Victoria Real Estate Market Update-May 2023
May 2023 The Victoria Spring market is well underway. This year has been slower than usual, and the continued high interest rates combined with lower-than-normal inventory levels are keeping sales numbers on the lower side, resulting in a more balanced market for Buyers and Sellers. Overall prices have remained stable while some neighbourhoods are experiencing […]
Victoria Real Estate Market Update- April 2023
HAPPY EASTER! April 2023 The early spring market is showing signs of improvement due to a growing consumer confidence and increased demand for housing. The interest current rates are becoming the new norm and average prices, while still dropping slightly in some, are holding steady for the most part. Sale volume increased month over month, […]
Victoria Real Estate Market Update-March 2023
March 2023 The Victoria Real Estate market remained stable in February with prices dropping slightly while monthly sales increased from the previous month. The overall listing inventory remains low which should help keep prices from dropping much further in the coming months. However, the higher interest rates appear to be with us for the foreseeable […]
Victoria Real Estate Market Update-February 2023
HAPPY VALENTINE’S DAY! February 2023 The Victoria Real Estate Market started out slow as January sales were the lowest since the financial crisis fallout in 2009. The continued high interest rates appear to be the main reason for the lower numbers. The overall market will be slower in 2023, and prices may continue to […]
Victoria Real Estate Market Update-January 2023
January 2023 I Hope you and your family had a wonderful holiday season. 2023 is upon us and I wish everyone all the best throughout this year. Real Estate wise, it should be an interesting year as interest rates remain high and prices continue to soften. The future market activity is too hard to […]
Victoria Real Estate Market Update-Decmeber 2022
December 2022 Have a wonderful Holiday Season and a great New Years! As we near the end of 2022, the current market conditions continue to be greatly affected by the rising interest and mortgage rates resulting in lower sales numbers, slight price drops and higher listing inventory. This trend should continue in 2023. Below are […]
Victoria Real Estate Market Update-November 2022
November 2022 Victoria experienced a slight uptick in sales volume last month but the overall market is still feeling the effects of the high interest rates and high inflationary times we are currently living in. Inventory is up significantly from a year ago giving Buyers more choice while prices are still trending in a downward […]
Victoria Real Estate Market Update- October 2022
OCTOBER 2022 The Victoria Real Estate market has slowed this Summer but I do not foresee any catastrophic collapse. Sales have slowed significantly over the last few months and Buyers and Sellers are now taking days to put deals together as apposed to hours in the Spring. Currently there is no urgency to act […]
Victoria Real Estate Market Update-September 2022
SEPTEMBER 2022 Hope you are enjoying the tail end of the Summer and this great run of weather we are experiencing in Victoria. The Bank of Canada has increased interest rates this year to try and offset the high inflation rate, resulting in a summer slow down of the Real Estate market. Housing sales and […]
Victoria Real Estate Market Update-August 2022
AUGUST 2022 Hope your summer is going well. The weather has been great and summer holidays are in full swing. Not much to report this month other than the continued slow down in sales and softening of prices predominantly created from the large interest rate increases over the last 2 months. With predictions […]