Sales in July were 16.9% higher than last year and 796 properties sold over the month, which is lower than the spring but expected for the summer cycle. The Benchmark single family home value in the Victoria Core this month was also $599,800, which is a 6.3% increase over the same time last year of $564,300. For the full article see the Victoria Real Estate Board:
Another Hot Summer Month of Sales for Victoria Real Estate Market
August 4, 2015, Victoria BC - The Victoria Real Estate Board today released its report on Multiple Listing Service® real estate activity in the Victoria area for July 2015. A total of 796 properties sold in the Victoria Real Estate Board region this July, compared to the 681 properties sold in the same month last year.
"We've certainly seen the busy spring market continue into the summer months," Victoria Real Estate Board President Guy Crozier says. "The theme of declining listings and increased sales volume is consistent through July, and we're seeing the market go through its typical summer cycle. Sales dropped a little from the spring as we would expect, but are still up a very healthy 16.9% over last year."
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $564,300. The benchmark value for the same home this month has increased by 6.3% to $599,800.
There were 3,942 active listings for sale on the Multiple Listing Service® at the end of July, 13.7% fewer than the 4,570 active listings in July 2014.
"Consumer confidence remains very strong and shows no sign of falling off in the coming months. Interest rates continue to be very favourable; many buyers are taking advantage and making a move," adds President Crozier. "If you are thinking about buying or selling a home, connect with your local REALTOR® for detailed information on the Victoria and area housing market."