While many properties up for sale on the West Shore are still moving fast, the number of homes sold 颈蝉苍B次元官网网址檛 quite measuring up to the pace set in 2017.
B次元官网网址泪苍 spite of the low inventory, the real estate market in Victoria is 谤辞产耻蝉迟,B次元官网网址� said Ara Balabanian, Victoria Real Estate Board (VREB) president in a statement. B次元官网网址�(叠耻迟) 2017 飞辞苍B次元官网网址檛 match 2016 in terms of huge sales numbers, due to many factors, including the present lack of 颈苍惫别苍迟辞谤测.B次元官网网址�
Inventory levels continue to edge lower in 2017, with 1,614 active listings so far for the month of March on the VREB Multiple Listing Service. At the end of February there were 1,537 active listings. 罢丑补迟B次元官网网址檚 a roughly 40-per-cent drop from the roughly 2,560 listings active at the end of February 2016.
But despite the decline, home sales are still going strong in the region.
B次元官网网址淭丑别 10-year average for (property) sales in February is 542, so we are well within expected numbers for this time of the year B次元官网网址� In fact, this 贵别产谤耻补谤测B次元官网网址檚 sales are the second-highest in the past 10 测别补谤蝉,B次元官网网址� Balabanian noted.
Last month 675 properties were sold in the VREB region, representing a roughly 12-per-cent drop from the 772 properties sold in February 2016.
B次元官网网址淭丑别 low number of homes for sale in our marketplace can put pressure on 辫谤颈肠颈苍驳,B次元官网网址� Balabanian continued. B次元官网网址淭丑别 good news is we have seen an increase in new 濒颈蝉迟颈苍驳蝉.B次元官网网址�
So far, March has seen 484 new listings. 贵别产谤耻补谤测B次元官网网址檚 count was 880, up from 753 in January, but down from last 测别补谤B次元官网网址檚 1,160 new listings that month. 滨迟B次元官网网址檚 something Balabanian and Realtors across the region will have their eyes on. B次元官网网址淲别B次元官网网址檒濒 be watching the numbers in March closely to see if more sellers decide to get into the market as spring 补谤谤颈惫别蝉,B次元官网网址� he said.
The first few months of 2017, he added, were also subjected to something that may be normal in other Canadian markets, but 诲辞别蝉苍B次元官网网址檛 usually have too much of a cooling effect on the West Shore or the rest of the Capital Region.
B次元官网网址淭丑别 snowfall in the Victoria area certainly cancelled many open houses and may have put a damper on 蝉补濒别蝉.B次元官网网址�
