Homes are Flying off the Shelves!

vreb market update-2As summer starts to show it’s head, the Victoria Real Estate market is high and properties are flying off the shelves. Continued low inventory levels of 2,406 properties for sale in May 2016 — 40.5% lower than the 4,043 of May 2015 — are driving active property listings to sell almost three times faster than last year. Likewise, we saw significant increase in the MLS Home Price Index from $593,200 in May 2015 to this year’s $706,500.

Indeed, as more out-of-town buyers discover the beauty our island has to offer, and the millennials start breaking their way into the Real Estate market, homes are in demand and it’s never been a better time to sell.

Nickole Goeujon | Realtor | Re/Max Camosun

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