Victoria Real Estate Market Continues to Sizzle in Summer Months. August , Victoria, BC

Victoria Real Estate Market Continues to Sizzle in Summer Months August 16, Victoria, BC A total of 97 properties sold in the Victoria Real Estate Board region this July, an increase of per cent compared to the 796 properties sold in July last year. Though we saw the seasonal slowdown that we expect this time of year, we had another record breaking month, says Mike Nugent, 16 President of the Board. The last time we saw a July this busy was in 9 when 933 properties sold. Inventory levels remain lower than last year, with,161 active listings for sale on the Victoria Real Estate Board Multiple Listing Service at the end of July 16, 45 per cent fewer than the 3,94 active listings at the end of July 15. Late last week the provincial government approved new legislation that may affect the real estate market in our area, though at this time we can only guess how a foreign investor s tax in the Metro Vancouver region will impact sales here in Victoria, adds Nugent. Recent data released by the government shows that nearly ten per cent of property transfers in Metro Vancouver involved foreign nationals. This is part of the rationale for applying a fifteen per cent tax on transactions only in Metro Vancouver at this time. Does this mean international demand will spill over into Victoria and other areas of BC? We won t know until we see the data. The Capital Regional District saw two per cent out of country buyers in the year of 15. Although this is a small percentage of our buyers, anecdotally foreign buyers do tend to favour the same core neighbourhoods and therefore can have an impact on those areas. The Multiple Listing Service Home Price Index benchmark value for a single family home in the Victoria Core in July, 15 was $599,8. The benchmark value for the same home in July 16 has increased by 3.6 per cent to $741,1. About VREB Founded in 191, 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 over 1, 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: Denise Hogue, Communications Manager - denise@vreb.org, 5.9.465

July 16 Statistics Package for Media Previous Periods Comparison of Unit Sales, Average Prices and Median Prices 1-Aug-16 Previous Periods Comparison of Unit Sales, Average Prices and Median Prices July 16 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 449 8 59 71 94 5 919 97 LM LY -3. 11.4 -.4 -.7-19.8. 66.7-17.4-17. 7. 17.6 3.7 3.7 9.3 1..1 This Month Last Month This Month 16 - July 16 - June 15 - July Average$ LM LY Median$ LM LY Units Average$ Median$ Units Average$ Median$ $757,94. 14. $664, 1.1 1.8 585 $758,146 $656,5 43 $663,791 $545, $547,45.6 8.4 $463,5-7.5 1.1 8 $543,917 $51, 47 $55,71 $41,1 $76,11 -.8 1. $64, 1.1 19.6 667 $731,89 $633,1 45 $647,14 $535, $359,986-1.8 16.7 $31,65-4. 16.7 338 $366,674 $36,5 19 $38,561 $68, $494,148 15.8 17.5 $439,9 1. 8.6 9 $46,689 $4,5 76 $4,71 $45, $157,48 11. 18.8 $155, 14.9 19. 15 $141,67 $134,9 13 $13,57 $13, 1,11 758 1,174 796 Active Listings,161-5.6-45.,89 3,94 Legend Units: net number of listings sold LM: percentage change since Last Month LY: percentage change since This Month Average$: 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 16 Benchmark Price June 16 Benchmark Price July 15 Benchmark Price July 16 Index Value June 16 Index Value July 15 Index Value LM LY Single Family Benchmark Home: Greater Victoria $63,5 $593,7 $511,9 174. 171. 147.6 1.7 17.9 Single Family Benchmark Home: Core $741,1 $74,9 $599,8 19.4 188. 155.7. 3.6 Single Family Benchmark Home: Westshore $47,3 $461,4 $43,4 153.4 15.5 138.1 1.9 11.1 Single Family Benchmark Home: Peninsula $653,3 $648,8 $554,5 169.8 168.6 144.1.7 17.8 Condo Benchmark Home: Greater Victoria $35, $34, $98,9 173. 169.3 147.9.3 17.1 Townhouse Benchmark Home: Greater Victoria $476, $461,9 $413,5 164.4 159.5 14.8 3.1 15. Legend Current Month: Last Month: : LM: LY: July 16 June 16 July 15 Percentage change between current month and last month Percentage change between current month and same month last year Victoria Real Estate Board July 16 Statistics

Total new MLS listings and total MLS sales for entire district Sales to Active Listings Ratio 8 7 6 5 4 3 1 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan 16 Feb 16 Mar 16 Apr 16 May 16 Jun 16 Jul 16 This chart tracks the ratio of total residential sales over total active residential listings at month-end for each of the last 5 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 5, there is upward pressure on prices (sellers' market) - in the 15- range, there is little pressure on prices either way (balanced market) Victoria Real Estate Board July 16 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 5, where each type of property and neighbourhood was assigned an index value of 1. Victoria Real Estate Board July 16 Statistics

