May 2017 Victoria Real Estate Market Report
VREB market statistics for April 2017 were released earlier this month indicating that the housing inventory in Victoria, British Columbia, Canada is still increasing slightly and sales are "constrained". According to VREB Board President quoted in the press release, "... the market is gradually moving towards a more balanced state...".
History tells us that listing your home when demand is high and supply is low is always a good situation for the seller. Balabanian of the VREB further stated in the release that "Inventory is still low, which means that buyers may encounter multiple offer situations in some of the high demand areas - there is still more demand than supply."
However, one of the most important decisions you will make in the home selling process is selecting a Realtor to assit you in your Real Estate transaction. Make sure you have a good Realtor in your corner, someone who communicates well with you. A Realtor will make a difference when seeking good value for your home in what could easily be one of your life's most important transactions.
According to the VREB report there were 34.8% fewer listings this April compared to April 2016. When there are fewer houses for sale, an increasing population of buyers, a possibility of multiple offers and you are seeking a home in a popular housing market the demand will, most likely, always put pressure on supply. We see that in the price of an average single family home in Victoria, BC which has gone from 684,900 (2016) to 805,100 (2017).
"Ann's New-to-the-Market Real Estate Listings are featured below, give me a call anytime to speak to me about other new inventory I have scheduled to come on the market over the next few weeks," Ann Watley
Featured Homes For Sale
6220 Welch Road in Saanichton, BC : MLS(r) # 377389
Greater Victoria Region (Saanich, BC) (View Listing)
923 Whisperwind Place in Victoria, BC : MLS(r) # 376786
Greater Victoria Region (Langford, BC) (View Listing)
9704 Fifth Street : Sidney, BC : MLS(r) # 377385
Greater Victoria Region (Sidney, BC) (View Listing)
Real Estate Update provided by Ann Watley
Ann Watley | Personal Real Estate Corporation
Your Greater Victoria Real Estate Area Specialist
Pemberton Holmes Real Estate
107-2360 Beacon Ave,
Sidney B.C., Canada
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