. 244.3 225. 29.6 53.7 52. Sidney 237.4 239.6 235.5 24.6 27.6 46.8 36.8 Central Saanich 234.4 235. 232.7 2.7 23.6 52.3 39.9 Source: Victoria Real Estate Board

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 July 28 Month Ago 3 Months Ago 6 Months Ago 2 Months Ago 36 Months Ago 6 Months Ago January 25 Victoria REB $586, $594,3 $575,6 $567,4 $542,2 $48,2 $394,7 $283, Victoria $622,9 $68,5 $589,8 $599,8 $582,3 $425,2 $43,6 $287,7 Victoria West $632,4 $634,6 $622,7 $599,7 $55,2 $463,3 $42,9 $247,6 Esquimalt $524, $53,8 $527,4 $55,4 $474,8 $38,4 $349,5 $234,7 View Royal $67,4 $62,6 $66,6 $69,3 $57, $45,3 $394,5 $265,3 Saanich East $727,3 $743,4 $73, $74,2 $678,9 $56,7 $476, $34, Saanich West $577, $593,5 $57,2 $555,6 $53,4 $44,8 $389,2 $268,8 Sooke $52,6 $56,5 $5,4 $499,8 $46,7 $353,9 $36,8 $283,3 Langford $484, $497,9 $485,5 $477,3 $439,6 $344, $345,9 $264,8 Colwood $62, $63,4 $62,4 $599,4 $553,6 $4,8 $43,5 $334,3 North Saanich $747,9 $77,7 $732, $79,5 $76,6 $499, $48, $368,6 Sidney $589,6 $64,7 $572,3 $554,5 $54,8 $394, $388,7 $269,6 Central Saanich $523,7 $542, $56,5 $489,3 $478,8 $35,4 $336,6 $245,5 ML Malahat & Area $55,3 $54,6 $486,8 $463,6 $455, $362,7 $33,2 $252,2 GI Gulf Islands $56, $52, $483, $462, $458,5 $372, $389,8 $292,2 Source: Victoria Real Estate Board

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 July 28 Month Ago 3 Months Ago 6 Months Ago 2 Months Ago 36 Months Ago 6 Months Ago January 25 Victoria REB 27. 29.9 23.3 2.4 9.5 47.7 39.4 Victoria 26.5 25. 25. 28.5 22.4 47.8 4.3 Victoria West 255.4 256.3 25.5 242.2 222.2 87. 62.7 Esquimalt 223.3 28.9 224.7 29.6 22.3 62.5 48.9 View Royal 232.7 23.9 232.4 233.4 25.2 69.7 48.7 Saanich East 23.3 28. 29. 26.5 99. 48.6 39.6 Saanich West 24.7 22.8 22.5 26.7 97.7 5.6 44.8 Sooke 77.4 82.3 8.5 76.4 62.6 24.9 27.7 Langford 82.8 88. 83.3 8.2 66. 29.9 3.6 Colwood 8. 83.5 8.2 79.3 65.6 22.9 2.7 North Saanich 22.9 29. 98.6 95.2 9.7 35.4 3.5 Sidney 28.7 224.3 22.3 25.7 2. 46.2 44.2 Central Saanich 23.3 22.8 26.3 99.3 95. 42.7 37. ML Malahat & Area 24.3 24. 93. 83.8 8.4 43.8 3.9 GI Gulf Islands 73.2 7.8 65.3 58. 56.9 27.3 33.4 Source: Victoria Real Estate Board

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 - Storey Single Family - 2 Storey Townhouse Condo Apartment Composite Westshore Jan 26 Jan 28 Jan 2 Jan 22 Jan 24 Jan 26 Jan 28 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

HPI or Benchmark (Applies to all tabs) HPI Benchmark Area VREB Area Summary Benchmark Performance over Time Select Date Range: All values 5, Area/Property Type Selection Tool To Select Multiple Options: Hold CTRL and click the selections below Property Type Benchmark ($) 4, 3, 2, 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 - Storey Single Family - 2 Storey Townhouse Condo Apartment Composite Westshore Jan 26 Jan 28 Jan 2 Jan 22 Jan 24 Jan 26 Jan 28 Peninsula Core Condo Apartment Peninsula Condo Apartment Victoria REB Condo Apartment Westshore Condo Apartment 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 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 - Storey Single Family - 2 Storey Townhouse Condo Apartment Composite Westshore Jan 26 Jan 28 Jan 2 Jan 22 Jan 24 Jan 26 Jan 28 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 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 - Storey Single Family - 2 Storey Townhouse Condo Apartment Composite 2, Westshore Jan 26 Jan 28 Jan 2 Jan 22 Jan 24 Jan 26 Jan 28 Peninsula Source: Victoria Real Estate Board Victoria REB Condo Apartment Single Family - All Townhouse Gulf Islands Malahat & Area

