Blog by Brenda Russell

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Victoria Real Estate Market Update - March 2016

Victoria Real Estate Market Update - 2016


Above Photo is of Taipei 101- Observation Deck on 89th Floor - Total 508 m 

Just returning from an AREAA Trade Mission to Taiwan.  Travelled with approximately 37 other agents from the USA as well as mortgage lenders and lawyers. It was an intense, fast paced trip visiting three cities, touring luxury properties, meeting real estate officials and other agents discussing and educating each other.  It was truly a global agent experience! Below are a couple of video's to share with you just a sampling of this incrediable experience.  Can you imagine paying $100,000. USD for a parking space in a condominium building?  How about paying about $2,800 USD per sq ft?  Victoria, British Columbia is a treasure and a beauty.  But I have to wonder if it will be the next Monaco or Manhatten?  As we all have said after travelling to other parts of the world... 'one doesn't realize how lucky we are until experiencing it'.  If you make a trip there, you must try dining at Din Tai Fung it has the best dumplings imaginable.  From the moment of opening the bamboo steamer and getting a glimpse of the small delicate, and delicious works of art that they call xiaolongbao.  Also, they sell the famous pineapple cake! I hope you enjoy a little...

經驗全世界的連結,教學相長,在專業領域上建立信任的友誼關係 復活節愉快 

Now, back to Victoria and this months market update:

The Victoria Real Estate Board reported that the year has started with the busiest month of sales in January since 2002.  In February, sales went up 42.4 per cent compared to the same momth last year.  Now we are in March and still very busy.  Inventory levels are lower than the previous year, with 2,562 active listings for sale compared to 3,480 active listings at the end of February 2015.  The benchmark value for the same home in February 2016 has increased by 14.7 per cent to $638,700. CDN.

Below Graph shows the Listings vs Sales for the Past 2 years


Below is a Graph Showing Victoria Sales to Active Listings Ratio


Happy Easter!  If you are considering selling this year or would like a confidential meeting to discuss your options please call me direct or text at 250.744.4556, or email: - your home is probably one of your largest assets.  That's why it's important for you to keep up to date on market trends in your immediate area.  Don't wait until the last minute - call today and we will review.  Please stay tuned for more updates.   


Above is a Photo of Brenda