December 2024 The Victoria real estate market experienced a strong November with decent sale numbers and a good supply of listings heading into the final month of the year. December will be slower as the holiday season begins to take shape, but the forecast appears to be positive for a good 2025. Especially if […] The post Victoria Real Estate Market Update-December 2024 appeared first on Dale Sheppard ..read more

  October 2024 The Victoria real estate market remains balanced this fall with Increased sales, lower interest rates and a healthy supply of listings. These conditions should remain for the balance of 2024 and into the new year. Below are some of the statistics for October 2024 Listing Inventory: There were 3,161 active listings for […] The post Victoria Real Estate Market Update-November 2024 appeared first on Dale Sheppard ..read more

  October 2024 The Victoria real estate market continues to remain balanced, with a slight edge for Buyers at this time. The latest interest rate drop has helped bring more Buyers into the market, so the sales numbers were up slightly in September. However, the continued high supply of listings has given Buyers more choice […] The post Victoria Real Estate Market Update-October 2024 appeared first on Dale Sheppard ..read more

  September 2024 Victoria’s Summer real estate market is coming to an end and the Fall market transition has begun. Activity has picked over the last few weeks, which it typically does after the kids have returned to school and summer holidays have ended. The recent Bank of Canada interest rate drop should also bring […] The post Victoria Real Estate Market Update-September 2024 appeared first on Dale Sheppard ..read more

  August 2024 The Victoria housing market remains steady for buyers and sellers this summer. Hope you are enjoying this great summer weather. The market activity has been pretty good so if the Bank of Canada lowers interest rates again at the next meeting, the Fall market should remain steady as well. Below are some […] The post Victoria Real Estate Market Update-August 2024 appeared first on Dale Sheppard ..read more

July 2024 The Victoria real estate market is in a ‘slow but steady’ phase at this time. The high interest rates are keeping sales numbers on the lower side which is contributing to the build up of the listing inventory. This gives more choice for Buyers, while Sellers need to price their properties competitively if they expect to attract offers. These conditions should remain for the summer. However, the Canadian inflation rate was just announced today, and the rate dropped slightly, which bodes well for an interest rate cut next week by the Bank of Canada. This could create some increased sa ..read more

      June 2024 The Victoria real estate market has remained resilient through this high interest rate period, and now the Bank of Canada has finally decided to start to lower rates. Listing inventory is currently quite high in our region, while monthly sales numbers have remained seasonally low, yet prices have remained stable. This has created a balanced market which is a much better environment to be working in for Buyers and Sellers. However, homes must be well priced or they will be overlooked by the Buyers. Below are some of the statistics for May 2024 Listing Inventory ..read more

    May  2024 Just like the flowers, the Victoria spring real estate market is in full bloom! Listing inventory has increased substantially from a year ago giving lots of choice for Buyers. Sales are up slightly from last month, but lower than previous years for this time of the year, which may put some downward pressure on prices in the coming months if interest rates do not start dropping soon. In the meantime, prices remained strong for April, increasing slightly from the previous month, so this market is a win/win for Buyers and Sellers. Below are some of the statistics for ..read more

April  2024 The Greater Victoria real estate market is beginning to pick up as we enter the spring season. More homes are hitting the market this year which bodes well for Buyers. Prices remain stable and actually increased slightly in March for the first time in months. The Bank of Canada kept it’s overnight rate the same this week so there is no relief coming with mortgage rates at this time. Overall, the market should remain the same for the coming months, with inventory increasing and sales volume remaining lower than usual for this time of the year. Below are some of the statistics ..read more

  March  2024 The Victoria real estate market is entering the spring market with higher inventory and more choice for Buyers. With monthly listings far surpassing monthly sales, Sellers must price their homes competitively if they are to attract Buyers. The Bank of Canada did not make any rate changes last week, but most are predicting they will begin to lower rates at their next meeting in late April or by the mid June meeting. Below are some of the statistics for February 2024 Listing Inventory: There were 2,364 active listings for sale on the Victoria Real Estate Board Multiple L ..read more