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Victoria – Spring Market Update

Posted by on Tuesday, April 9th, 2013 in Victoria Real Estate News

The Victoria real estate market is definitely in for another soft year, as the first quarter experienced a continued slow down in sales, and some similar price drops. The listing inventory is still high, and the number of sales are still about 30% off the busy market cycle peaks from 2002-2008. This supply demand ratio will ultimately lead to a continued softening in prices for most sectors of the market. The supply balance is still leaning in favour of the buyers, and there are no signs of this changing for the remainder of this year. There appears to be a built up demand of buyers, and eventually when they start buying, we will see a much more dynamic market, but this will most likely not occur for sometime. Most pundits are predicting it might take another 1-2 years. We will see…

In the meantime, here a few few links to various real estate sources that may be of interest to you:

– I have just released my latest quarterly newsletter. Click for details:  Newsletter

– For the latest historical statistics from the Victoria Real Estate Board, click here: VREBStatistics

– I have a Facebook page which discusses real estate news and listings in the Victoria area. To stay informed, click on this link and hit “like”: VictoriaBCProperties

– Search for listing at my Victoria BC Properties website: DaleSheppard.com

All the best during this spring season!

Dale.

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