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Showing posts from January, 2018

Pricing Trends of Condominiums in Langford and Greater Victoria

Like all real estate sales in 2017, condominiums saw brisk sales! There was a total of 2,773 sold in Greater Victoria through the year, 370 of those being in Langford. At Triple Crown, we sold 34 of the 46 condominiums we have available, which means we contributed just over nine percent to that figure.

The average price of condominiums rose significantly through 2017, as did all other types of housing. We're happy to say our prices have remained the same, so we didn't contribute to the average rise in price. The Multiple Listing Service® Home Price Index benchmark value for condominiums was $449,460 in the Victoria downtown core, an increase over last year of 16.3 percent.


An interesting trend to note over the past 50 years of real estate prices in Greater Victoria is that prices tend to be flat for an average of eight to 13 years, then shoot up rapidly in a short time. In Langford, prices have more than doubled since 2005 but remained relatively flat from 2008 to 2016. What’s b…