Posted by & filed under BC Real Estate Update, Victoria Real Estate Update.

It is hard to believe that it is already February. I think that we are all ready for some longer days and more sunshine. The Victoria Real Estate Board released their numbers for January. There were 342 Net Unconditional Sales (sales where subjects were removed but keys have not yet changed hands) and there were 294 last year in January 2013. That is a nice 16% increase in sales over last January. We were about the same number of new listings onto the market with 1090 this year and 1080 in January 2013. We have less active listings on the market this January with 3489 active listings in January 2014 and 3870 in January 2013.

What are we seeing happening in reality? We are seeing that a well priced, well presented home in a good neighbourhood is selling quickly.  With less properties on the market, we do not have the same volume of inventory for buyers to choose from. We are seeing multiple offers pop up more frequently. House prices are not changing too much but we are experiencing a larger volume of sales. It has been an active January and we hope to see an active February as well. 

If you are thinking of buying or selling in the spring market, give us a call and we would be happy to provide a free market analysis of your home or simply discuss the market in more detail with you over a coffee.

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