With lower inventory levels, Sellers are cashing in on the Victoria Real Estate Market
November 2015-Darren Day reports that there were a total of 573 properties sold in the Victoria Real Estate Board MLS this November, an increase of just over 23% compared to the same month last year.
Day says that there were just under 3,000 active listings for sale on the Victoria MLS at the end of November, about 18% fewer than the active listings last November.
Day further reports that due to lower inventory levels, sellers are taking advantage of the current market conditions. With demand from buyers in most areas, combined with lower inventory levels, prices are going up. This is good news for buyers who are purchasing today. Darren further predicts that prices are going to keep increasing due to demand and historically low interest rates
The MLS Victoria price index benchmark value for a single family home has increased by almost 10% from the same month last year. Day also finds that many of the buyers are coming from different parts of Canada, and around the globe, to take advantage of Victoria's active real estate market.
Hot off the press: US buyer's are back! With the low Canadian dollar, investment in Canada continues to be strong.
Darren has been a leading realtor in Victoria for over the last 20 years and would love to help you take advantage of this market. If you're buying or selling, contact Darren today!
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