HPIorBenchmark (Appliestoaltabs) HPI Benchmark Valueorpercentchange (Appliesonlytothistab) Value Percentchange Area VREBDistrictSummary PropertyType SingleFamily-Al BenchmarkbyTimeframeandPropertyType:SingleFamily-Al July16 1MonthAgo 3MonthsAgo 6MonthsAgo 1MonthsAgo 36MonthsAgo 6MonthsAgo January5 VictoriaREB Victoria VictoriaW est OakBay Esquimalt View Royal SaanichEast SaanichW est Sooke Langford Metchosin Colwood Highlands NorthSaanich Sidney CentralSaanich MLMalahat& Area GIGulfIslands $63,5 $593,7 $568,1 $55,1 $511,9 $479,3 $51,1 $735,7 $715,5 $67,5 $69,9 $583,5 $541, $565,6 $55,9 $515,5 $493,5 $451,7 $49,4 $416,7 $43,5 $1,99,5 $1,68,1 $967,7 $857,3 $89,7 $744,6 $791, $546,1 $544,4 $519,1 $476,3 $459, $437,3 $459,6 $67,8 $599, $573,4 $536, $519,1 $55,6 $54, $767, $747,6 $713,3 $636,3 $6,1 $566,5 $66, $615, $67,6 $58,7 $56,1 $5,7 $487, $518, $384,3 $38,7 $374,3 $355,8 $359,6 $361,8 $365, $476, $465,5 $449,5 $431,9 $44,5 $419,3 $445, $679,3 $666,9 $637,4 $599,7 $6,5 $613,5 $646,6 $533,5 $517,8 $499,8 $475,4 $468, $453,6 $495,3 $1,9,8 $1,43,4 $1,3,6 $93,4 $919,6 $773,6 $933, $78,3 $78,3 $739, $694, $66, $61, $667,3 $547,8 $554,7 $514,4 $485,4 $454,6 $46,9 $448, $61,8 $64,6 $59,9 $547, $54,8 $5,9 $536,1 $433,9 $431, $48,7 $415,8 $39,3 $371,1 $397, $38,6 $384, $366,7 $344,6 $363, $331,1 $375, $346,8 $37,1 $8,3 $55, $97,3 $337,3 $394,5 $336,8 $71, $38,5 $459,9 $3,8 $67,7 $481,1 $314,8 $36,5 $75,9 $91,5 Source:VictoriaRealEstateBoard

July16 1MonthAgo 3MonthsAgo 6MonthsAgo 1MonthsAgo 36MonthsAgo 6MonthsAgo January5 VictoriaREB Victoria VictoriaW est OakBay Esquimalt View Royal SaanichEast SaanichW est Sooke Langford Metchosin Colwood Highlands NorthSaanich Sidney CentralSaanich MLMalahat& Area GIGulfIslands 199. 197.7 194.4 193.5 19.3 189.5 183.7 183.1 18.6 18.6 18.8 18.4 18. 18. 179. 177.6 176. 175.3 174.8 174.6 174. 174. 173. 17.5 171. 17. 167.7 166.3 163.9 163.9 163.8 163.4 16.6 16. 161.4 161.3 16. 16. 158.9 157.7 157.3 156.8 156.3 156. 155.8 155.4 155.4 155.3 155. 155.1 154.6 154.4 154.4 154.3 154. 153.9 153.8 153.6 153.6 153. 153. 153.1 15.1 15. 151.8 151.4 15.9 15.7 15.3 15. 149.9 148.7 148. 147.7 147.6 147.6 147.1 147.1 145.9 145.7 145.4 145. 144.6 144.4 144.3 144.3 143.9 143.6 143.3 14.3 14. 141.7 141.4 141.1 14.6 14. 139.5 138.7 138.7 138.6 138.6 138. 138. 137.6 137.6 136.7 135.9 135.6 134.9 134.6 134.5 133.4 133.4 13.6 131.8 131. 131. 13.6 13.4 18.7 17. 15.8 14.6 118. 115. 113.6 HPIbyTimeframeandPropertyType:SingleFamily-Al HPIorBenchmark (Appliestoaltabs) HPI Benchmark PropertyType SingleFamily-Al Area VREBDistrictSummary Valueorpercentchange (Appliesonlytothistab) Value Percentchange Source:VictoriaRealEstateBoard

