Updated on September 18, 2018
Monthly Market Update
Here is your monthly market update for real estate in Victoria.
The number of new listings is up, comparatively from last year. Already, at mid month we are at 686 new listings compared to 1072 for the month of September last year. 291 of those listings happened in just the last 7 days.
So far this month there have been 263 pending sales, the majority of (174) happened in the past week. So, there has been a bit of a pick up for mid month.
This mid month pick up is to be expected as the people are often either moving, starting school or transitioning from family vacations for the first two weeks of September.
We are now solidly in a balanced market, which means sellers really need to be cognizant of their listing price. With more choice on the market, especially over the $800,000 mark, sellers will find their home stalling on the market while more reasonably priced homes sell quickly and possibly over asking price.
If you want more information about your home and what’s happening specifically in your area, please give me a call 250-744-0775