{
  "id": "home-sale-values",
  "category": "Housing",
  "title": "Average value of homes sold, City of Victoria",
  "geography": "City of Victoria",
  "scope": "city",
  "levels": [
    "Market (buyers and sellers)",
    "Municipal (zoning and approvals)",
    "Bank of Canada (interest rates)"
  ],
  "plain_question": "What was the average value of the homes that changed hands in the City over the latest 12 months?",
  "value": 882483,
  "display_value": "$882K",
  "unit": "average declared value, 12 months to September 2026",
  "period": "12 months to September 2026",
  "period_start": "2025-10-01",
  "period_end": "2026-09-28",
  "comparison": {
    "previous_period": "12 months to September 2025",
    "previous_value": 844954,
    "change_percent": 4.4
  },
  "trend": "context",
  "direction_good": "down",
  "right_direction": "Shown for context, without a better or worse label: lower prices help buyers and higher prices help owners.",
  "trend_basis": "$882,483 on average across 1,465 residential transfers in the 12 months October 2025 to September 2026, against $844,954 across 1,748 a year earlier (+4.4%). First-time buyers: 368 transfers (25%), against 444 a year earlier.",
  "since_text": "1,465 residential sales in 12 months (1,748 a year earlier); 368 to first-time buyers (444).",
  "breakdown": [
    {
      "label": "Residential transfers",
      "display_value": "1,465",
      "period": "12 months to September 2026",
      "detail": "1,748 a year earlier."
    },
    {
      "label": "Bought by first-time buyers",
      "display_value": "368",
      "period": "12 months to September 2026",
      "detail": "444 a year earlier. 25% of residential transfers."
    }
  ],
  "breakdown_title": "Sales and first-time buyers",
  "caveats": [
    "Calculated here from the Province’s property transfer tax file: the sum of buyers’ declared fair market values for residential (Class 1) transfers registered at the Land Title Office, divided by the number of those transfers, over 12 months.",
    "It mixes condos, townhouses and houses, so a month with more condo sales lowers the average. It is not a price index and not the real estate board’s benchmark price.",
    "Transfers are counted when they are registered, usually some weeks after a sale. They include sales between related people and other transfers at market value.",
    "First-time buyers are transfers where a buyer claimed the first-time home buyers’ exemption from the tax, as the file records them."
  ],
  "charts": [
    {
      "title": "Average declared value of residential transfers, City of Victoria (each calendar year)",
      "fmt": "money",
      "unit": "",
      "lines": [
        {
          "name": "City of Victoria",
          "area": "city",
          "series": [
            {
              "period": "2020",
              "value": 686840
            },
            {
              "period": "2021",
              "value": 850777
            },
            {
              "period": "2022",
              "value": 1056942
            },
            {
              "period": "2023",
              "value": 853855
            },
            {
              "period": "2024",
              "value": 806809
            },
            {
              "period": "2025",
              "value": 870976
            }
          ]
        }
      ]
    },
    {
      "title": "Residential transfers each month, City of Victoria",
      "fmt": "int",
      "unit": "transfers",
      "lines": [
        {
          "name": "All residential",
          "area": "city",
          "series": [
            {
              "period": "2020-01",
              "value": 126
            },
            {
              "period": "2020-02",
              "value": 89
            },
            {
              "period": "2020-03",
              "value": 143
            },
            {
              "period": "2020-04",
              "value": 129
            },
            {
              "period": "2020-05",
              "value": 91
            },
            {
              "period": "2020-06",
              "value": 122
            },
            {
              "period": "2020-07",
              "value": 314
            },
            {
              "period": "2020-08",
              "value": 175
            },
            {
              "period": "2020-09",
              "value": 195
            },
            {
              "period": "2020-10",
              "value": 219
            },
            {
              "period": "2020-11",
              "value": 273
            },
            {
              "period": "2020-12",
              "value": 242
            },
            {
              "period": "2021-01",
              "value": 189
            },
            {
              "period": "2021-02",
              "value": 191
            },
            {
              "period": "2021-03",
              "value": 261
            },
            {
              "period": "2021-04",
              "value": 267
            },
            {
              "period": "2021-05",
              "value": 399
            },
            {
              "period": "2021-06",
              "value": 363
            },
            {
              "period": "2021-07",
              "value": 246
            },
            {
              "period": "2021-08",
              "value": 330
            },
            {
              "period": "2021-09",
              "value": 274
            },
            {
              "period": "2021-10",
              "value": 186
            },
            {
              "period": "2021-11",
              "value": 264
            },
            {
              "period": "2021-12",
              "value": 162
            },
            {
              "period": "2022-01",
              "value": 150
            },
            {
              "period": "2022-02",
              "value": 148
            },
            {
              "period": "2022-03",
              "value": 185
            },
            {
              "period": "2022-04",
              "value": 206
            },
            {
              "period": "2022-05",
              "value": 222
            },
            {
