Posted on
October 5, 2014
by
Kevin Ramsay
Strong sales and stable market conditions continue through September
October 1, 2014, Victoria BC – The Victoria Real Estate Board today released its report
on real estate activity in the Victoria area for September 2014.
565 properties sold in the region this September - an increase of 16% compared to the
487 properties sold in the same month last year. The quarter ending in September
shows a 15% increase in the number of sales overall compared to the same quarter in
2013.
“Once again we see more houses sold this month than last September,” Victoria Real
Estate Board President Tim Ayres says. “We haven’t seen sales like this in September
since 2009. The balanced market conditions we’ve seen over the last seven months
mean property prices are stable, so it might be more comfortable for buyers and sellers
to make a move because they know that property values are predictable.”
The Multiple Listing Service® Home Price Index benchmark value for a single family
home in the Victoria Core this time last year was $550,900. This month the benchmark
value increased to $556,200.
“There are some districts in the Victoria area that have seen an increase in their
benchmark values, and others that are relatively flat compared to last year,” adds
President Ayres. “Since there is this difference within the local market, it’s important to
connect with your local REALTOR® to get an understanding of the market as it relates to
your specific neighbourhood.”
Victoria Real Estate Board President Tim Ayres is available for comment. More
information on the September 2014 report and the Multiple Listing Service ® Home Price
Index is available from the Victoria Real Estate Board.
About VREB – Founded in 1921, the Victoria Real Estate Board is a key player in the
development of standards and innovative programs that enhance the professionalism
and community standing of REALTORS®. The Victoria Real Estate Board represents
more than 1,200 local REALTORS®.
Strong sales and stable market conditions continue through September
October 1, 2014, Victoria BC – The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for September 2014.
565 properties sold in the region this September - an increase of 16% compared to the 487 properties sold in the same month last year. The quarter ending in September shows a 15% increase in the number of sales overall compared to the same quarter in 2013.
“Once again we see more houses sold this month than last September,” Victoria Real Estate Board President Tim Ayres says. “We haven’t seen sales like this in September since 2009. The balanced market conditions we’ve seen over the last seven months mean property prices are stable, so it might be more comfortable for buyers and sellers to make a move because they know that property values are predictable.”
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $550,900. This month the benchmark value increased to $556,200.
“There are some districts in the Victoria area that have seen an increase in their benchmark values, and others that are relatively flat compared to last year,” adds President Ayres. “Since there is this difference within the local market, it’s important to connect with your local REALTOR® to get an understanding of the market as it relates to your specific neighbourhood."
Victoria Real Estate Board President Tim Ayres is available for comment. More information on the September 2014 report and the Multiple Listing Service ® Home Price Index is available from the Victoria Real Estate Board.
About VREB – Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards and innovative programs that enhance the professionalism and community standing of REALTORS®. The Victoria Real Estate Board represents more than 1,200 local REALTORS®.
