It’s an exciting time to be in real estate in Victoria. It can also be stressful, especially for home buyers who are competing for a very short supply of listings. Our team has developed and engaged new strategies to assist both buyers and sellers giving them maximum advantages in these unprecedented market conditions.
With 1,289 sales in the month of May, 42% more than May 2015 and an inventory of active listings at the end of the month at only 2,406, down 40% from May 2015, the supply has dropped to just a 1.9 month supply. Furthermore, many of those listed as available are already under contract but not yet reported sold waiting for condition removals.
The spring is normally our busiest time of the year for new listings and sales. This year is
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