Connect

Find us on...

Share on...

Dashboard

Login using...

New Search X

Market Update

Found 5 blog entries about Market Update.

The downward trend for real estate sales in Greater Victoria continued with a total of just 533 sold in September 2018, 16% fewer than the 640 sold last September 2017 and 10% fewer sales than last month, August 2018. This is contrary to the typical seasonal increase in sales after summer. 

  At the same time the upward trend with our supply of listings available for sale continued with 2,646 for sale at the end of September 2018, 5% than the month before and 34% more than the 1,976 available at the end of September 2017.   This apparent balanced level of supply and demand means we now have a 5 month overall supply of listings available for sale. Of course as reported in previous…
391 Views, 0 Comments

Sept stat photo - VREBThe trend to a balanced market continued through August with a further decline in sales to just 594 properties sold in the Victoria Real Estate Board in August, a decrease of 8.8% from the 651 sold in July and 19.3% fewer than the 736 sold in August of 2017.

 

The overall supply of active listings increased to 2,519 at the end of August, 31.4% higher than the 1,917 available at the same time last year.

 

There are significant differences among various price ranges, property types and neighbourhoods with continued limited selection below $750,000, 30% fewer available than this time last year and increasing availability above $1,500,000 where selection has more than doubled.

 

The VREB Home Price Index indicates that benchmark values of

556 Views, 0 Comments

August statsWhile the summer weather has heated up the real estate market is generally cooling off.  In July the trend of increasing listings available for sale and fewer sales continued with just 651 properties sold a decline of 17.6% from the 790 sold in July 2017. The number of listings available for sale was up to 2,607 at the end of July from 1,921 at the end of July last year.

 

Overall the proportion of listings available for sale relative to the number selling represents a balanced market with four month supply. Looking a little closer at specific property types, neighbourhoods and price ranges quickly reveals that there are significant differences in various parts of the market. For example under $750,000 in Victoria's core there are currently only 347

607 Views, 0 Comments

The imbalance of supply and demand has shifted some in favour of buyers, but continues to be undersupplied in lower priced housing. The result being that more affordable housing is continuing to experience rising prices.

There were 755 properties sold on Victoria Real Estate Board this May, down 25% from the 1,006 sold in May last year and also 2.5% fewer than April 2018. Of those sold 237 were condos and 406 were single family homes.

At the same time, the number of listings has increased substantially to 2,394 at the end of May 2018, up 19.6% from 2,002 the previous month and up 26.3% from 1,896 last year at this time.

The shift in the balance of supply vs demand we’re seeing is not surprising given the many impactful changes including to

631 Views, 0 Comments

As expected, government influences are impacting our Victoria and BC wide real estate market. The combination of new federal tax strategies, mortgage stress test, increased interest rates, expanded and increased foreign buyer tax and impending speculation tax is starting the push the market balance towards favouring buyers. There is widely varied market activity by price range and area with the lower end in our Victoria market still in very short supply.

Sales of all property types declined in March by 25% from the previous year with just 688 sold down from 929 in march of 2017. Condominium sales were down by 28% with just 211 sold and single family homes were down by 30% with just 337 sold this March.

The Victoria Real Estate Board reported an

712 Views, 0 Comments