HPIorBenchmark (Appliestoaltabs) HPI Benchmark Valueorpercentchange (Appliesonlytothistab) Value Percentchange Area VREBDistrictSummary PropertyType CondoApartment BenchmarkbyTimeframeandPropertyType:CondoApartment July16 1MonthAgo 3MonthsAgo 6MonthsAgo 1MonthsAgo 36MonthsAgo 6MonthsAgo January5 VictoriaREB $35, $34, $36,8 $33,8 $98,9 $86,4 $35,4 $,1 Victoria $339,1 $38,9 $311, $86,7 $79,5 $68,1 $83,1 $189,9 VictoriaW est $611,1 $68,5 $58,7 $561,7 $535,3 $465,9 $489,6 $338,8 OakBay $381,6 $359,9 $353,6 $37,8 $319,6 $31,7 $353,8 $55,1 Esquimalt $87,3 $8,3 $73,3 $73,4 $59,1 $48,7 $59, $155,7 View Royal $385, $383,8 $371, $356,7 $35,9 $333, $353,7 $33, SaanichEast $73,1 $67, $61,1 $43,3 $4,5 $4,5 $67,9 $16,7 SaanichW est $49,9 $46,3 $37,3 $5, $1,4 $3,6 $4,5 $144,8 Langford $95,6 $9,9 $78,9 $65,8 $64,9 $63,9 $69,4 $186,8 Colwood $85,4 $83,3 $69,4 $58,9 $57, $58,9 $67,4 $181,4 Sidney $377,6 $373,5 $355,3 $33,9 $37,3 $84,7 $31,5 $31,3 Source:VictoriaRealEstateBoard

HPIorBenchmark (Appliestoaltabs) HPI Benchmark Valueorpercentchange (Appliesonlytothistab) Value Percentchange Area VREBDistrictSummary PropertyType CondoApartment HPIbyTimeframeandPropertyType:CondoApartment July16 1MonthAgo 3MonthsAgo 6MonthsAgo 1MonthsAgo 36MonthsAgo 6MonthsAgo January5 VictoriaREB 173. 169.3 161.7 15.3 147.9 141.7 151.1 Victoria 178.6 173. 163.9 151. 147. 141. 149.1 VictoriaW est 18.4 179.6 171.4 165.8 158. 137.5 144.5 OakBay 149.6 141.1 138.6 18.5 15.3 16.1 138.7 Esquimalt 184.5 18. 175.5 175.6 166.4 159.7 166.5 View Royal 165.3 164.7 159.3 153.1 15.6 143. 151.8 SaanichEast 169.9 166.3 16.5 151.4 15.9 15.9 166.7 SaanichW est 17.6 17.1 163.9 155.5 15.9 154.4 167.5 Langford 158. 156.8 149.3 14.3 141.8 141.3 144. Colwood 157.1 156. 148.5 14.7 141.8 14.7 147.4 Sidney 163. 161.5 153.6 131.4 141.5 13.1 139. Source:VictoriaRealEstateBoard

HPIorBenchmark (Appliestoaltabs) HPI Benchmark Valueorpercentchange (Appliesonlytothistab) Value Percentchange Area VREBDistrictSummary PropertyType Townhouse BenchmarkbyTimeframeandPropertyType:Townhouse July16 1MonthAgo 3MonthsAgo 6MonthsAgo 1MonthsAgo 36MonthsAgo 6MonthsAgo January5 VictoriaREB $476, $461,9 $44, $43,7 $413,5 $393,6 $417,3 $89,6 Victoria $499,1 $485,3 $45,5 $435,9 $419,3 $4,4 $43, $86, VictoriaW est $384,3 $36,7 $333,5 $34,7 $35,1 $94,1 $97,5 $189,4 OakBay $65,3 $68,1 $564,9 $549,6 $53, $515,3 $567,7 $4,9 Esquimalt $49, $46,5 $37,4 $355,9 $356,3 $335,5 $337,9 $1,3 View Royal $486,8 $458,3 $45,4 $43,5 $41,1 $366, $381,1 $54,9 SaanichEast $597,3 $58,6 $556, $537,6 $5,5 $489,6 $516, $364, SaanichW est $498,9 $483,3 $469, $453,6 $439,9 $414,7 $46,7 $86, Sooke $38,3 $371,1 $363,4 $347,9 $33,1 $348, $363,1 $86,8 Langford $34,7 $338,3 $335, $3,6 $31,9 $33,5 $34,6 $55,7 Colwood $41,9 $44,6 $398,5 $384,1 $368,7 $383,5 $48,5 $31,7 Sidney $419,5 $411,7 $4,3 $389,5 $373,6 $364, $39,3 $77,8 CentralSaanich $48,4 $469,5 $463,1 $447, $45,7 $397, $41, $94, MLMalahat& Area $41,6 $394, $385,1 $355,9 $36,7 $33,1 $386,9 $5, GIGulfIslands $391,8 $381, $385,7 $357,7 $37, $389,8 $47, $9, Source:VictoriaRealEstateBoard

