Victoria Real Estate Update - May 2015

It has been a very active spring market for sure! 4,043 active listings for sale on MLS® at the end of May, 13.5% fewer than the 4,672 active listings in May 2014. A total of 905 properties sold in the Victoria region, a 26.8% increase from May 2014. 60 single family dwellings in the Victoria map area sold during May with a total of 241 year to date.  Oak Bay had 34 sales, year to date 132.  The benchmark value for single family home in the Greater Victoria has increased to $506,800.

Below is a quote from the President of the Victoria Real Estate Board about the market as well as some final stats from the Victoria Real Estate Board:

Year to date we've had 16 homes priced $1 million and above in the Victoria area. There is confidence out there... Buyer's in multiple offer situations worried they will miss out and Seller's feeling secure that their property will sell.  Please read my recent Oak Bay blog post if you are curious about the activity there.

Don't forget this weekend is the Oak Bay Tea Party at Willows Beach and if you would like any real estate help please let me know I am very accessible with my direct number 250.744.4556 and toll free in North America 1.800.550.0585. Look forward to hearing from you and stay tuned for more updates!