Even though July and August are traditionally slower in Real Estate, Victoria continues to attract the baby boomers from across the country and internationally keeping sales very steady. With over 500,000.00 Cruise Ship visitors a year the word is out, the West Coast of BC is a real treasure. Even if only 1 percent or ½ a percent of the visitors decide to return to enjoy live in Victoria, that translates into 2500 new arrivals a year and the supply is not keeping up to the demand. The new normal is any property within the 2 mile circle of the Inner Harbour is in high demand and suburbia has sprung up with vibrant Westshore offering extensive recreational, shopping and housing opportunities. Get ready for a busy fall and a big spring for 2017 after another wave of new arrivals finally decide not to handle another winter east of the Rockies.
May 1, 2015
Get ready, get set, and go, the Victoria Real Estate market is off to a roaring start to spring for 2015, with sales up 26.5 % for the month of April, listings are down by 7.1% at a time when traditionally listings are on the rise and listings overall for the year to date are down 10.42%.
We all know what happens when sales start out pacing supply. The combination of a terrible winter in the rest of Canada along with the next wave of baby boomers looking to retire to the West Coast of Canada is pushing the Victoria market this spring, along with record high prices in Vancouver, Victoria looks like the bargain of the year and buyers are starting to realize now is the time to get in before the next rise.