A record-setting $5 billion in real-estate has changed hands throughout southern Vancouver Island in the first three quarters of 2016. Citified.ca
A wild September has pushed Victoria's 2016 year-to-date real-estate sales to a record-breaking total of $5 billion, according to statistics released by the Victoria Real-Estate Board (VREB).
2016 has already surged well ahead of last year when a record $4.3 billion in real-estate changed hands.
The VREB has pegged September as the busiest since 1992's 903 transactions were recorded via the Multiple Listings Service. The month saw REALTORS® broker 781 sales, or 11% more than last September.
Total inventory remains tight with just over 2,000 properties available for purchase. The low inventory environment represents a 41% drop from inventory available in the fall of 2015 and is expected to help keep prices high throughout the remainder of the year. C
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