              "period": "2022-06",
              "value": 225
            },
            {
              "period": "2022-07",
              "value": 173
            },
            {
              "period": "2022-08",
              "value": 153
            },
            {
              "period": "2022-09",
              "value": 135
            },
            {
              "period": "2022-10",
              "value": 97
            },
            {
              "period": "2022-11",
              "value": 139
            },
            {
              "period": "2022-12",
              "value": 107
            },
            {
              "period": "2023-01",
              "value": 75
            },
            {
              "period": "2023-02",
              "value": 79
            },
            {
              "period": "2023-03",
              "value": 126
            },
            {
              "period": "2023-04",
              "value": 167
            },
            {
              "period": "2023-05",
              "value": 167
            },
            {
              "period": "2023-06",
              "value": 198
            },
            {
              "period": "2023-07",
              "value": 189
            },
            {
              "period": "2023-08",
              "value": 216
            },
            {
              "period": "2023-09",
              "value": 306
            },
            {
              "period": "2023-10",
              "value": 277
            },
            {
              "period": "2023-11",
              "value": 96
            },
            {
              "period": "2023-12",
              "value": 160
            },
            {
              "period": "2024-01",
              "value": 140
            },
            {
              "period": "2024-02",
              "value": 95
            },
            {
              "period": "2024-03",
              "value": 115
            },
            {
              "period": "2024-04",
              "value": 146
            },
            {
              "period": "2024-05",
              "value": 221
            },
            {
              "period": "2024-06",
              "value": 240
            },
            {
              "period": "2024-07",
              "value": 171
            },
            {
              "period": "2024-08",
              "value": 210
            },
            {
              "period": "2024-09",
              "value": 196
            },
            {
              "period": "2024-10",
              "value": 169
            },
            {
              "period": "2024-11",
              "value": 141
            },
            {
              "period": "2024-12",
              "value": 119
            },
            {
              "period": "2025-01",
              "value": 137
            },
            {
              "period": "2025-02",
              "value": 112
            },
            {
              "period": "2025-03",
              "value": 113
            },
            {
              "period": "2025-04",
              "value": 140
            },
            {
              "period": "2025-05",
              "value": 147
            },
            {
              "period": "2025-06",
              "value": 166
            },
            {
              "period": "2025-07",
              "value": 192
            },
            {
              "period": "2025-08",
              "value": 181
            },
            {
              "period": "2025-09",
              "value": 131
            },
            {
              "period": "2025-10",
              "value": 150
            },
            {
              "period": "2025-11",
              "value": 108
            },
            {
              "period": "2025-12",
              "value": 115
            },
            {
              "period": "2026-01",
              "value": 101
            },
            {
              "period": "2026-02",
              "value": 75
            },
            {
              "period": "2026-03",
              "value": 80
            },
            {
              "period": "2026-04",
              "value": 113
            },
            {
              "period": "2026-05",
              "value": 126
            },
            {
              "period": "2026-06",
              "value": 149
            },
            {
              "period": "2026-07",
              "value": 173
            },
            {
              "period": "2026-08",
              "value": 146
            },
            {
              "period": "2026-09",
              "value": 129
            }
          ]
        },
        {
          "name": "First-time buyers",
          "area": "city",
          "series": [
            {
              "period": "2020-01",
              "value": 20
            },
            {
              "period": "2020-02",
              "value": 13
            },
            {
              "period": "2020-03",
              "value": 25
            },
            {
              "period": "2020-04",
              "value": 20
            },
            {
              "period": "2020-05",
              "value": 17
            },
            {
              "period": "2020-06",
              "value": 20
            },
            {
              "period": "2020-07",
              "value": 26
            },
            {
              "period": "2020-08",
              "value": 40
            },
            {
              "period": "2020-09",
              "value": 38
            },
            {
              "period": "2020-10",
              "value": 39
            },
            {
              "period": "2020-11",
              "value": 36
            },
            {
              "period": "2020-12",
              "value": 34
            },
            {
              "period": "2021-01",
              "value": 38
            },
            {
              "period": "2021-02",
              "value": 29
            },
            {
              "period": "2021-03",
              "value": 42
            },
            {
              "period": "2021-04",
              "value": 46
