Prediction for Huge Increases 2016
Well 2015 was even better than predicted, but I have left my 2015 predictions up for your review because they were very true and those that acted on the suggestion to buy early in 2015 starting in January and certainly not waiting past April made good money on their Real Estate move.
We can expect more of the same for 2016. The year has started with a huge reduction in listings as compared to one year ago, we started 2015 with over 3200 active listings, and we are starting 2016 with 700 less listings with only 2500 properties on the market, coupled with 156 more sales in December 2015 than in December 2014.
So 2016 is off to a very active start, the desirable aspects of living on southern Vancouver island, the lack of congestion and lower prices compared to the Lower Mainland continues to drive home owners and investors to the Greater Victoria Area.
Get ready for this in 2016, Victoria is about to experience the Massive Price Increases experienced in Vancouver in 2015. Those of you thinking of buying, relocating, or adding to your Real Estate investment portfolio should act sooner rather than later this year.
Expect to see strong increase in the prices of New Condominiums and in bare land, building lots and acreage will experience strong demand and price increases not seen in the last two years.