March 2015

A recent example of an "underpriced house" that set a new price record

House at 65 E 26th Avenue was originally listed at $1.6M, sold for just under $2.2M.

CBC News Posted: Mar 27, 2015 11:53 AM PT Last Updated: Mar 30, 2015 6:08 AM PT

A Vancouver real estate agent who has just sold a home for $567,000 over its published listing price says that underlisting is an accepted selling strategy in the real estate market.

"If the product's right, the timing's right and the inventory is right, it's the right strategy," Paul Eviston told CBC News.

Nevertheless, Eviston said, he would hesitate from using the term "underlisted" in the case of the home at 65 E 26th Ave., originally listed at $1.6 million, which sold for $2,167,000.

"I wouldn't

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Ron’s Market Report Video Sales continued to gain momentum with a 30% jump in February over January with 542 homes sold. New listings continue to trickle in at a slower pace with the increase in sales bringing the net number of listings for sale at the end of February in Greater Victoria up to just 3,480 which is still lower than this time last year. The important ratio of sales to listings for our overall market in February was just 6.4 or a 6 ½ month supply. We are presently in a balanced market overall with some areas, property types and price ranges leaning more towards a seller’s market for the first time in several years! As predicted last month, the net effect for us of reduced oil prices, interest rates and our Canadian dollar us here in Victoria