July16 1MonthAgo 3MonthsAgo 6MonthsAgo 1MonthsAgo 36MonthsAgo 6MonthsAgo January5 VictoriaREB Victoria VictoriaW est OakBay Esquimalt View Royal SaanichEast SaanichW est Sooke Langford Colwood Sidney CentralSaanich MLMalahat& Area GIGulfIslands.9 193.8 191.5 191. 183.7 179.8 176.1 174.5 174.4 169.7 169. 168.3 166.9 164.4 164.1 164.1 164. 161.9 161.6 161.1 161. 16.9 16.9 16.8 159.7 159.5 159.5 159. 158.6 158.3 157.5 157.5 157.1 156.3 155.9 155.3 153.8 153.4 15.8 15.7 15.7 15.7 15.4 15.1 151.6 151. 149.5 149. 148. 147.9 147.7 146.6 146.3 145. 144.8 144.1 144.1 143.8 143.6 143. 143. 14.8 141.8 141.1 14.9 14.5 14. 14. 14. 136.4 136. 135.9 135.4 135.1 134.5 134.5 134.1 134.1 134. 133.4 133. 13.6 13.3 13.1 13. 131.6 131.1 131. 13.9 13.4 19.4 17.9 17.3 17.3 17.1 16.7 16.6 16.5 15.4 1.4 1. 11.6 11.4 11.3 115.8 HPIbyTimeframeandPropertyType:Townhouse HPIorBenchmark (Appliestoaltabs) HPI Benchmark PropertyType Townhouse Area VREBDistrictSummary Valueorpercentchange (Appliesonlytothistab) Value Percentchange Source:VictoriaRealEstateBoard

Area PropertyType SingleFamily- Al SingleFamily- 1Storey SingleFamily- Storey Townhouse Condo Apartment Composite VictoriaREB Core Westshore Peninsula GulfIslands Malahat&Area Area/PropertyTypeSelectionTool ToSelectMultipleOptions: HoldCTRLandclicktheselectionsbelow SelectDateRange: Alvalues Source:VictoriaRealEstateBoard HPIorBenchmark (Appliestoaltabs) HPI Benchmark BenchmarkPerformanceoverTime Area VREBAreaSummary Selecttheredmarker(s)from thearea/propertytype SelectionToolMatrixontherighttographyourselection. Jan6 Jan8 Jan1 Jan1 Jan14 Jan16 Benchmark($) 3, 4, 5, 6, 7, Core SingleFamily-Al Peninsula SingleFamily-Al VictoriaREB SingleFamily-Al Westshore SingleFamily-Al

Area PropertyType SingleFamily- Al SingleFamily- 1Storey SingleFamily- Storey Townhouse Condo Apartment Composite VictoriaREB Core Westshore Peninsula GulfIslands Malahat&Area Area/PropertyTypeSelectionTool ToSelectMultipleOptions: HoldCTRLandclicktheselectionsbelow SelectDateRange: Alvalues Source:VictoriaRealEstateBoard HPIorBenchmark (Appliestoaltabs) HPI Benchmark BenchmarkPerformanceoverTime Area VREBAreaSummary Selecttheredmarker(s)from thearea/propertytype SelectionToolMatrixontherighttographyourselection. Jan6 Jan8 Jan1 Jan1 Jan14 Jan16 Benchmark($), 5, 3, 35, Core CondoApartment Peninsula CondoApartment VictoriaREB CondoApartment Westshore CondoApartment

Area PropertyType SingleFamily- Al SingleFamily- 1Storey SingleFamily- Storey Townhouse Condo Apartment Composite VictoriaREB Core Westshore Peninsula GulfIslands Malahat&Area Area/PropertyTypeSelectionTool ToSelectMultipleOptions: HoldCTRLandclicktheselectionsbelow SelectDateRange: Alvalues Source:VictoriaRealEstateBoard HPIorBenchmark (Appliestoaltabs) HPI Benchmark BenchmarkPerformanceoverTime Area VREBAreaSummary Selecttheredmarker(s)from thearea/propertytype SelectionToolMatrixontherighttographyourselection. Jan6 Jan8 Jan1 Jan1 Jan14 Jan16 Benchmark($) 3, 4, 5, Core Townhouse Peninsula Townhouse VictoriaREB Townhouse Westshore Townhouse

