In January 2024, Victoria Real Estate Board witnessed a 22.7% increase in property sales compared to January 2023, totaling 341 properties sold. Condo sales rose by 10.9%, with 112 units sold, and single-family home sales surged by 35%, totaling 162 sold.
With interest rates leveling off and inventory slowly increasing, it’s helped with market stabilization. We are no longer in that highly pressurized market of recent years which created complicated and sometimes stressful conditions for both buyers and sellers.
This balance and stability in our market brings with it an optimistic outlook for the coming months. If balanced conditions continue, buyers and sellers will have more time to make decisions and there will be less pressure on pricing. Of course, there are many factors that impact the market here in Victoria and, as we’ve seen in the past, things can change very rapidly. If you are considering selling or buying in the coming months we would love to help and be a part of your team. Please contact us at Source: VREB
Shannon & Glenda Real Estate Team / 250-812-8188 / 250-883-6523 email@example.com