            },
            {
              "period": "2021-05",
              "value": 46
            },
            {
              "period": "2021-06",
              "value": 48
            },
            {
              "period": "2021-07",
              "value": 34
            },
            {
              "period": "2021-08",
              "value": 26
            },
            {
              "period": "2021-09",
              "value": 21
            },
            {
              "period": "2021-10",
              "value": 16
            },
            {
              "period": "2021-11",
              "value": 25
            },
            {
              "period": "2021-12",
              "value": 13
            },
            {
              "period": "2022-01",
              "value": 11
            },
            {
              "period": "2022-02",
              "value": 15
            },
            {
              "period": "2022-03",
              "value": 8
            },
            {
              "period": "2022-04",
              "value": 18
            },
            {
              "period": "2022-05",
              "value": 17
            },
            {
              "period": "2022-06",
              "value": 13
            },
            {
              "period": "2022-07",
              "value": 11
            },
            {
              "period": "2022-08",
              "value": 11
            },
            {
              "period": "2022-09",
              "value": 9
            },
            {
              "period": "2022-10",
              "value": 15
            },
            {
              "period": "2022-11",
              "value": 14
            },
            {
              "period": "2022-12",
              "value": 14
            },
            {
              "period": "2023-01",
              "value": 7
            },
            {
              "period": "2023-02",
              "value": 11
            },
            {
              "period": "2023-03",
              "value": 15
            },
            {
              "period": "2023-04",
              "value": 7
            },
            {
              "period": "2023-05",
              "value": 19
            },
            {
              "period": "2023-06",
              "value": 26
            },
            {
              "period": "2023-07",
              "value": 18
            },
            {
              "period": "2023-08",
              "value": 19
            },
            {
              "period": "2023-09",
              "value": 21
            },
            {
              "period": "2023-10",
              "value": 9
            },
            {
              "period": "2023-11",
              "value": 12
            },
            {
              "period": "2023-12",
              "value": 13
            },
            {
              "period": "2024-01",
              "value": 13
            },
            {
              "period": "2024-02",
              "value": 12
            },
            {
              "period": "2024-03",
              "value": 12
            },
            {
              "period": "2024-04",
              "value": 30
            },
            {
              "period": "2024-05",
              "value": 39
            },
            {
              "period": "2024-06",
              "value": 34
            },
            {
              "period": "2024-07",
              "value": 25
            },
            {
              "period": "2024-08",
              "value": 42
            },
            {
              "period": "2024-09",
              "value": 25
            },
            {
              "period": "2024-10",
              "value": 39
            },
            {
              "period": "2024-11",
              "value": 39
            },
            {
              "period": "2024-12",
              "value": 37
            },
            {
              "period": "2025-01",
              "value": 38
            },
            {
              "period": "2025-02",
              "value": 30
            },
            {
              "period": "2025-03",
              "value": 23
            },
            {
              "period": "2025-04",
              "value": 34
            },
            {
              "period": "2025-05",
              "value": 37
            },
            {
              "period": "2025-06",
              "value": 45
            },
            {
              "period": "2025-07",
              "value": 48
            },
            {
              "period": "2025-08",
              "value": 44
            },
            {
              "period": "2025-09",
              "value": 30
            },
            {
              "period": "2025-10",
              "value": 41
            },
            {
              "period": "2025-11",
              "value": 28
            },
            {
              "period": "2025-12",
              "value": 29
            },
            {
              "period": "2026-01",
              "value": 23
            },
            {
              "period": "2026-02",
              "value": 19
            },
            {
              "period": "2026-03",
              "value": 15
            },
            {
              "period": "2026-04",
              "value": 30
            },
            {
              "period": "2026-05",
              "value": 41
            },
            {
              "period": "2026-06",
              "value": 36
            },
            {
              "period": "2026-07",
              "value": 41
            },
            {
              "period": "2026-08",
              "value": 35
            },
            {
              "period": "2026-09",
              "value": 30
            }
          ]
        }
      ]
    }
  ],
  "calc": {
    "formula": "Average value = sum of declared fair market value of residential transfers (sum_FMV_res) ÷ number of residential transfers (n_res_trans), latest 12 months.",
    "steps": [
      "12 months to September 2026: $1,292,837,046 ÷ 1,465 = $882,483.",
      "12 months to September 2025: $1,476,978,731 ÷ 1,748 = $844,954."