Area PropertyType SingleFamily- Al SingleFamily- 1Storey SingleFamily- Storey Townhouse Condo Apartment Composite VictoriaREB Core Westshore Peninsula GulfIslands Malahat&Area Area/PropertyTypeSelectionTool ToSelectMultipleOptions: HoldCTRLandclicktheselectionsbelow SelectDateRange: Alvalues Source:VictoriaRealEstateBoard HPIorBenchmark (Appliestoaltabs) HPI Benchmark BenchmarkPerformanceoverTime Area VREBAreaSummary Selecttheredmarker(s)from thearea/propertytype SelectionToolMatrixontherighttographyourselection. Jan6 Jan8 Jan1 Jan1 Jan14 Jan16 Benchmark($), 3, 4, 5, 6, VictoriaREB SingleFamily-Al Townhouse CondoApartment

Monthly Sales Summary Monday, August 1, 16 July 16 Region District Residential Single Family Greater Victoria Units Total Volume Victoria 49 $38,1,8 Victoria West 3 $1,653,5 Oak Bay 18 $3,18,188 Esquimalt 14 $8,17,4 View Royal 7 $4,861,5 Saanich East 9 $78,95,3 Saanich West 39 $3,775,9 Central Saanich $16,14,7 North Saanich 17 $13,116,5 Sidney 1 $7,68,8 Highlands 4 $3,818,9 Colwood 31 $19,398,5 Langford 7 $4,666,975 Metchosin 5 $3,83, Sooke 44 $19,849,5 Waterfront (all districts) $37,1, Total Greater Victoria 449 $34,315,13 Other Areas Shawnigan Lake / Malahat 7 $3,98,5 Gulf Islands 36 $1,461,7 UpIsland / Mainland $1,5,69 Waterfront (all districts) 15 $9,7, Total Other Areas 8 $43,79,415 Total Single Family 59 $384,17,48 Condominium Greater Victoria Victoria 93 $33,654,7 Victoria West 1 $11,944,588 Oak Bay 6 $,46, Esquimalt 1 $,969,3 View Royal 19 $5,59,5 Saanich East 41 $1,991,9 Saanich West 11 $3,6,5 Central Saanich 4 $1,469,8 Sidney 8 $,763,5 Colwood 4 $1,13, Langford 6 $7,467,7 Sooke 4 $7,5 Waterfront (all districts) $11,169,1 Total Greater Victoria 69 $97,18,88 Other Areas UpIsland / Mainland $448, Total Other Areas $448, Total Condominium 71 $97,556,88 Victoria Real Estate Board Multiple Listing Service 1

Monthly Sales Summary Monday, August 1, 16 July 16 Region District Townhouse Greater Victoria Units Total Volume Victoria 8 $4,68,9 Victoria West 4 $,598, Esquimalt 1 $416, View Royal 1 $4,67,3 Saanich East 14 $8,314,74 Saanich West 6 $,6, Central Saanich 6 $3,95,9 Sidney 5 $,79,6 Colwood 4 $,648,5 Langford $7,639,7 Sooke 4 $1,55,8 Waterfront (all districts) 9 $4,844,7 Total Greater Victoria 91 $45,86,14 Other Areas Gulf Islands $85, UpIsland / Mainland 1 $538,8 Total Other Areas 3 $1,363,8 Total Townhouse 94 $46,449,94 Manufactured Homes Greater Victoria View Royal 4 $74,3 Central Saanich 6 $97,8 Sidney $645, Langford 6 $599,4 Sooke 4 $496,5 Waterfront (all districts) $364, Total Greater Victoria 4 $3,737, Other Areas Gulf Islands 1 $, Total Other Areas 1 $, Total Manufactured Homes 5 $3,937, Total Residential 919 $53,5,44 Victoria Real Estate Board Multiple Listing Service

Monthly Sales Summary Monday, August 1, 16 July 16 Region District Other Property Lots & Acreage (Incl Wtrfrnt) Greater Victoria Units Total Volume Victoria $84, Esquimalt $699,9 View Royal 1 $1,55, North Saanich 5 $,877, Highlands 1 $455, Colwood $1,379, Langford 1 $, Sooke 7 $,84,8 Total Greater Victoria 1 $1,8,7 Other Areas Shawnigan Lake / Malahat 1 $395, Gulf Islands 1 $,177,5 UpIsland / Mainland 1 $18, Total Other Areas 14 $,75,5 Total Lots & Acreage (Incl Wtrfrnt) 35 $13,573, Commercial Land Other Commercial Properties $5,65, 16 $1,45,976 Grand Totals 97 $561,674,616 Victoria Real Estate Board Multiple Listing Service 3

Active Listings, New Listings and Sales July 16 Monday, August 1, 16 4,7 Total Active MLS Listings 4,5 4,3 4,1 3,9 3,7 3,5 3,3 3,1,9,7,5,3,1 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan 16 Feb 16 Mar 16 Apr 16 May 16 Jun 16 Jul 16 Total New MLS Listings and Total MLS Sales, 1,8 1,6 1,4 1, 1, 8 6 4 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan 16 Feb 16 Mar 16 Apr 16 May 16 Jun 16 Jul 16 Listings Sales Victoria Real Estate Board Multiple Listing Service

