Another Hot Summer Month of Sales for Victoria Real Estate Market

The Victoria Real Estate Board today released its report on Multiple Listing Service® real estate activity in the Victoria area for July 2015. A total of 796 properties sold in the Victoria Real Estate Board region this July, compared to the 681 properties sold in the same month last year.

Sales dropped a little from the spring as we would expect, but are still up a very healthy 16.9% over last year."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $564,300. The benchmark value for the same home this month has increased by 6.3% to $599,800.

There were 3,942 active listings for sale on the Multiple Listing Service® at the end of July, 13.7% fewer than the 4,570 active listings in July 2014.

Consumer confidence remains very strong and shows no sign of falling off in the coming months. Interest rates continue to be very favourable.