Monthly Sales Summary Wednesday, August, 28 July 28 Region District Residential Single Family Greater Victoria Units Total Volume Victoria 33 $32,8, Oak Bay 7 $3,24,4 Esquimalt 3 $9,632,788 View Royal 7 $5,83,8 Saanich East 6 $58,466,688 Saanich West $8,74,8 Central Saanich 5 $2,77,9 North Saanich 7 $7,57,7 Sidney 8 $6,592,8 Highlands 5 $4,763,5 Colwood 22 $7,3,955 Langford 48 $34,722,633 Metchosin 3 $2,89, Sooke 2 $,594, Waterfront (all districts) 8 $5,65,3 Total Greater Victoria 288 $267,78,364 Other Areas Shawnigan Lake / Malahat 4 $2,9, Gulf Islands 8 $,886, UpIsland / Mainland 22 $,2,98 Waterfront (all districts) 8 $8,8,9 Total Other Areas 52 $32,35,88 Total Single Family 34 $3,24,244 Condominium Greater Victoria Victoria 7 $3,6,54 Victoria West $6,36,5 Oak Bay 2 $827, Esquimalt 2 $6,569,5 View Royal 3 $,7, Saanich East 23 $9,924,2 Saanich West 3 $5,89,7 Sidney 3 $5,862,5 Colwood 4 $2,29,8 Langford 2 $8,554,2 Waterfront (all districts) 5 $,749,9 Total Greater Victoria 86 $88,335,84 Other Areas UpIsland / Mainland 2 $489, Total Other Areas 2 $489, Total Condominium 88 $88,824,84 Victoria Real Estate Board Multiple Listing Service

Monthly Sales Summary Wednesday, August, 28 July 28 Region District Townhouse Greater Victoria Units Total Volume Victoria 2 $8,275,5 Victoria West 2 $898,9 Esquimalt 2 $,449,795 View Royal 4 $2,38,5 Saanich East 2 $,39,9 Saanich West 3 $,489, Central Saanich 3 $2,96, Sidney 5 $2,37, Colwood 5 $3,359,4 Langford 9 $9,242,996 Sooke 3 $,9,9 Waterfront (all districts) $799,9 Total Greater Victoria 6 $34,386,79 Other Areas Gulf Islands $35, UpIsland / Mainland 4 $,664, Other $9, Total Other Areas 6 $2,599, Total Townhouse 67 $36,985,79 Manufactured Homes Greater Victoria View Royal 3 $44, Central Saanich 2 $64,5 Sidney 2 $72, Langford 2 $44, Total Greater Victoria 9 $2,78,5 Other Areas UpIsland / Mainland 3 $326,5 Waterfront (all districts) $425, Total Other Areas 4 $75,5 Total Manufactured Homes 3 $2,93, Total Residential 68 $428,764,875 Victoria Real Estate Board Multiple Listing Service 2

Monthly Sales Summary Wednesday, August, 28 July 28 Region District Other Property Lots & Acreage (Incl Wtrfrnt) Greater Victoria Units Total Volume Saanich East 2 $2,49, Saanich West $4, Central Saanich $,, Highlands $365, Colwood 2 $55, Langford 2 $634, Sooke 4 $2,259,9 Total Greater Victoria 3 $7,32,9 Other Areas Shawnigan Lake / Malahat $28, Gulf Islands 7 $,964, UpIsland / Mainland $733, Total Other Areas 9 $2,977, Total Lots & Acreage (Incl Wtrfrnt) 22 $,289,9 Other Commercial Properties 2 $,468,3 Grand Totals 65 $539,522,888 Victoria Real Estate Board Multiple Listing Service 3

