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April sets new Victoria real-estate sales record as buying frenzy continues

Aerial of Sidney on Victoria's Saanich Peninsula. Real-estate throughout the capital region is selling at a historic pace for the second month in a row. April surpassed last month's record-breaking 1,121 transactions by nearly 15%.  Citified.ca. 

April sets new Victoria real-estate sales record as buying frenzy continues
MIKE KOZAKOWSKI, CITIFIED.CA

Real-estate transactions throughout metropolitan Victoria have set an all-time sales record for the second month in a row, according to statistics revealed by the Victoria Real-Estate Board.

1,286 homes sold through the Multiple Listings Service in April, blowing past last April's total of 840 transactions, and March 2016's record-breaking 1,121 sales by nearly 15%.

Compared to April of 2015, this year's sales surged ahead by an astonishing 53%. Listings have taken a plunge, however, with a 34% drop to 2,594 and no signs of a rebound.

With such strong performance over the past two months and with no signs indicating hinting at an imminent slowdown, experts agree sellers are likely to benefit from continued bidding wars and high demand for properties while some buyers may be forced to consider smaller homes or alternative neighbourhoods in order to secure local real-estate. C

 

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