While prices have been falling off from historic highs in Victoria, buyers are now getting back into the market, especially in the lower end price range.
In the greater Victoria area the average price for a single-family home in March 2009 was $534,689, down 10.46% from March of 2008, and the average price of a condo in March was $295,624, down 10% from March 2008.
The main activity in the current market is in the $350K to $500K range. So, in spite of the current economic uncertainty, I am feeling very optimistic for the remainder of this year.
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