Victoria's Changing Market - It's not just about the numbers
Real estate is a hot topic in Victoria. We’re all aware of the provocative headlines of the local papers over the last number of months. However, despite the concerns perpetuated by the creative headline writers in the press, the Capital Region, in reality, is settling in to a more “normal” situation.
The “numbers” need context. In the last decade or so, there have been over 10,000 new housing units added to our region. Our population has grown and the timing of new projects often affects MLS so the numbers aren’t the whole story.
Buyers do have more choice but Sellers are still selling if they understand the current dynamics and competition. This summer there were almost 1900 homes and properties sold through MLS – and there are still lots of buyers moving into our neighbourhoods still looking for the right property. We live in the choice destination in Canada. Someone once told me that “1% of the Canadian population lives here and the other 99% wants to!”
If you are making plans to buy or sell, let’s sit down to thoroughly discuss your situation and priorities – I’m here to help always.