Active Listings, New Listings and Sales July 28 Wednesday, August, 28 4, Total Active MLS Listings 3,8 3,6 3,4 3,2 3, 2,8 2,6 2,4 2,2 2,,8,6,4,2 Jul 26 Aug 26 Sep 26 Oct 26 Nov 26 Dec 26 Jan 27 Feb 27 Mar 27 Apr 27 May 27 Jun 27 Jul 27 Aug 27 Sep 27 Oct 27 Nov 27 Dec 27 Jan 28 Feb 28 Mar 28 Apr 28 May 28 Jun 28 Jul 28 Total New MLS Listings and Total MLS Sales 2,,8,6,4,2, 8 6 4 2 Jul 26 Aug 26 Sep 26 Oct 26 Nov 26 Dec 26 Jan 27 Feb 27 Mar 27 Apr 27 May 27 Jun 27 Jul 27 Aug 27 Sep 27 Oct 27 Nov 27 Dec 27 Jan 28 Feb 28 Mar 28 Apr 28 May 28 Jun 28 Jul 28 Listings Sales Victoria Real Estate Board Multiple Listing Service

Sales to Active Listings Ratio July 28 Wednesday, August, 28 9 8 7 6 5 4 3 2 Jul 26 Aug 26 Sep 26 Oct 26 Nov 26 Dec 26 Jan 27 Feb 27 Mar 27 Apr 27 May 27 Jun 27 Jul 27 Aug 27 Sep 27 Oct 27 Nov 27 Dec 27 Jan 28 Feb 28 Mar 28 Apr 28 May 28 Jun 28 Jul 28 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 4, there is downward pressure on prices (buyers' market) - above 2, there is upward pressure on prices (sellers' market) - in the 4-2 range, there is little pressure on prices either way (balanced market) Victoria Real Estate Board Multiple Listing Service

Monthly Comparative Activity By Property Type August--8 July 28 Single Family - Residential Units Listed 492 Units Sold 285 Sell/List Ratio 58 Sales Dollars $246,533,944 Average Price / Unit $865,3 Price Ratio 98 Days To Sell 36 Active Listings at Month End 926 Current Month 478 323 68 $255,279,457 $79,339 27 64 Change 3-2 -3 9 34 45 3457 946 56 $,65,795,86 $848,32 99 3 Year To Date 347 2463 7 $,942,53,747 $788,685 25 Change -2-5 8 23 Single Family - Residential Waterfront Units Listed 47 Units Sold 5 Sell/List Ratio 32 Sales Dollars $23,63,2 Average Price / Unit $,544,23 Price Ratio 96 Days To Sell 66 Active Listings at Month End 8 38 3 79 $4,52, $,368,4 96 38 63 24-5 -44 3 74 298 34 $56,39,7 $,547,72 95 69 3 57 5 $27,336,297 $,384,38 95 8-4 -36-28 2-3 Single Family - Residential Acreage Units Listed 45 Units Sold 22 Sell/List Ratio 49 Sales Dollars $9,793,6 Average Price / Unit $899,79 Price Ratio 97 Days To Sell 68 Active Listings at Month End 58 55 4 75 $37,356,299 $9,29 97 5 59-8 -46-47 - 34-368 9 52 $83,42,748 $963,383 97 56 386 239 62 $236,2,279 $987,537 97 74-5 -2-22 -2-24 Condominium Units Listed 227 Units Sold 88 Sell/List Ratio 83 Sales Dollars $88,824,84 Average Price / Unit $472,473 Price Ratio 99 Days To Sell 32 Active Listings at Month End 42 283 243 86 $97,87,5 $42,499 23 269-2 -23-9 7 4 56 22 383 68 $643,379,77 $465,26 99 25 263 794 83 $726,8,389 $45,35 2-7 -23-5 6 Victoria Real Estate Board Multiple Listing Service

