Market Update March 2014

What do we know?

Average house, townhouse & condominium MLS sale prices in Greater Victoria are down from their 2010 peaks.

Compared to February last year, house, townhouse and condominium median MLS sale prices are up slightly.

While still a ‘buyer’s market’, if the current trend continues, Victoria’s real estate market may reach a ‘balanced’ position within the next month.

The number of active MLS listings will grow in leaps and bounds from now until the end of June. While this is great for buyers, this increasing competition will keep pressure on seller’s prices.

What we suspect?

Given the number of properties that are not able to sell (86.3% last month) and so many listings expiring then re-listing and still not selling, it appears that most sellers are having difficulty getting accurate opinions of value and good marketing skills.

Every Penny Counts!

So far this year we’ve sold 83% of our listings at or above full list price.

Using our unique marketing methods, we have been able to sell listings this year at $25,100 and $29,999 above the full list prices our sellers chose.

If you’d are serious about wanting to sell and want the very best price possible, call Rick today for a free market evaluation and ask about his unique marketing plan.

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