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November 2015

Found 2 blog entries for November 2015.

The Victoria Real Estate Market showed no signs of slowing through October with 734 properties sold for the month, the 29th consecutive month with more sales than the same month of the prior year. There were 602 sold in October 2014, that’s a 22% increase. The supply of properties for sale also continued to shrink, now down to only 3,170 listings at the end of October, a decrease of 19% from 3,927 at the same time last year.

The balance of listings and sales equates now to just over a 4 month overall supply (4.3 months) confirming that we are still in a strong seller's market with upward pressure on prices. With many buyers  competing for fewer listings, we are seeing prices forced upwards in the competition. The impact is far more apparent in the

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Similar in some ways to how a person with mental health issues may feel the social stigma commonly associated with mental illness, homes and properties can also become stigmatized. In the real estate world these locations are usually known as “stigmatized property” or “psychologically impacted property.” A property with this kind of local or media interest may be difficult to sell. Homes that might become stigmatized include those where a murder or suicide occurred, the home of a pedophile, the location of a drug operation or a drive-by shooting, or the address of a brothel. The knowledge that something like this occurred in your home, even if it was at another time, can be very unsettling for potential buyers and result in difficulty selling the

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