Monthly Comparative Activity By Property Type August--8 July 28 Townhouse Units Listed Units Sold 67 Sell/List Ratio 66 Sales Dollars $36,985,79 Average Price / Unit $552,27 Price Ratio 99 Days To Sell 42 Active Listings at Month End 92 Current Month 8 8 74 $4,529,93 $56,64 8 93 Change -6-6 -9 9 3 6 745 525 7 $38,36,329 $587,269 3 Year To Date 682 562 82 $295,67,994 $525,993 2 23 Change 9-7 4 2 37 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 3 33 $39, $39, 8 3 - - - - 2 5 $445, $445, 99 5 6 2 33 $8, $45, 99 38-67 -5-45 -6 Strata Duplex (Side by Side) Units Listed 27 Units Sold 2 Sell/List Ratio 44 Sales Dollars $6,837,6 Average Price / Unit $569,8 Price Ratio 99 Days To Sell 42 Active Listings at Month End 32 5 8 53 $3,478,573 $434,822 3 2 4 8 5 97 3 253 29 99 55 56 $33,727, $63,28 3 92 74 8 $42,446,678 $573,64 23 8-26 -2 7 32 Strata Duplex (Front and Back) Units Listed 4 Units Sold 2 Sell/List Ratio 5 Sales Dollars $974, Average Price / Unit $487, Price Ratio Days To Sell 27 Active Listings at Month End 2 $595, $595, 6 3 64-8 45 5 2 8 $7,33,795 $68,65 25 2 8 9 $,264,5 $57,25 2 36-25 -33-29 7-29 Victoria Real Estate Board Multiple Listing Service 2

Monthly Comparative Activity By Property Type August--8 July 28 Recreational Units Listed 3 Units Sold Sell/List Ratio 33 Sales Dollars $2, Average Price / Unit $2, Price Ratio 92 Days To Sell 276 Active Listings at Month End 2 Current Month 2 2 $92,5 $46,25 92 49 7 Change 2-5 -77-55 463 24 26 2 46 $839,5 $69,958 9 57 Year To Date 22 45 $3,945, $394,5 82 7 Change 8 2-79 -82 46 Manufactured Home Units Listed 9 Units Sold 3 Sell/List Ratio 68 Sales Dollars $2,93, Average Price / Unit $225,385 Price Ratio 97 Days To Sell 35 Active Listings at Month End 4 23 2 9 $5,556, $264,576 9 36 33-7 -38-47 -5-4 24 25 9 72 $2,96,4 $235,56 97 46 4 2 79 $2,429,9 $82,4 95 5 - -2 4 29-8 Residential Lots Units Listed 7 Units Sold Sell/List Ratio 59 Sales Dollars $2,278, Average Price / Unit $227,8 Price Ratio 95 Days To Sell 29 Active Listings at Month End 74 25 2 48 $4,328,9 $36,742 97 82 86-32 -7-47 -37 56 2 242 73 3 $24,78,598 $339,46 98 25 6 32 83 $43,236,269 $327,547 95 5-45 -43 4 2 Residential Lots - Waterfront Units Listed Units Sold 2 Sell/List Ratio 2 Sales Dollars $,99,9 Average Price / Unit $954,95 Price Ratio 93 Days To Sell 54 Active Listings at Month End 25 3 4 33 $,24,9 $33,725 96 68 9-67 -5 57 24-22 32 32 3 4 $,546,9 $888,223 95 6 39 4 36 $5,453,3 $389,52 97 4-8 -7 2 28 49 Victoria Real Estate Board Multiple Listing Service 3

Monthly Comparative Activity By Property Type August--8 July 28 Residential Acreage Units Listed 6 Units Sold 7 Sell/List Ratio 44 Sales Dollars $3,54, Average Price / Unit $436,286 Price Ratio 95 Days To Sell 6 Active Listings at Month End 96 Current Month 24 4 58 $7,799,4 $557, 95 95 8 Change -33-5 -6-22 -8-9 38 53 38 $24,376,288 $459,93 93 3 Year To Date 29 63 49 $26,428,733 $49,54 94 265 Change 7-6 -8-5 Residential Acreage - Waterfront Units Listed 6 Units Sold 3 Sell/List Ratio 5 Sales Dollars $3,48, Average Price / Unit $,6, Price Ratio 96 Days To Sell 88 Active Listings at Month End 4 2 3 5 $924,9 $38,3 96 35 4 2 23 23-72 -2 44 25 $,96, $996,364 96 24 8 75 $,59,9 $64,439 93 266 83-39 - 62-58 Revenue - Duplex/Triplex Units Listed 8 Units Sold 3 Sell/List Ratio 38 Sales Dollars $2,7,9 Average Price / Unit $9,3 Price Ratio 97 Days To Sell 26 Active Listings at Month End 3 7 4 $,54, $,54, 92 37 3 4 2 75-42 -3 46 8 39 $8,695,4 $,38,633 97 37 56 3 55 $29,239,726 $943,27 28-8 -42-36 34 Revenue - Multi Units Units Listed 2 Units Sold Sell/List Ratio 5 Sales Dollars $,65, Average Price / Unit $,65, Price Ratio 97 Days To Sell 2 Active Listings at Month End 3 7 4 $995, $995, 95 6 9-7 66 66 3 44 2 5 25 $8,995, $,799, 99 43 3 2 4 $7,64,5 $,467,875 3 32-33 -58-49 23 33 Victoria Real Estate Board Multiple Listing Service 4

