Here are the highlights of the current MLS statistics:
- Inventory levels were 40.7% less than December 2015
- 2016 was a record-breaking year for real estate sales in Victoria
- Benchmark value for a single family home in the Victoria Core is $758,500 (up 23.6% from December 2015)
- Demand remains, as indicated by the 25% of homes that sold over asking price in 2016; however, lack of inventory will mean that we won't be seeing quite the same level of activity in the 2017 market
Read the Victoria Real Estate Board's article here.