    ]
  },
  "series": [
    {
      "period": "2020",
      "value": 686840
    },
    {
      "period": "2021",
      "value": 850777
    },
    {
      "period": "2022",
      "value": 1056942
    },
    {
      "period": "2023",
      "value": 853855
    },
    {
      "period": "2024",
      "value": 806809
    },
    {
      "period": "2025",
      "value": 870976
    }
  ],
  "source": {
    "name": "Province of B.C., Property Transfer Tax Data 2026, Municipal Monthly",
    "url": "https://catalogue.data.gov.bc.ca/dataset/44681fcc-d4c4-4295-b52b-dd70225b3720/resource/051b1620-5c3d-4410-a779-b393081a9078/download/municipal_monthly_2026.csv",
    "dataset_url": "https://catalogue.data.gov.bc.ca/dataset/property-transfer-tax-data-2026",
    "download_url": "https://catalogue.data.gov.bc.ca/dataset/44681fcc-d4c4-4295-b52b-dd70225b3720/resource/051b1620-5c3d-4410-a779-b393081a9078/download/municipal_monthly_2026.csv",
    "locator": "Municipal Monthly 2026 file, Municipality “234 - City of Victoria”, columns n_res_trans, sum_FMV_res and n_fth, October 2025 to September 2026 (and the 2025 file for earlier months)",
    "reads": "September 2026: n_res_trans 129, sum_FMV_res 123,689,203.00, n_fth 30"
  },
  "licence": {
    "name": "Open Government Licence - British Columbia",
    "url": "https://www2.gov.bc.ca/gov/content?id=A519A56BC2BF44E4A008B33FCF527F61"
  },
  "attribution": "Contains information licensed under the Open Government Licence – British Columbia.",
  "refresh_frequency": "Monthly (BC Data Catalogue)",
  "data_published": "2026-11-03",
  "retrieved_at": "2026-11-13T05:30:41Z",
  "files": {
    "2020": "https://catalogue.data.gov.bc.ca/dataset/2ff93989-7b57-49aa-8f12-51aad38fa767/resource/70ee1cf6-fb59-40b0-a747-46389d4cc612/download/municipal_monthly_2020.csv",
    "2021": "https://catalogue.data.gov.bc.ca/dataset/53ae2399-299b-43db-a9c1-2fd76693ecda/resource/e4cade80-5e8e-4291-b9f9-f3b9dbd660a9/download/municipal_monthly_2021.csv",
    "2022": "https://catalogue.data.gov.bc.ca/dataset/0dfa98dd-a89a-4244-bc9f-1875d105a613/resource/3a4e69e8-672e-432c-82cf-d693ad844ff0/download/municipal_monthly_2022.csv",
    "2023": "https://catalogue.data.gov.bc.ca/dataset/c0aa52e1-ee9c-467e-b20b-89207bcbcf07/resource/d2299791-56df-4b99-b661-af2e92cd894f/download/municipal_monthly_2023.csv",
    "2024": "https://catalogue.data.gov.bc.ca/dataset/20f91eb2-b381-4dc1-b142-a4c0ed5ec6c7/resource/5bd78fc4-5506-499a-9881-989eec48abbe/download/municipal_monthly_2024.csv",
    "2025": "https://catalogue.data.gov.bc.ca/dataset/d17afae5-9b6f-4bff-89bc-c10f4d43bf05/resource/439c60f4-ae99-42e2-aea4-b813640efea1/download/municipal_monthly_2025.csv",
    "2026": "https://catalogue.data.gov.bc.ca/dataset/44681fcc-d4c4-4295-b52b-dd70225b3720/resource/051b1620-5c3d-4410-a779-b393081a9078/download/municipal_monthly_2026.csv"
  },
  "licence_type": "open",
  "source_tier": 1,
  "measure_kind": "context",
  "better_measure": null,
  "status_rule": {
    "rule": "One rule for every measure: a change smaller than 5% of the earlier value, or smaller than the agency's own margin of error, is “About the same”; no change is calculated across a marked break in a series; homelessness estimates, prices, staffing and comparison pages are shown for context without a label.",
    "reason": "Lower prices help buyers and higher prices help owners, so whether a change is better or worse is a value judgement.",
    "threshold_percent": 5.0
  },
  "changes": {
    "year": {
      "period": "12 months to September 2025",
      "value": 844954,
      "text": "vs Sep 2025: +4.4%"
    },
    "five_year": null
  },
  "direction": {
    "type": "context",
