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Victoria Real Estate Market Update – Summer 2014

Posted by on Friday, August 8th, 2014 in Victoria Real Estate News

The Victoria real estate market has been very active this summer, and the number of sales have increased significantly compared to 2013. This is great news. Prices are still flat, but that works out well for buyers and sellers that are re-purchasing. Interest rates are remaining at record lows, and all signs are leading to a strong fall and winter market as well. After 6 slow years, this is the best news I have experienced since the collapse of the global markets in the late summer of 2008.

Having said that, the homes that are on the market currently must still be priced correctly to attract offers, as there are about 4700 listings for sale at this time, and about 650 sales per month, which leaves only 1 in 7 homes selling per month. This is a far cry from the peak in 2006 and 2007, when about 1 in 3 homes were selling per month. I think we are a few years away from that type of a market returning.

In the meantime, this blog is going to be short, as I am ready to take a break from this busy work summer right now so I can enjoy this great weather we are experiencing in Victoria, so it is time to sign off until next time.

Here are a few links to various real estate sources that may be of interest to you:

  1. Click on this link and hit “Like” to obtain current postings from my real estate Facebook page: VictoriaBCProperties

  2. Click this link for details of my Summer Newsletter:  Newsletter

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

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

All the best over the rest of the summer!

Dale.

 

 

 

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