Victoria Real Estate Update A Strong but Balanced Market for Home Sales
We had a busy spring market, with the highest unit sales in May and June since spring 2010, with 714 properties sold in May and 680 properties sold in June. April and May both had approximately an 8% increase in sales year over year, with a modest increase of 2.4% for year over year sales in June. Since March the sales to active listings ratio has fluctuated around 18%. We are in a balanced market with slow and steady growth, which is favourable for both buyers and sellers. Pricing is stable and there is less pressure on prices both ways, making it more predictable.
The market has seen a little slow down which is common for the beginning of the summer months, people are out enjoying the sunshine and summer holidays. There is still great energy in the market, with Buyers and Sellers out and active, finding that perfect home. Buyers are still looking for those properly priced properties which are well presented.
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