For the 3rd quarter of 2016, condo sales across Victoria totaled 741 units. This was a sharp increase of 28.2% from last year and marked the highest 3rd quarter on record!
Across Victoria BC, the median number of days on market for condo sales was 17 in the 3rd quarter of 2016, down from 50 days on market at the end of the 3rd quarter of last year.
Q3 Condo Sales on the Rise
Data shows that condo listings between $275,000-$350,000 tracked the fewest days on the market before selling. This is due to increased buyer demand and few sellers to supply the market in the price range.
Condo owners with properties above $200,000 should feel optimistic because the data shows that sales for $200k+ units have increased from last year’s third quarter levels.
*stats courtesy of CREA
Near Record Breaking Q3 Median Price
The median price for condo units increased 12.7% year-over-year to $310,000 in Q3 2016, giving us the 2nd highest median price on record!
Thinking About Selling Your Condo?
An offer only for condo owners who are ready to sell
Right now, I am offering a free condo market analysis -- only if you are ready to sell.
Click the button to go to my online form. Fill it out completely and submit. I will then discover the best sell price for your condo and call you as soon as I have the results.