Monthly Comparative Activity By Property Type August--8 July 28 Revenue - Apartment Block Units Listed Units Sold 2 Sell/List Ratio Sales Dollars $5,7, Average Price / Unit $2,85, Price Ratio 97 Days To Sell 64 Active Listings at Month End 8 Current Month $3,88, $3,88, 5 38 2 Change 47-27 68 3 3 27 $6,9, $2,33,333 99 46 Year To Date 4 25 $3,88, $3,88, 5 38 Change 75 2 78-4 2 Revenue - Commercial Units Listed 3 Units Sold 5 Sell/List Ratio 67 Sales Dollars $85,967,876 Average Price / Unit $7,93,575 Price Ratio 94 Days To Sell 35 Active Listings at Month End 25 6 2 33 $,3, $55, 96 87 32-5 5 8246 3239 36-22 33 4 42 $94,486,876 $6,749,63 558 247 46 9 4 $2,85,7 $673,984 85 3-28 -26 638 9 8 Revenue - Industrial Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End $ $ $ - Business with Land & Building Units Listed 4 Units Sold 3 Sell/List Ratio 75 Sales Dollars $6,64,952 Average Price / Unit $2,2,65 Price Ratio 97 Days To Sell 4 Active Listings at Month End 39 4 $ 45-3 38 5 39 $2,729,984 $848,666 96 5 6 6 26 $6,454,483 $43,45 95 83-38 -6 97 38 Victoria Real Estate Board Multiple Listing Service 5

Monthly Comparative Activity By Property Type August--8 July 28 Business Only Units Listed 7 Units Sold 6 Sell/List Ratio 35 Sales Dollars $542,85 Average Price / Unit $9,468 Price Ratio 78 Days To Sell 64 Active Listings at Month End 89 Current Month 9 $, $, 4 7 68 Change 89 5 5328 85-4 3 7 7 6 $,59,85 $88,82 77 73 Year To Date 94 2 $,842,2 $67,473 74 7 Change 4 55-8 -47 4 Motel/Hotel Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End $3,, $3,, 83 97 2 - - -5 2 $ 4 25 $3,, $3,, 83 97-5 - - Lease - Office Units Listed Units Sold Sell/List Ratio Sales Dollars $9 Average Price / Unit $9 Price Ratio Days To Sell 37 Active Listings at Month End 33 $ 28 8 3 7 23 $,599 $228 7 44 2 3 5 $4 $4 3 55 33 3786 565-54 Lease - Retail Units Listed 2 Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 2 4 $ 2-5 -5 6 3 9 $2,329 $776 46 23 3 3 $69 $23 242-3 3255 3255-39 Victoria Real Estate Board Multiple Listing Service 6

Monthly Comparative Activity By Property Type August--8 July 28 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 $ Change - $ Year To Date $ Change - Lease - Industrial Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 2 $ 2 $ $7 $7 2 6 - - Lease - Other Units Listed 4 Units Sold 3 Sell/List Ratio 75 Sales Dollars $2,46 Average Price / Unit $82 Price Ratio 4 Days To Sell 65 Active Listings at Month End 39 3 $ 25 33 56 28 5 8 $393,26 $78,652 333 5 3 9 3 $67 $9 3 273-7 -44 235329 423673-45 Commercial Land Units Listed 2 Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 8 4 $ 9-5 -5 6 $ 8 6 33 $8,82, $,47, 92 27 - - - Victoria Real Estate Board Multiple Listing Service 7

Monthly Comparative Activity By Property Type August--8 July 28 Current Month Change Year To Date Change Grand Totals Units Listed 48 Units Sold 65 Sell/List Ratio 62 Sales Dollars $539,522,888 Average Price / Unit $828,76 Price Ratio 5 Days To Sell 45 Active Listings at Month End 267 4 79 72 $56,859,273 $64,594 99 32 92-5 -8 6 29 4 36 7962 4552 57 $3,22,754, $77,547 36 833 577 72 $3,666,39,889 $635,252 35 - -2-2 4 Victoria Real Estate Board Multiple Listing Service 8