FRANK & WENDY BERKE – REALTORS

“EXPERIENCE REALLY DOES MATTER”

Victoria Market Report 

Choosing the right Real Estate agent is one of the most important decisions you will make.

We bring a unique approach to each Real Estate transaction and interaction with clients. Offering a deep knowledge of real estate and the local and economic issues shaping Victoria and area. We also have international real estate experience adding to our wealth of knowledge and experience. The goal is to be the most dedicated and responsive realtors our clients have ever met.

A home is not a home because of its room dimensions or the color of the walls. It is about how you feel when you walk through the front door. And the way you can instantly envision your life unfolding there. This is about more than real estate. It is about your life and your dreams. We utilize the latest technologies, market research and business strategies to exceed your expectations. More importantly, we listen and find solutions that are tailored to you.

As career professionals we pride ourselves in providing our clients the very highest level of service. You can rely on us to listen to your needs, ask the right questions, provide honest answers and always look out for your best interests.

Frank 250.818.0723
2405 Bevan Ave.
Sidney, BC V8L 0C3

Wendy 250.208.3075
3795 Carey St.
Victoria BC V8Z 6T8

The supply of available properties is up over last year with prices remaining quite strong.

November, 2022   A total of 480 properties sold in the Victoria Real Estate Board region this October, 35.6 per cent fewer than properties sold in October. Sales of condominiums were down 39 per cent from October 2021. Sales of single-family homes decreased 32.2 per cent from October 2021.

There’s been a slight increase in the month over month sales,” says Victoria Real Estate Board President Karen Dinnie-Smyth. October sales have shown an increase in activity and well-priced homes are receiving plenty of attention – some receiving multiple offers. Overpriced properties in this market, are sitting. If you are considering selling a property, it is important to get an up-to-date Market Analysis to insure your property is priced properly.

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in October 2021 was $1,216,900. The benchmark value for the same home in October 2022 increased by 10.2 per cent to $1,341,400 but was down 1.7 per cent from September’s value of $1,364,200. The MLS® HPI benchmark value for a condominium in the Victoria Core area in October 2021 was $524,500, while the benchmark value for the same condominium in October 2022 increased by 14.9 per cent to $602,700, down by 2.4 per cent from the September value of $617,400

October real-estate data shows the Victoria’s housing market may be nearing a price floor.  Indications are that properties may be nearing a value and demand  bottom, following several months of declines and a slow-down in home buying, according to the latest figures from the Victoria Real-Estate Board (VREB).

Of course rising mortgage rates have also contributed to the market slow down. This has especially impacted first time home buyers. Many of our collogues believe that the current market will likely continue to sail on without much fanfare into the spring buying season, provided interest rates stabilize and consumers gain confidence in mortgage offerings.

Featured Properties

We are proud to present these featured Home Listings within the Victoria, BC Real Estate market. New property listings are added frequently, so please check back often.

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NOTE: MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification. This website may only be used by consumers for the purpose of locating and purchasing real estate.

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