Posted by: Daryl & Wendy Ashby | June 18, 2015

Let’s Get it Right

I was approached the other day by a past client who stated that she had heard from a good source (another realtor) that prices were still dropping and hence our former client had decided to not move from their current residence.

To set the record straight; the June report from the Victoria Real Estate Board recorded the following:

“May’s volume of sales were 26.8% greater than the same time last year with 905 sales vs 714 a year ago.” This is the greatest number of sales since May of 2007 when there were 963 properties changing hands.

As for sale values; “the benchmark value for a single family home in the Victoria Core this time last year was $570,500 vs $593,200 this past May; an increase of 3.98%.”

One reason for this increase is there were 13.5% fewer listings out there for buyers to chose from; but the primary reason is the increased confidence in the marketplace by those buyers on the move.

Now if that is a declining market; I definitely need to go back to school.

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