methodology
How 8X measures the Greater Victoria market
Updated · Greater Victoria CRD
The resolution contract
Every panel declares its minimum geographic resolution. When your scope is finer than a panel supports, the panel stays present at its own native resolution with a “Shown at:” tag. The scope chip stays accurate to your intent; the panel stays accurate to data reality.
Data sources
| Source | Covers | Resolution | Cadence |
|---|---|---|---|
| Repliers MLS | sales · median/average price · price-per-sqft · days-on-market · sale-to-list · over-asking · price reductions | neighbourhood | daily |
| VREB monthly statistics | active listings · new listings · sales counts | municipality | monthly |
| BC Assessment | sale-to-assessed ratio | property | annual |
| Bank of Canada · Valet API | 5-yr posted mortgage · 5-yr GoC bond yield | Canada | weekly / daily |
| Statistics Canada | CPI (18-10-0004) · labour force (14-10-0459) · population (17-10-0148) · non-permanent residents (17-10-0014) | BC / Victoria CMA | monthly / annual |
Metric definitions
- Active listings
- Listings on market at the measurement date (point-in-time stock).
- Sales · period
- Closed sales in the period, counted on firm/sold date.
- New listings
- Listings newly brought to market in the period.
- Days on market
- Median days from list date to firm sale.
- Sale-to-list ratio
- Median of (sold price ÷ most-recent list price), as a percentage.
- Over-asking rate
- Share of closed sales that sold strictly above the current list price (count of sold-over-list ÷ total sales, per month). The “median over asking” descriptor reports the median dollars over list among those sales, so a high rate driven by trivially-underpriced listings isn’t mistaken for competitive bidding.
- Sale-to-assessed
- Median of (sold price ÷ BC Assessment assessed value), as a percentage.
- Months of inventory
- Active listings ÷ trailing-3-month average monthly sales. Under 4 months reads as a seller’s market, 4–7 balanced, over 7 a buyer’s market.
- Median price
- Median closed sale price in the period.
- Average price
- Mean closed sale price in the period.
- Price per sq ft
- Average sold price per finished square foot (outlier-guarded above $2,000/sq ft).
- Price reductions
- Share of active listings currently priced at least 1% below their original list price (point-in-time stock). This captures listings currently below original — not every listing that has ever taken a reduction.
How sales are counted
Sales are counted on firm (sold) date and include pending firm-dated sales (Repliers status A+U, no lastStatus filter), matching VREB’s published method. Greater Victoria CRD only; Land and Manufactured Home excluded from “all freehold”.
Figures are directional benchmarks, not appraisals. Repliers’ searchable sale history currently spans roughly two years, so the longest trend view shows 24 months.