March 2014 Real Estate Activity
in Victoria
The Victoria Real Estate Board today released its monthly report on real estate activity in the
575 properties sold in
the month of March 2014, compared to 483 in March 2013 - an increase of nearly
20% year over year. However, the average sales for the month of March over the
past five years is 607 properties per month, so though 2014 is stronger than
the year previous, sales have not yet returned to the longer term average.
Victoria Real Estate
Board President Tim Ayres says, "This time last year sales weren't
outstanding - the market was sluggish. Tightened mortgage amortization rules
resulted in slower sales as buyers adjusted to the new requirements. Property
values were stable, but inventory didn't move quickly. This year we see more
sales than last March."
