We have sold a property at 401 909 Pembroke St in Victoria

We have sold a property at 401 909 Pembroke St in Victoria.
Open House Saturday 11am-1pm. New price on this bright and sunny one-bedroom, located on the quiet side of the building. The traditional layout - is private and cozy. Large covered balcony with two glass doors- BBQs allowed. All ages, rentals & pets are welcome. Updated flooring, kitchen countertops, & completely renovated bathroom. Comes with 1 parking spot & storage locker. Well-maintained building with windows & patio doors replaced in 2010 & balconies resurfaced. Solar panels have been installed on the roof as part of the common area hydro supply. Great central location, across from Crystal Pool & within walking distance to downtown, groceries, shopping, restaurants, entertainment & public transit.

A total of 775 properties sold in the Victoria Real Estate Board region this May, 1.8 per cent more than the 761 properties sold in May 2022 and a 21.7 per cent increase from April 2023. Sales of condominiums were down 0.8 per cent from May 2022 with 248 units sold. Sales of single family homes increased 8.7 per cent from May 2022 with 399 sold.

“The month of May marks the highest number of sales we’ve seen since April of last year,” said Victoria Real Estate Board Chair Graden Sol. “While we haven’t seen the number of total sales we would expect in a spring market, the month of May marks the fourth consecutive month with sales higher than the month previous. With momentum building, there’s an indication of consumer optimism in the market heading into June. However, if the ongoing lack of homes for sale persists and inventory is not added, we risk a return to an overheated market with pressure on pricing.” 

There were 2,189 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of May 2023, an increase of 7.1 per cent compared to the previous month of April and a 23.3 per cent increase from the 1,776 active listings for sale at the end of May 2022. 

“The return of consumer confidence we indicated last month appears to be staying strong,” adds Sol. “The slight uptick in inventory means there is more selection, though of course on well-priced properties buyers need to come prepared to move at pace with the help of their REALTOR® to ensure they are well positioned in the current market.”

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in May 2022 was $1,424,000. The benchmark value for the same home in May 2023 decreased by 8.9 per cent to $1,297,600, which is up from April’s value of $1,295,800. The MLS® HPI benchmark value for a condominium in the Victoria Core area in May 2022 was $619,500, while the benchmark value for the same condominium in May 2023 decreased by 8.1 per cent to $569,300, which is up from the April value of $564,000.

MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.