On first glance the Victoria BC Real Estate Market looks incredibly hot over the past month of October 2020. However, I took a closer look at the 3 major economic products in the market; Single Family Homes, Condos and Townhouses. The stats of the past month can show us how the story for each type of home can differ. In my opinion, Single Family Homes in Victoria are currently experiencing a very high priced Sellers Market. If Buyers are looking for their purchasing power to go farther, both Condo's and Townhouses might be worth exploring in more detail at this current point in the economic cycle.
If you are in the market for a 2bed 2bath new condo in the downtown area of Victoria BC, this video will be helpful in providing market context. Before you buy make sure to look at relevant stats that might help you find the best price point for your new home.