Sales to Active Listings Ratio July 16 Monday, August 1, 16 8 7 6 5 4 3 1 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan 16 Feb 16 Mar 16 Apr 16 May 16 Jun 16 Jul 16 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 5 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, there is upward pressure on prices (sellers' market) - in the 14- 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-1-16 July 16 Single Family - Residential Units Listed 513 Units Sold 49 Sell/List Ratio 84 Sales Dollars $9,63,58 Average Price / Unit $677,465 Price Ratio 1 Days To Sell 3 Active Listings at Month End 575 Current Month 49 36 73 $1,397,154 $584,437 98 49 1153 Change 5 19 38 16-35 -5 4 336 84 $,3,69,975 $684,137 1 34 Year To Date 3871 457 63 $1,453,585,5 $591,61 98 49 Change 4 37 58 16-31 Single Family - Residential Waterfront Units Listed 35 Units Sold 35 Sell/List Ratio 1 Sales Dollars $45,617, Average Price / Unit $1,33,343 Price Ratio 97 Days To Sell 1 Active Listings at Month End 185 51 36 71 $46,596,388 $1,94,344 97 85 61-31 -3-1 41-9 365 4 56 $53,378,978 $1,4,54 96 1 413 187 45 $6,659,111 $1,15,19 95 111-1 9 3 1-1 Single Family - Residential Acreage Units Listed 59 Units Sold 45 Sell/List Ratio 76 Sales Dollars $36,175, Average Price / Unit $83,893 Price Ratio 97 Days To Sell 47 Active Listings at Month End 186 79 3 38 $4,17,15 $8,57 96 95 315-5 5 51-51 -41 53 3 64 $68,416,946 $833,593 98 79 476 11 44 $147,43,447 $698,7 96 114 6 53 8 19-31 Condominium Units Listed 73 Units Sold 71 Sell/List Ratio 99 Sales Dollars $97,556,88 Average Price / Unit $359,986 Price Ratio 1 Days To Sell 33 Active Listings at Month End 346 7 19 81 $67,574,91 $38,561 97 7 796 4 44 17-54 -57 9 1915 87 $666,3,99 $347,939 99 4 18 154 57 $41,5,338 $36,974 97 61 1 53 63 6-31 Victoria Real Estate Board Multiple Listing Service 1

Monthly Comparative Activity By Property Type August-1-16 July 16 Townhouse Units Listed 16 Units Sold 93 Sell/List Ratio 88 Sales Dollars $45,699,94 Average Price / Unit $491,397 Price Ratio 1 Days To Sell 31 Active Listings at Month End 15 Current Month 13 76 58 $31,973,933 $4,71 98 54 331 Change -18 43 17-4 -68 749 689 9 $315,597,818 $458,5 1 4 Year To Date 863 59 59 $9,857,777 $41,94 98 67 Change -13 35 5 11-37 Strata Duplex (Up and Down) Units Listed Units Sold 1 Sell/List Ratio Sales Dollars $55, Average Price / Unit $55, Price Ratio 1 Days To Sell 66 Active Listings at Month End $ 3-33 6 3 5 $1,343,9 $447,967 1 76 7 3 43 $1,849,8 $616,6 96 3-14 -7-7 139 Strata Duplex (Side by Side) Units Listed 13 Units Sold 9 Sell/List Ratio 69 Sales Dollars $4,3, Average Price / Unit $47, Price Ratio 1 Days To Sell 41 Active Listings at Month End 15 11 15 136 $6,55,738 $43,716 99 39 9 18-4 -3 16 5-48 97 74 76 $38,569,111 $51,4 1 38 98 57 58 $3,351,88 $49,67 98 51-1 3 65 7-6 Strata Duplex (Front and Back) Units Listed 3 Units Sold Sell/List Ratio 67 Sales Dollars $77,7 Average Price / Unit $353,85 Price Ratio 99 Days To Sell 3 Active Listings at Month End 5 5 4 $793,8 $396,9 98 6 8-4 -11-11 -5-38 1 17 81 $8,749, $514,647 1 34 1 45 $4,815, $481,5 96 46-5 7 8 7-7 Victoria Real Estate Board Multiple Listing Service

