The start to the fourth quarter of 2015 showed no signs of let up for Victoria real-estate.

According to statistics released by the Victoria Real-Estate Board, 734 homes on the Multiple Listing Service (MLS) sold in October, beating out last October's total of 602 sales by 20%. These figures, however, do not include pre-sales of condos, townhomes or single family dwellings which are rarely listed on the MLS.

Victoria REALTOR® Marko Juras says 2015 has been a pivotal year in the local real-estate industry since the market crash of 2008.

"2015 is arguably the best market we've had in the last eight years. Sales are significantly above the ten-year average and active inventory is significantly below the ten-year average. New listings coming on to the market are the lowest in ten years," Juras said.

Active listings plummeted by over 21% between October 2014 and October of this year, totaling less than 3,200 properties. And this only means one thing: rising real-estate values.

Juras sees resilience in the urban core of the region where demand for single-family-dwellings, in particular, is strong and serves as a barometer for the entire region.

"I see a sellers market for single-family-homes in the urban core through 2016 as prices go up and inventory remains tight," Juras said, adding that low interest rates and a tight rental vacancy rate have dampened the number of listings by home owners or investors motivated to sell due to financial pressure. C

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