Tuesday, October 07, 2014
The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for September 2014.
565 properties sold in the region this September - an increase of 16% compared to the 487 properties sold in the same month last year. The quarter ending in September shows a 15% increase in the number of sales overall compared to the same quarter in 2013.
"Once again we see more houses sold this month than last September," Victoria Real Estate Board President Tim Ayres says. "We haven't seen sales like this in September since 2009. The balanced market conditions we've seen over the last seven months mean property prices are stable, so it might be more comfortable for buyers and sellers to make a move because they know that property values are predictable."
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $550,900. This month the benchmark value increased to $556,200.
"There are some districts in the Victoria area that have seen an increase in their benchmark values, and others that are relatively flat compared to last year," adds President Ayres. "Since there is this difference within the local market, it's important to connect with your local REALTOR® to get an understanding of the market as it relates to your specific neighbourhood."
Posted by Lorne Tuplin at 11:57 AM
Thursday, September 04, 2014
Thursday, August 07, 2014
Surprising Summer Sales for Victoria and Area Real Estate
August 1, 2014, The Victoria Real Estate Board today released its monthly report on real estate activity in the Victoria area for July 2014.
681 properties sold in the region in the month of July 2014, compared to 583 last year in July - an increase of nearly 17%. June 2014 saw 680 sales.
When compared with year-to-date sales in 2013, 2014 shows a 10% increase.
"I think the activity in July has surprised a few people," Victoria Real Estate Board President Tim Ayres says. "Traditionally the summer market is slower than the spring, but numbers are tracking closely to March and April sales this year. Last year sales in July were 12% lower than in June - and June was the peak of the market in 2013. This year we see slightly more sales in July than in June. This is the first year since 2003 that July numbers have beaten June."
The MLS® Home Price Index (HPI) benchmark value for a single family home in the Victoria Core area in July was $562,000 - 2% higher than last year’s average value for the same home - $550,900.
Posted by Lorne Tuplin at 1:37 PM
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Posted by Lorne Tuplin at 10:38 AM