Inventory in Greater Victoria is Increasing Slowly

“The numbers we saw in April are a further indication that the market is gradually moving towards a more balanced state compared to the record setting pace of 2016.” says 2017 Board President Ara Balabanian.

A total of 885 properties sold in the Victoria Real Estate Board region this April*, 31.2 per cent fewer than the 1,286 properties sold in April last year. The ten-year average for sales in April is 772 properties.

“We are starting to see hints of a more traditional spring market. Local agricultural production has been delayed due to the late spring, and so has the local real estate market,” adds President Balabanian, “More sellers listed their homes for sale over the month of April compared to the month previous.”

There were 1,690 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of April 2017, an increase of 8.6 per cent compared to the month of March, but 34.8 per cent fewer than the 2,594 active listings for sale at the end of April 2016.**

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* Properties sold in the Victoria Real Estate Board region includes the southern tip of Vancouver Island up to just south of Cowichan Bay, the Peninsula, the Western Communities along with Salt Spring, Pender, Saturna, Mayne and Gailiano Islands. See the included map

** Pre-construction properties like Triple Crown do not necessary show up on the Victoria Real Estate Board’s Multiple Listing Service®. Contact us directly at 250-474-4800 to get the details.

If you are interested in seeing the remainder of the VREB report, CLICK HERE

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