Blog by Brenda Russell

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VICTORIA REAL ESTATE

For the month of February there were 50 sales in the Victoria Area. For Single Family dwellings so far this month there is recorded 30 current listings, 15 pending sales and 7 sales.  Rockland has 8 current listings and one pending sale. James Bay has 20 current listings, 7 pending sales so far and 2 sales for the month of March.  The Fernwood area so far has 22 active listings, 4 pending sales and 8 sales since March 1st.  The Mayfair area has 7 active listings, 7 pending sales and 2 sold homes.  Sears area of Victoria has 2 active listings, 3 pending sales and 1 sale for March.  Hillside area currently has 12 listings with 4 pending sales.  I hope this helps you start to get a feel of the real estate market in Victoria, as we are starting 'spring time' .  If you are a first time home buyer there is new information on property tax exemptions.  You must finance at least 70% of the property value to qualify for the exemption, there are some restrictions on size of the lot and a minimum mortgage term of 1 year is required.  First time purchasers are now fully exempt for values up to $375,000.