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
- Median of (sold price ÷ finished square feet) across the sold listings in the pooled window, outlier-guarded above $2,000/sq ft. The single-month (1M) view reads the monthly series, which is an average rather than a median — the two differ by a few percent.
- 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; “all residential” covers houses, townhomes and condos together — Land and Manufactured Home are excluded.
Figures are directional benchmarks, not appraisals. Repliers’ searchable sale history currently spans roughly two years, so the longest trend view shows 24 months.