Our Blog

Victoria Real Estate Market Slowly Stabilizing after a Record Breaking 2016

November 05, 2017

A total of 664 properties sold in the Victoria Real Estate Board region this October, 9.7 per cent fewer than the 735 properties sold in October last year.

"As expected, we saw fewer sales than this time last year," notes Victoria Real Estate Board President Ara Balabanian. "Looking at the longer term picture however, sales last month were 17.1 per cent above the ten year average of 567 properties for the month of October, so the market is still very active here in Victoria, and this is in spite of the ongoing low inventory levels."

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Final section of West Shore Parkway opens Wednesday October 4, 2017

October 02, 2017

Thinking about buying at Sunriver Estates but feeling concerned about your commute? 

After roughly two years, the last segment of the West Shore Parkway project officially opens to traffic Wednesday (Oct. 4) after 11 a.m. 

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Victoria Real Estate Market Statistics for August 2017

September 04, 2017

A total of 736 properties sold in the Victoria Real Estate Board region this August, 16.6 per cent fewer than the 883 properties sold in August last year.

"I admit to being a little surprised by the August numbers," notes Victoria Real Estate Board President Ara Balabanian. "I expected inventory numbers to be climbing by now, but instead we've seen even lower numbers of listings on the market. This is likely leading to some buyer fatigue along with pressure on pricing in high demand areas."

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Victoria Real Estate Market Remains Hot Into the Summer Months

August 14, 2017

"The activity level in the Victoria real estate market continues to be brisk, though we always expect a slowdown in the summer months," says 2017 Victoria Real Estate Board President Ara Balabanian. "This July, we saw a strong focus on the lower priced end of the market, with condos and townhomes and single family homes listed for under $700,000 in high demand. Many of those properties saw multiple offer situations."

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Victoria Real Estate Market Continues Tempo of Steady Sales Throughout May

July 06, 2017

"This year may feel a bit steady and less exciting when compared to last year's record-breaking market. People are getting used to this new tempo of brisk sales," says 2017 Victoria Real Estate Board President Ara Balabanian. "However, when we look at the longer term numbers, we're in a very active market. This June we counted over one thousand properties sold, while the ten year average for sales in the month of June is 798. If we remove 2016 sales, this June would have been the record breaker."

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We've moved!

June 27, 2017

If you've driven past our sales office on Sunriver Way lately, you've probably seen the big for sale sign. Don't worry!!! We're still here, we've just moved! We're rapidly selling the homes in our newest development RiversEdge Village (an adult oriented gated community of one level patio homes), and that's where you'll find us.

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Victoria Real Estate Market Sees Slow Increase in Inventory

June 02, 2017

"This month we have seen an increase in inventory - which means that buyers have more choice - and it means that now in some areas sellers are competing for buyers," says 2017 Victoria Real Estate Board President Ara Balabanian.

There were 1,896 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of May 2017, an increase of 12.2 per cent compared to the month of April, but 21.2 per cent fewer than the 2,406 active listings for sale at the end of May 2016.

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Victoria Real Estate Market Inventory Edges Up, Sales Still Constrained

May 01, 2017

"The numbers we saw in April are a further indication that the market is gradually moving towards a more balanced state compared to the record setting pace of 2016." says 2017 Board President Ara Balabanian.

A total of 885 properties sold in the Victoria Real Estate Board region this April, 31.2 per cent fewer than the 1,286 properties sold in April last year. The ten year average for sales in April is 772 properties.

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Victoria Real Estate Market Continues Trend of Low Inventory, High Demand

April 03, 2017

A total of 929 properties sold in the Victoria Real Estate Board region this March, 17.1 per cent fewer than the 1,121 properties sold in March last year.

"We predicted early in the year that we wouldn't see a continuation of the record sales numbers that we saw in 2016," says 2017 Board President Ara Balabanian. "However, we are still in a very active market, as evidenced by the fact that this is second highest March on record if you remove that record breaking 2016 data. We saw nearly 200 more transactions last month than March 2015, when 734 properties sold."

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Victoria Real Estate Market Healthy Heading into Spring

March 06, 2017

A total of 675 properties sold in the Victoria Real Estate Board region this February, 12.6 per cent fewer than the 772 properties sold in February last year.

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