I hope that everyone had an excellent Easter weekend!
Here is a new market update for the month of April.
Total sales in Greater Victoria during March bounced back 26% from the previous month of February: 688 versus 545. However, this still represents a substantial drop from the total number of units sold during March of 2017: 929 units. This lower volume of sales can be seen as arising from a substantially decreased inventory of available properties currently on the market. This phenomenon is in line with a national trend seen in most metropolitan areas throughout the country. Despite decreased inventory, sale prices remain solid and few economists predict a significant decrease in pricing in the short term.