Historical Average Prices of Single Family Dwellings, Condominiums and Townhouses in Greater Victoria from 1967 to present. As one can see, there was a hiccup after 1981 which took 7 years to recover; there was a hiccup in 1994, which took 7 years to recover; and there was a hiccup in 2008, which appears to have taken only 1 year to recover.
In the long run, a buyer has always done well financially in the Greater Victoria real estate market, particularly in the past ten years.
Randi Masters, past President of the Victoria Real Estate Board today said, "Last year (2010) was marked by a return to a balanced real estate market in the Greater Victoria area."
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