The Victoria Real Estate Board today released its report on real estate activity for September 2015. A total of 704 properties sold in the Victoria Real Estate Board region this September, an increase of 24.6% compared to the 565 properties sold in the same month last year.
There were 3,478 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September, 18.2% fewer than the 4,253 active listings in September 2014.
"We certainly have less inventory in the market than we saw at this time last year," Victoria Real Estate Board President Guy Crozier says. "Though higher sales have contributed to a reduction in the available inventory, with almost 1,000 new listings entering the market in September, there is still a continual supply of new inventory for those folks who hope to make a move."
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core last year in September was $558,600. The benchmark value for the same home in September 2015 has increased by 8.7% to $607,100.
"While September often signals the re-start of the market after the traditional summer slowdown in sales activity, our market remained strong right through the summer and September," notes President Crozier. "This September is different than past years. Our busiest month last year was in May, and 714 properties sold. That's only 10 more transactions than we saw in September this year. The question now is - will we see the normal winter lull in sales and listings or will the market continue at this pace?"
For detailed information on the Victoria and area housing market, call Lorne Tuplin today 250-217-4600!
Thinking about moving to Victoria?
As baby boomers continue to retire in ever increasing numbers, prices will fluctuate month to month but Victoria is somewhat price protected. There is no denying the incredibly strong pull to this Island Paradise! Call me toll free at 1-877-478-9600 to have Victoria area listings e-mailed to you daily.
I offer you leading edge technologies for your upcoming real estate transaction, while at the same time provide you with First Class Service!
Serving Greater Victoria and area. Call Lorne Tuplin for Langford Real Estate,
Colwood Real Estate, Metchosin Real Estate, Sidney Real Estate,
North Saanich Real Estate, Central Saanich Real Estate,
Saanich East Real Estate, Saanich West Real Estate,
View Royal Real Estate, Oak Bay Real Estate
Esquimalt Real Estate and Sooke Real Estate.
Call Lorne Tuplin to buy or sell Victoria Homes,
Victoria Real Estate, Victoria Condos,
Victoria Area Acreages, and Victoria Area Waterfront & Water view homes
RE/MAX Camosun, Victoria, British Columbia