The Victoria Real Estate Board's President (along with many others) has pointed out we may not have a record breaking year like last year. [Read the Full Report From the VREB Here.] We entered February with 38.6% fewer listings than last year. Additionally, only 478 properties sold last month. That's 11.3% fewer than the 539 properties sold in January 2016.
However, I want to bring to your attention something I think has gone unnoticed. It is important to you if you are thinking about selling this year. Take a look:
Despite the slight cool-off, we're still seeing homes averaging 36 days on the market before selling.
That's terrific news if you are thinking of selling because homes may actually be selling in a fraction of that time in your own back yard. I help my clients understand that the market activity across the region may not necessarily reflect the market activity on the street where you live. Take a look:
Here's a map of Saanich East Real Estate that sold in 10 days for 10% over the asking price.
Here's a map of Victoria Real Estate that sold in 10 days for 10% over the asking price.
These lucky homeowners sold quickly for top dollar and are now preparing to start the next chapter of their lives. Could this be you? Fortunately, there is a way for you to discover and take advantage of the trends in your own back yard.
Ask me to prepare a best price analysis.
It's your way of knowing what your property could sell for in this market. I'll help you spot any trends in your neighbourhood. You'll also see what sold and what didn't and how well homes with similar specs as yours are performing on the market. You might be surprised!
-- Request your analysis and market report here.