📊March 2024 Stats
✨The Victoria Real Estate Board saw a slight decrease in total property sales compared to the previous year, with 588 properties sold, but a significant increase from February 2024. Condominium sales dropped by 10.2%, while single-family home sales increased by 1.8% compared to March 2023.
✨The market is transitioning into spring, with more potential buyers, though this hasn’t yet translated into increased sales. Active listings saw a notable increase, up 12% from February and 34.4% from March 2023, which is seen as positive for both buyers and sellers, providing more options and confidence in the market.
✨The MLS® Home Price Index shows a slight increase in benchmark values for both single-family homes and condominiums compared to the previous year. The focus is on the importance of supply in maintaining a healthy market, with emphasis on the need for continued creation of new homes across various price points.
If you would like a home equity review or market update please feel free to reach out. We are here to help. 👇
Shannon & Glenda Real Estate Team
☎250-812-8188 or 250-883-6523
📨shannonandglenda@gmail.com
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