Posted by: Daryl & Wendy Ashby | May 25, 2014

Current Market

Current Market Place

Traditionally sprint has been the busy time of the year and based on the double digit increase in the number of sales over last year, we are definitely heading in the right direction.

For those who continue to wait for a further adjustment in pricing it would appear they are going to be disappointed. Currently prices are stable, inventory is good and we are balanced for both the buyers and the sellers.

Having said that; the Peninsula showed a drop of in values of 2% in April compared to the same time last year, while Westshore showed a 1.2% increase over the last year. Greater Victoria condo pricing was down 0.5%, but townhomes in the same region rose 2.4%.

This may suggest a migration to a region where you can get more for your dollar and for those who are entering the market for the first time, they are purchasing townhomes rather than started homes.

 

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