Wednesday, May 13, 2015
The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for April 2015. A total of 840 properties sold in the Victoria region this April, a 26.5% increase compared to the 664 properties sold in the same month last year.
"We've seen modest sales increases in the area for the past two years, which we've attributed to a growing consumer confidence in the market," Victoria Real Estate Board President Guy Crozier says. "The past three months have been exceptional, and I think have surprised most people watching the market; I certainly haven't seen forecasts even close to the numbers we see today. It's possible that consumers who were hesitant to make a move or purchase their first house during the recent economic downturn may have waited to see conditions like we see now - the favourable interest rates, good selection of prices and properties, and increased confidence in the local economy."
There were 3,945 active listings for sale on the Multiple Listing Service® at the end of April, 10.4% fewer than the 4,404 active listings in April 2014.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $562,000. The benchmark value for the same home this month has increased by 3.5% to $581,700.
"The last time we saw this many transactions in an April was in 2007 when we saw 898 sales," President Crozier adds. "The market is good, but prices aren't crazy - despite the activity levels, values in our local market are still recovering from the peaks we saw in 2008 and 2010. Depending on the area, single family property values are as much as nine percent below the 2010 values. It is a great time to buy or sell property in our area."
Posted by Lorne Tuplin at 3:59 PM
Monday, April 13, 2015
SOLD 2 Story For Sale in the Glen Lake Area SOLD
2763 Ronald Road
Home with suite
• 2,316 sq. ft., 3 bath, 4 bdrm 2 story strata duplex - $439,900 - Priced for Quick SaleGlen Lake, Langford - Great family home with many recent high quality renovations. Superb kitchen with soft close doors & drawers, granite counter tops, heavy gauge stainless under hung sinks, top of the line Kitchen Aid appliances, new lighting & heated ceramic floor. Spacious living room with garden doors to huge deck with new glass & cedar rails & torch on vinyl surface. Master has en suite bath & walk-in closet and the other two bedrooms are a good size. Down you will find a den, shared laundry & large one bedroom suite. Newer furnace, water heater, roof. Electrical recently upgraded to 200 amp. Insulated garage door with opener.
Newer kitchen with granite tops
Living Room with fireplace & French doors to deck
Dining room off Kitchen
Huge deck off Living Room
Spacious Master Bedroom with walk-in closet & en suite bath
Call Lorne to view at 250-217-4600. RE/MAX Camosun
Posted by Lorne Tuplin at 9:53 AM
Wednesday, April 01, 2015
Another Busy Month for the Victoria Real Estate Market
"We saw 393 single family homes in the region sell in the month of March. The last time we saw numbers this high in March was in 2010 when 414 single family homes sold," Victoria Real Estate Board President Guy Crozier says. "And though we see sales numbers have increased compared to last year, we see fewer active listings for sale compared to last year."
There were 3,769 active listings for sale on the Multiple Listing Service® at the end of March, 6.9% fewer than the 4,050 active listings in March 2014.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $560,500. The benchmark value for the same home this month has increased by 1.64% to $569,700.
"Why the increase in activity? We expect the market to be busy in the spring - real estate has a seasonal trend. Interesting this year was that the momentum we saw in the market over the course of 2014 has continued to increase," President Crozier adds. "Consumer confidence in local real estate appears to be high, and it's likely that buyers are taking advantage of low interest rates."
Posted by Lorne Tuplin at 12:00 PM