Victoria Market Recap
As I mentioned the market has been pretty wild lately!
High demand coupled with a low inventory of properties for sale has resulted in competition and high sale prices. Single Family home sales increased by 57.3% over last year and Condo sales increased a whopping 83.1%. With the inventory on the market right now being a significant 32.5% less than at the end of January 2020, there's a lot of interest in new listings.
The luxury market has also experienced huge gains over last year- somewhat of a surprise given the pandemic. This January there were 25 properties sold for over $2m whereas in 2020 there were only 2.
Victoria Real Estate Board President David Langlois says that, "Right now, navigating both the buying and selling process is challenging. With many moving pieces and in such a fast-paced market it's important to leverage the experience and expertise of your trusted local Real Estate Professional."
Know that I'm always here to help- it's important to me that my clients are properly informed so they can make the best decisions for themselves and their families!