Category Archives: Economy

August 1, 2013 – Total real estate sales in Greater Victoria were up 11.5% in July 2013 over July 2012, the Victoria Real Estate Board reports.”Sales numbers are slightly lower than in June, but that’s part of our normal summer market cycle. When seasonally adjusted, our market activity remains strong for this time of year,”  Continue Reading »

VICTORIA BC – For the third consecutive month, the Victoria Real Estate Board reports sales through the MLS® System remained strong with 65% more activity in the current quarter than in the first quarter of 2013. “With 664 sales this month, and 1,938 sales this quarter, the market is definitely rebounding,” says President Shelley Mann. “We  Continue Reading »

The British Columbia Real Estate Association (BCREA) reports that a total of 7,664 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during May, down 0.7 cent from May of 2012. Total sales dollar volume was 2 per cent higher at $4.1 billion. The average MLS® residential price in the province was  Continue Reading »

What a difference a couple of years makes. Back in 2007, homebuyers would be lined up to purchase your house and multiple offers were common place. Today, although we are trending towards a balanced market in Victoria, BC, buyers still have the upper hand and instead of buying, they’re waiting, convinced that housing prices will continue to drop. What’s  Continue Reading »

Even though this article focuses on the Toronto condo market, the advice and information can be used for any real estate market including Victoria’s. I’m often asked this question if it’s the right time to sell or buy and it’s always a somewhat difficult one to answer as there are so many factors and individual  Continue Reading »

The British Columbia Real Estate Association (BCREA) reports that a total of 6,904 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during April, up 1.9 per cent from March on a seasonally adjusted basis, but down 2.2 per cent compared to April 2012. Total sales dollar volume declined 3 per cent  Continue Reading »

VICTORIA BC – Weighing in on the best April since 2010, Shelley Mann, President of the Victoria Real Estate Board, is cautiously optimistic that the Greater Victoria is back into a balanced market. “Consumer confidence is increasing,” Mann says. “Our total number of sales for April is 615, a 5% increase compared to April 2012  Continue Reading »

Greater Victoria’s real estate market is following tradition with a spring upswing in activities with month-over-month increases in showings, new listings and total sales. The Victoria Real Estate Board reports a total of 483 sales processed through the Multiple Listing Service (MLS®) in March 2013, an increase of 23% over the previous month. Sales figures  Continue Reading »

By Gregory Klump – Chief Economist, CREA – March 26, 2013 Canadian interest rates will remain stuck at their current unusually low levels throughout 2013. I’ve been saying as much since early 2012 and feel more than a little vindicated by the Bank of Canada’s policy interest rate announcement on January 23rd, 2013, when it  Continue Reading »

BC Real Estate Association reports that February BC home sales continued at modest pace & pent-up demand is growing. Victoria’s February 2013 Average House Price of $463,265 is virtually unchanged from 2012’s average of $464,570 (down only -0.3%) and our listing volume has only increased 4% over February 2012 to 3,252 overall residential listings, even  Continue Reading »