Monthly Comparative Activity By Property Type August-1-16 July 16 Recreational Units Listed 8 Units Sold 1 Sell/List Ratio 13 Sales Dollars $7, Average Price / Unit $7, Price Ratio 91 Days To Sell 397 Active Listings at Month End 3 Current Month 5 3 6 $391, $13,333 88 5 18 Change 6-67 -8-46 663 67 5 5 $67, $134, 89 85 Year To Date 1 6 9 $743, $13,833 9 45 Change 19-17 -1 8 59 Manufactured Home Units Listed 3 Units Sold 5 Sell/List Ratio 19 Sales Dollars $3,937, Average Price / Unit $157,48 Price Ratio 96 Days To Sell 6 Active Listings at Month End 43 6 13 5 $1,7,85 $13,57 93 83 76-1 9 19 19-5 -43 15 17 85 $18,985,533 $149,49 95 69 18 113 63 $14,4,45 $16, 93 89-17 1 33 19-3 Residential Lots Units Listed 3 Units Sold Sell/List Ratio 87 Sales Dollars $5,34,7 Average Price / Unit $67,35 Price Ratio 98 Days To Sell 136 Active Listings at Month End 18 46 17 37 $,989,3 $175,841 93 154 35-5 18 79 5-1 -54 4 166 81 $56,7,593 $341,57 96 135 59 91 35 $3,387,1 $57, 94 16-1 8 14 33 7 Residential Lots - Waterfront Units Listed 5 Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 6 1 $1,68, $534, 93 178 43-5 -1-1 -4 36 17 47 $1,39,5 $74,88 94 15 54 14 6 $4,36,4 $37,6 9 3-33 1 186 135-6 Victoria Real Estate Board Multiple Listing Service 3

Monthly Comparative Activity By Property Type August-1-16 July 16 Residential Acreage Units Listed 1 Units Sold 1 Sell/List Ratio 57 Sales Dollars $5,968,5 Average Price / Unit $497,375 Price Ratio 94 Days To Sell 71 Active Listings at Month End 167 Current Month 4 9 38 $,564, $84,889 93 178 3 Change -13 33 133 75 5-18 163 86 53 $34,396, $399,953 95 84 Year To Date 153 51 33 $1,884,99 $5,633 88 6 Change 7 69 167 58 9 Residential Acreage - Waterfront Units Listed 4 Units Sold 3 Sell/List Ratio 75 Sales Dollars $,64, Average Price / Unit $754,667 Price Ratio 94 Days To Sell 384 Active Listings at Month End 55 5 3 6 $5,185, $1,78,333 99 164 76 - -56-56 134-8 54 35 65 $19,976,5 $57,757 9 97 54 11 $9,44,33 $858,367 95 4 18 11-34 4 Revenue - Duplex/Triplex Units Listed 8 Units Sold 8 Sell/List Ratio 1 Sales Dollars $6,873, Average Price / Unit $859,15 Price Ratio 14 Days To Sell 9 Active Listings at Month End 13 7 4 57 $,995, $748,75 98 41 19 14 1 19 15-3 -3 46 33 7 $6,715,4 $89,558 1 49 47 7 57 $16,834,5 $63,491 97 37-59 3 3 Revenue - Multi Units Units Listed Units Sold 3 Sell/List Ratio 15 Sales Dollars $3,1, Average Price / Unit $1,73,667 Price Ratio 1 Days To Sell 35 Active Listings at Month End 1 7 9 $,1, $1,15, 95 19 19-71 5 46-3 -8-47 15 75 $17,118,65 $1,141,43 98 49 6 1 46 $1,531,9 $1,44,35 95 14-3 5 37 9-53 Victoria Real Estate Board Multiple Listing Service 4

Monthly Comparative Activity By Property Type August-1-16 July 16 Revenue - Apartment Block Units Listed 3 Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 3 Current Month $ 3 Change 5 5 4 $,3, $1,16, 97 43 Year To Date 4 1 5 $1,36, $1,36, 11 15 Change 5 1 71-15 183 Revenue - Commercial Units Listed 7 Units Sold 5 Sell/List Ratio 71 Sales Dollars $3,38,448 Average Price / Unit $676,9 Price Ratio 14 Days To Sell 13 Active Listings at Month End 51 13 15 $,58,8 $1,19,4 94 16 55-46 15 5-4 -3-7 63 15 4 $1,581,448 $838,763 94 14 69 13 19 $13,778,47 $1,59,877 9 111-9 15-9 -1 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 3 1 $ -1 5 $ 1 $ 1 Business with Land & Building Units Listed 7 Units Sold 5 Sell/List Ratio 71 Sales Dollars $3,764,5 Average Price / Unit $75,9 Price Ratio 96 Days To Sell 1 Active Listings at Month End 44 18 11 $65,11 $35,6 1 97 78-61 15 479 13 117-44 48 3 48 $1,918,495 $561,674 94 183 75 15 $1,3,544 $668,836 9-36 53 9-16 -17 Victoria Real Estate Board Multiple Listing Service 5

