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August 2015

Found 1 blog entry for August 2015.

Although seasonally down as expected from June’s record setting pace, our market has not slowed at all really. In July 2015 the VREB reported 796 sales vs 681 in July 2014, that’s a 17% increase. The supply of listings has also remained low overall with just 3,942 equal to just shy of a 5 month overall supply which is an “undersupply” giving us a “Seller’s Market” with continuing upward pressure on prices.

The Luxury Home market in Victoria is hot with a significant increase in sales from a year ago. There were 38 sales in the region in July over $1 Million compared to 26 in the same month last year, a 46% increase. From my observations, this is primarily resulting from an outflow of Vancouverites. They see great value in our market after theirs

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