The Neal Estate Team's Victoria Real Estate Update for November 2019
by Ron Neal
on Thursday, November 7th, 2019 at 7:18pm.
There were a total of 619 properties sold in the Greater Victoria Region of the Victoria Real Estate Board, up 3.5% from 598 sold October of last year and 0.5% up from the previous month. Condo sales dropped slightly for the month, down 1.1% compared to last year with 178 sold while there were 10% more single family homes sold with 318 sold.
The overall number of active listings available for sale dropped 6% from the end of September to 2,643 at the end of October 2019, but still 5% higher than the 2,510 for sale at the end of October last year.
The market seems to be generally stable with the benchmark prices for both condos and single family homes showing very little change from the previous month while single family homes in Victoria's core are down 2.5% from a year ago and condos in teh core are up 1.7% from the same time last year.
While generally stable, we are seeing significant variations in activity depending on area, property type and price range with the lower end continuing to be generally undersupplied with competing offers in many instances and the reverse true in the upper end.
Having said that, our team had a very busy October with double the sales compared to last year in October and we had 5 sales in the 1-3 Million range for the month. Correctly presented properties are continuing to sell well. There are abundant opportunities depending on your area, property type, and price range, especially for move-up buyers. Please contact us for a free consultation with a Neal Estate Team Area Specialist.
P.S. Ask us about our new home seller programs for INSTANT OFFER or Your Home Sold in 30 Days...Or We Sell it *FREE! Click HERE for Free Market Value Estimate!
The Neal Estate Team is your #1 source for all of your Victoria BC real estate needs. Get in touch with us online or by phone at (250) 386-8181 to speak with a Victoria real estate buying or selling expert today. With decades of experience as a top selling Victoria REALTOR® and ranked in top 1% globally with over 4,000 transactions and $1 Billion SOLD, Ron Neal & The Neal Estate Team have the industry experience and market knowledge to help you make smart and informed buying or selling decisions.