Monthly Comparative Activity By Property Type August-1-16 July 16 Business Only Units Listed 8 Units Sold 1 Sell/List Ratio 13 Sales Dollars $6, Average Price / Unit $6, Price Ratio 87 Days To Sell 494 Active Listings at Month End 73 Current Month 11 $ 6 Change -7 18 85 1 14 $1,38, $19, 79 178 Year To Date 59 8 14 $1,37,5 $19,688 95 36 Change 44 5 6-16 -5 Motel/Hotel Units Listed 1 Units Sold 1 Sell/List Ratio 1 Sales Dollars $5,, Average Price / Unit $5,, Price Ratio 1 Days To Sell 541 Active Listings at Month End 4 $ 8-5 -5 4 1 5 $5,, $5,, 1 541 7 3 43 $,941,46 $98,487 7 394-43 -67 77 43 37 Lease - Office Units Listed 1 Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 34 4 $ 33-75 3 8 6 1 $89 $15 7 15 3 9 $875,16 $437,58 3-1 -1-39 Lease - Retail Units Listed 1 Units Sold 1 Sell/List Ratio 1 Sales Dollars $8 Average Price / Unit $8 Price Ratio Days To Sell 415 Active Listings at Month End 18 $ 35-5 -49 6 8 31 $99 $116 116 67 34 6 18 $149 $5 5 7-4 33 5 366 9 Victoria Real Estate Board Multiple Listing Service 6

Monthly Comparative Activity By Property Type August-1-16 July 16 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 $ 1 Change -1-1 $ Year To Date 1 $ Change -1 Lease - Industrial Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 1 $ 4-75 1 $4 $1 116 4 1 5 $18 $18 1 44-75 1 36-3 -5 Lease - Other Units Listed Units Sold 1 Sell/List Ratio Sales Dollars $ Average Price / Unit $ Price Ratio Days To Sell 3 Active Listings at Month End 36 8 1 13 $4,5 $4,5 1 1 46-1 -1-1 167-43 8 19 $,434 $34 16 7 34 9 6 $5,863 $651 11 6-11 -58-53 -64 Commercial Land Units Listed 3 Units Sold 1 Sell/List Ratio 33 Sales Dollars $45, Average Price / Unit $45, Price Ratio 85 Days To Sell 8 Active Listings at Month End 3 5 $ 3-4 -3 3 6 6 $5,547, $94,5 83 71 5 7 8 $9,15,4 $1,87,861 88 57-8 -14-38 -8 5 Victoria Real Estate Board Multiple Listing Service 7

Monthly Comparative Activity By Property Type August-1-16 July 16 Current Month Change Year To Date Change Grand Totals Units Listed 117 Units Sold 97 Sell/List Ratio 86 Sales Dollars $561,674,616 Average Price / Unit $577,855 Price Ratio 1 Days To Sell 46 Active Listings at Month End 161 135 796 64 $49,447,536 $514,381 98 64 394-9 37 1-8 -45 8998 7153 79 $4,79,179,314 $57,75 1 5 96 578 56 $,59,989,89 $51,38 97 66-1 41 57 1-4 Victoria Real Estate Board Multiple Listing Service 8

Previous Periods Comparison of Unit Sales, Average Prices and Median Prices 1-Aug-16 July 16 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 449 8 59 71 94 5 919 97 LM -3. -.4 -.7-19.8. 66.7-17.4-17. LY 11.4 7. 17.6 3.7 3.7 9.3 1..1 This Month Last Month This Month 16 - July 16 - June 15 - July Average$ LM LY Median$ LM LY Units Average$ Median$ Units Average$ Median$ $757,94. 14. $664, 1.1 1.8 585 $758,146 $656,5 43 $663,791 $545, $547,45.6 8.4 $463,5-7.5 1.1 8 $543,917 $51, 47 $55,71 $41,1 $76,11 -.8 1. $64, 1.1 19.6 667 $731,89 $633,1 45 $647,14 $535, $359,986-1.8 16.7 $31,65-4. 16.7 338 $366,674 $36,5 19 $38,561 $68, $494,148 15.8 17.5 $439,9 1. 8.6 9 $46,689 $4,5 76 $4,71 $45, $157,48 11. 18.8 $155, 14.9 19. 15 $141,67 $134,9 13 $13,57 $13, 1,11 758 1,174 796 Active Listings,161-5.6-45.,89 3,94 Legend Units: net number of listings sold LM: percentage change since Last Month LY: percentage change since This Month Average$: average selling price Median$: median selling price Active Listings: total listings on the market at midnight on the last day of the month Victoria Real Estate Board Multiple Listing Service 1