When it comes to how long it will take to sell a home in Victoria, it’s important to consider the overall market conditions and the area your home is in.
At the time of writing this article in early March of 2021, Victoria’s housing market is experiencing historically low inventory, heightened demand from Buyers, and, according to a recent CTV News Vancouver Island article, “pressure on single family homes [that] continues to ramp up.”
While select homes have been selling within days of being listed, other homes can take much longer to sell for a variety of factors.
Using data from the Victoria Real Estate Board, here’s a look at how long it took for single-family homes to sell across Victoria in February 2021.
Victoria
Homes Sold : 39
Average Sale Price: $1,218,285
Average Days on Market: 24
Median Sale Price: $1,010,000
Median Days on Market: 8
Victoria West
Homes Sold: 3
Average Sale Price: $889,967
Average Days on Market: 32
Median Sale Price: $869,900
Median Days on Market: 10
Oak Bay
Homes Sold: 24
Average Sale Price: $2,122,442
Average Days on Market: 13
Median Sale Price: $1,904,750
Median Days on Market: 8
Saanich East
Homes Sold: 72
Average Sale Price: $1,371,206
Average Days on Market: 28
Median Sale Price: $1,239,000
Median Days on Market: 13
Saanich West
Homes Sold: 19
Average Sale Price: $1,107,247
Average Days on Market: 9
Median Sale Price: $899,000
Median Days on Market: 7
View Royal
Homes Sold: 7
Average Sale Price: $1,127,179
Average Days on Market: 14
Median Sale Price: $1,050,000
Median Days on Market: 6
Esquimalt
Homes Sold: 3
Average Sale Price: $844,333
Average Days on Market: 10
Median Sale Price: $883,000
Median Days on Market: 9
Langford
Homes Sold: 45
Average Sale Price: $981,210
Average Days on Market: 37
Median Sale Price: $870,000
Median Days on Market: 6
Colwood
Homes Sold: 21
Average Sale Price: $990,140
Average Days on Market: 19
Median Sale Price: $951,830
Median Days on Market: 7
Sooke
Homes Sold: 34
Average Sale Price: $1,005,643
Average Days on Market: 26
Median Sale Price: $782,950
Median Days on Market: 14
Key Sales Data – February 2021
8 days — the median time on market amongst every Greater Victoria & Westshore area
6 days — the shortest median time on market by area, shared by Langford & View Royal
14 days — the longest median time on market amongst every Greater Victoria & Westshore area
72 — the number of homes sold in Saanich East, more than Victoria, Vic West, & Oak Bay combined
Is Now the Right Time to Sell My Home in Victoria?
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