2016 has been a year of record-breaking sales volumes throughout the capital region with August overtaking a record set nearly ten years earlier. Citified.ca
Yet another real-estate sales record has been set this year as southern Vancouver Island's home buying frenzy continues.
According to the Victoria Real-Estate Board, a total of 883 transactions were made throughout the month via the Multiple Listings Service, beating out 2007's record of 846 sales and blowing past last August's 746 sales by nearly 20%.
Available inventory has remained low throughout the year and August has been no exception. With just 2,094 active listings throughout the month, or 43% below last year's 3,688 listings over the same period, the sustained low inventory environment has fuelled a strong seller's market that is expected to continue for the remainder of 2016 and put added pressure on real-estate prices next year.
Earlier in the year the months of March, April and May surpassed previously held sales records and established 2016 as a benchmark year for southern Vancouver Island real-estate. C
Stay on top of local real-estate news with Citified's Insider Report newsletter. Click here to subscribe.
© Copyright 2016 by Citified.ca. All rights reserved.
Article resources
- Stay on top of local real-estate sales statistics with VibrantVictoria
- Subscribe to Citified's Insider Report to receive our newsletter straight to your inbox
- Looking for a new-build home or commercial space in Victoria? Use Citified to research new-build condos, rentals and commercial spaces
- Follow Citified on Twitter
- Connect with Citified on Facebook:
$6.54 airfare from Victoria to Edmonton the real deal as start-up takes on Westjet, Air Canada
STAY CONNECTED TO CITIFIED