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Benchmark value for single-family home in core now over $1 million

For the first time, the monthly benchmark value for a single-family house in the core area of Victoria has topped $1 million. The benchmark price for a single-family house in the core reached . . .

British columbiaDavid langloisOak bayView royalVictoria real estate boardGreater victoriaபிரிட்டிஷ் கொலம்பியாடேவிட் லாங்லோயிஸ்ஓக் வளைகுடாபார்வை அரசவிக்டோரியா ரியல் எஸ்டேட் பலகைஅதிகமானது விக்டோரியா

No break for homebuyers with low supply, high demand in capital region

“We’ve seen an imbalance in our market for a quite a few months,” Victoria Real Estate Board president David Langlois said Monday. “Our market is based on supply and demand and there is a disconnect right now with record low supply and high demand.” Desire for homes in specific markets can rise quickly, but it takes years to build new housing, he said. “These realities make it hard to bring our market into balance.” The benchmark value for a single-family house in the core of Victoria reached $996,500 last month, up by 12.6 per cent from the same month in 2020, the board’s new monthly sales report shows.

British columbiaVancouver islandCampbell riverDavid langloisGreater victoriaReal estate boardOak bayVancouver island real estate boardComox valleyபிரிட்டிஷ் கொலம்பியாவான்கூவர் தீவுகேம்ப்பெல் நதிடேவிட் லாங்லோயிஸ்அதிகமானது விக்டோரியாரியல் எஸ்டேட் பலகைஓக் வளைகுடா

No break for capital region homebuyers with low supply, high demand

No break for capital region homebuyers with low supply, high demand
timescolonist.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timescolonist.com Daily Mail and Mail on Sunday newspapers.

British columbiaVancouver islandCampbell riverDavid langloisGreater victoriaReal estate boardOak bayVancouver island real estate boardComox valleyபிரிட்டிஷ் கொலம்பியாவான்கூவர் தீவுகேம்ப்பெல் நதிடேவிட் லாங்லோயிஸ்அதிகமானது விக்டோரியாரியல் எஸ்டேட் பலகைஓக் வளைகுடா

Most houses selling for over list price in red-hot Victoria market

These days, it’s the norm for sellers to hold off offers for a few days, then receive multiple competing offers at once – most with no financing or inspection conditions attached. Langlois said 65 to 70 per cent of single-family homes sold in the region are going for above the listed price. “We are massively undersupplied and we have tremendous demand and pricing is very difficult in this market.” As of the end of April, just 1,133 homes were listed for sale in the region, a sharp drop from the 2,300 listings at the end of April last year. Sales have been brisk 1,173 properties changed hands in March, a 92.9 per cent increase from the 608 in March 2020.

British columbiaNicole burgessDavid langloisPemberton holmesMike millerVictoria residential builders associationVictoria real estateVic westNorth saanichCentral saanichOtter pointFrench beachCasey edgeVictoria residential buildersபிரிட்டிஷ் கொலம்பியாநிக்கோல் பர்கஸ்

Monthly real estate sales in Greater Victoria top $1 billion for the first time

Monthly real estate sales in Greater Victoria top $1 billion for the first time
timescolonist.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timescolonist.com Daily Mail and Mail on Sunday newspapers.

David langloisVictoria real estate boardGreater victoriaடேவிட் லாங்லோயிஸ்விக்டோரியா ரியல் எஸ்டேட் பலகைஅதிகமானது விக்டோரியா

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