HOT REAL ESTATE MARKET THIS SUMMER IN VICTORIA

By
Real Estate Sales Representative with RE/MAX Camosun Victoria BC Real Estate BC Licence #001159

Victoria Real Estate Market Remains Hot Into the Summer Months

Aug 1, 2017 - "The activity level in the Victoria real estate market continues to be brisk, though we always expect a slowdown in the summer months," says 2017 Victoria Real Estate Board President Ara Balabanian. "This July, we saw a strong focus on the lower priced end of the market, with condos and townhomes and single family homes listed for under $700,000 in high demand. Many of those properties saw multiple offer situations."

 

FIND HUNDRES OF HOMES IN VICTORIA BC


A total of 790 properties sold in the Victoria Real Estate Board region this July, 18.7 per cent fewer than the 972 properties sold in July last year. 
Hot Real Estate Market This Summer in Victoria
"The ten year average for sales in July is just over 700 properties," adds President Balabanian. "So the numbers from last month illustrate an ongoing demand for homes in Victoria. We anticipated at the beginning of the year that we would see another busy market - without the record breaking numbers we saw in 2016 - and we are seeing exactly that. The surprise has been the low inventory levels, with listings for sale consistently below 2,000. The good news is that compared to the start of the year we have 26.7 per cent more listings on the market, but that supply is still lower than we expected, which puts pressure on pricing and availability."

There were 1,921 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of July 2017, an increase of 0.3 per cent compared to the month of June, but 11.1 per cent fewer than the 2,161 active listings for sale at the end of July 2016. 

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in July 2016 was $737,800. The benchmark value for the same home in July 2017 has increased by 13.1 per cent to $834,200. 

About the Victoria Real Estate Board - Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards and innovative programs to enhance the professionalism of REALTORS®. The Victoria Real Estate Board represents 1,368 local Realtors. If you are thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing market.

View our press release and summary here.
View our complete statistical package here.

 

Now Maybe the Time To Sell, Call me at 250-413-7042 and lets meet for a coffee and to find out the current real estate market in your neighbourhood.

PS: Who do you know that would like to sell their home?

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HAVE YOUR BEST YEAR EVER IN 2015 !

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Fred Carver

Personal Real Estate Corporation

RE/MAX Camosun
Accredited Consultant in Real Estate®

“Recognized by ActiveRain as a 2013-2014 Top Contributor for Real Estate Blogging.”

Direct 250-598-2963   

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Post Copyright © 2016 By Fred Carver Real Estate Corporation All Rights Reserved

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Rainmaker
1,543,440
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

thanks for the market update - this is very useful information for anyone moving to your area! 

Aug 03, 2017 03:11 AM #1
Rainmaker
1,038,351
Fred Carver Personal Real Estate Corporation
RE/MAX Camosun Victoria BC Real Estate - Victoria, BC
Accredited Real Estate Consultant

Thanks Lise Howe 

Have a fun and successful Summer

Aug 03, 2017 09:40 PM #2
Rainmaker
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Denise Copeland
Mirsky Realty Group - Palm Beach Gardens, FL
Jupiter Abacoa Sales & Beach Front Luxury Homes

Thanks for posting! I love looking at the layouts and different takes on other market places. Good information.

Aug 04, 2017 12:12 PM #3
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Rainmaker
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Fred Carver Personal Real Estate Corporation

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