    "rule": "Outcome measures read Better, Worse or About the same; published government targets read Ahead of, On or Behind target; value-judgement measures read Rising, Falling or Steady in a neutral colour. A change smaller than the agency's own margin of error, or otherwise smaller than 5% of the earlier value, is About the same (or Steady). No change is calculated across a marked break in a series.",
    "key": "steady",
    "label": "Steady",
    "arrow": "▲",
    "rel": 4.4,
    "delta": null,
    "vs": "12 months to September 2025",
    "cur": "12 months to September 2026",
    "why": "Lower prices help buyers and higher prices help owners, so whether a change is better or worse is a value judgement. The change is 4.4% of the earlier value, below the 5% threshold.",
    "change": "4.4%",
    "one_year": "+4.4%",
    "long_why": "The headline is a total the agency’s file does not give for earlier periods, so there is no longer reading."
  },
  "benchmark": {
    "rung": 4,
    "rung_name": "Context measure: no target expected",
    "as_of": "2026-11-12",
    "items": [
      {
        "kind": "context",
        "label": "Context measure: no target expected",
        "area": null,
        "source": null,
        "documents_checked": null,
        "text": "Context measure: no target expected. A market price that no government here sets."
      }
    ],
    "drawn": [],
    "rule": "Highest rung found is shown; the site never sets a target. Methods, Targets."
  },
  "no_target_expected": "A market price that no government here sets.",
  "benchmarks": [],
  "highest_rung": null,
  "decided_by": [
    {
      "body": "NONE",
      "name": "No government decides this directly",
      "note": "Buyers and sellers set prices."
    },
    {
      "body": "COV",
      "name": "City of Victoria Council",
      "decides": "Decides zoning and development permits, and regulates building by bylaw.",
      "laws": [
        {
          "key": "lga479",
          "label": "Local Government Act, s. 479",
          "url": "https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/r15001_14#section479"
        },
        {
          "key": "lga490",
          "label": "Local Government Act, s. 490",
          "url": "https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/r15001_14#section490"
        },
        {
          "key": "cc8l",
          "label": "Community Charter, s. 8 (3) (l)",
          "url": "https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/03026_02#section8"
        }
      ],
      "last": null,
      "next": null
    },
    {
      "body": "BOC",
      "name": "Bank of Canada",
      "decides": "Sets and publishes the minimum rate at which it lends, as part of its job to regulate credit and currency.",
      "laws": [
        {
          "key": "boc21",
          "label": "Bank of Canada Act, s. 21",
          "url": "https://laws-lois.justice.gc.ca/eng/acts/B-2/FullText.html"
        },
        {
          "key": "boc",
          "label": "Bank of Canada Act, preamble",
          "url": "https://laws-lois.justice.gc.ca/eng/acts/B-2/FullText.html"
        }
      ],
      "last": {
        "text": "Rate set at 2.50% on October 28, 2026",
        "label": "Rate set at 2.50% on October 28, 2026",
        "url": "https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/"
      },
      "next": {
        "text": "Next scheduled announcement December 9, 2026",
        "label": "Next scheduled announcement December 9, 2026",
        "url": "https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/"
      }
    }
  ],
  "main_decision_maker": "No government decides this directly",
  "label_1y": {
    "key": "steady",
    "label": "Steady"
  },
  "label_long": null,
  "target_line": {
    "form": 7,
    "text": "No target expected",
    "target": null,
    "gap": null,
    "comparison": null,
    "applies_here": false,
    "note": "A market price that no government here sets."
  }
}