Karelyn Campbell

Cell: 250-618-8213 |

February 2021 Market Update

Buyer demand continues to outweigh supply in the VIREB market and competition for those few precious listings is fierce. Buyers continue to be frustrated with thier home search as inventory numbers reached an all-time low. The BCREA does not see the inventory situation improving until more supply comes on the market later this year. The BCREA and local real estate boards are advocating with policy makers to encourage streamlining the development process so that municipalities can expand supply more quickly to meet the growing demand. 


It is an exciting time to sell your home as the robust market is impacting prices. Single family homes as a 15% increase over February 2020. Last month, we saw a 56% increase in the sales of single family homes since the same period last year with 417 units sold. 


More than ever, it's important for buyers and sellers alike to work with a realtor to help them navigate the ever-changing envorinment. 

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.