New Listing

1025 Gala Court $659,900
Sold $671,000

Entry 

 Kitchen

Dining Room 

Living Room 

Master Bedroom 

En Suite Bath 

Family Room 

 Yard

 The CEDAR floor plan is the largest home at Katies Pond with over 1,900 sq.ft, 3 bedrooms, 3 baths & large family room. Main floor features a spacious kitchen, dining & living room with laminate floors, 9ft ceilings& gas fireplace. Upstairs includes 3 good sized bedrooms, laundry room, large main bath, master suite with walk in closet & en suite plus the BONUS family room above the garage. Features include gas fireplace in the living room, gas BBQ outlet on the patio gas on demand hot water, 9ft ceilings on main, quartz counters in the kitchen, & large patio. Full appliances, blinds & landscaped yard with irrigation. Move quickly or miss out! Offers not delayed.

Victoria Real Estate Market Changes Tempo for Autumn

A total of 640 properties sold in the Victoria Real Estate Board region this September, 18.1 per cent fewer than the 781 properties sold in September last year.

“We can certainly feel the difference in the current market when we compare to last year’s record breaking numbers. Last year the pace of the market was intense, there was a lot of pressure on pricing and demand,” notes Victoria Real Estate Board President Ara Balabanian. “Now the tempo of the market is trending slowly – very slowly – towards more balanced conditions. Recently we’ve seen overall price increases level out, which can indicate slightly less demand, and inventory is building.”

There were 1,976 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September 2017, an increase of 3.1 per cent compared to the month of August and 4.1 per cent fewer than the 2,061 active listings for sale at the end of September 2016.

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in September 2016 was $742,200. The benchmark value for the same home in September 2017 has increased by 10.9 per cent to $823,100.

“Simply because we’ve seen sales drop from last year is not dire or unexpected news for our local real estate market.” adds President Balabanian. “The ten year average for sales in September is 573 properties and the month exceeded that average by more than ten per cent, which indicates we’re still in an active market. And of course there are neighbourhoods that are still tracking up in terms of value from last year. It’s for reasons like these that now more than ever it makes sense to seek the assistance of a local REALTOR® to sell or buy your home.”

The graphic below shows market price activity in Greater Victoria the past year

If you are considering buying or selling anywhere on the South Island,
call Lorne Tuplin today 250-217-4600