Happy Valley townhome market — prices, sold data & trends

Is Happy Valley a buyer's or seller's market?

As of the latest data, Happy Valley is a seller's market. There are about 2.4 months of inventory — under 4 months typically favours sellers. Around 12.0% of townhomes sold above asking, and the typical sale closed at 98.6% of list price.

How much does a townhome cost in Happy Valley?

The median sold price for a townhome in the Happy Valley neighbourhood is $723K, up 1.2% from a year ago. The average sold price is $717K. That works out to roughly $455 per square foot.

Are townhomes in Happy Valley selling over asking?

12.0% of townhomes that sold in the Happy Valley neighbourhood closed above their list price. The typical home sold at 98.6% of asking — just under list. Among the homes that sold over asking, the median premium was +$26.1k over asking.

How long do townhomes take to sell in Happy Valley?

Half of the townhomes that sold in the Happy Valley neighbourhood went under contract within about 33 days — the median days on market. A longer time on market gives buyers more negotiating room.

Are home prices going up or down in Happy Valley?

Median sold prices in the Happy Valley neighbourhood are up 1.2% year over year, at $723K. Currently 12.4% of active listings have cut their asking price at least once, a sign of steady pricing pressure.

Is now a good time to buy or sell in Happy Valley?

It depends which side you are on. With about 2.4 months of inventory, the Happy Valley neighbourhood favours sellers. Sellers have leverage, with townhomes moving in around 33 days and 12.0% selling over asking — buyers should be ready to act quickly and expect competition.

What is the best time of year to sell a home in Happy Valley?

Across the past two years, sales activity in the Happy Valley neighbourhood has been strongest in June and quietest in December. In Greater Victoria the spring market — roughly March through June — is typically the busiest selling season, when buyer demand and prices tend to peak, with activity easing over the winter.

How many townhomes are for sale in Happy Valley?

As of the latest data there are 11 active townhome listings in the Happy Valley neighbourhood. Over the period, 84 new listings came to market and 48 sold, which is about 2.4 months of inventory at the current sales pace.

Do townhomes in Happy Valley sell for more than their assessed value?

The typical home in the Happy Valley neighbourhood sold at 100.4% of its BC-assessed value — right around its assessed value. Assessments are set once a year and lag the market, so a ratio above 100% is common when prices are rising.

Directional market benchmarks from Repliers MLS, BC Assessment & VREB — not an appraisal or personalized advice.