Karen Love
Karen Love
Robyn
Wildman

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Surprising summer sales for Victoria and area real estate
August 1, 2014, Victoria BC – The Victoria Real Estate Board today released its monthly
report on real estate activity in the Victoria area for July 2014.
681 properties sold in the region in the month of July 2014, compared to 583 last year in
July – an increase of nearly 17%. June 2014 saw 680 sales.
When compared with year-to-date sales in 2013, 2014 shows a 10% increase.
“I think the activity in July has surprised a few people,” Victoria Real Estate Board
President Tim Ayres says. “Traditionally the summer market is slower than the spring,
but numbers are tracking closely to March and April sales this year. Last year sales in
July were 12% lower than in June – and June was the peak of the market in 2013. This
year we see slightly more sales in July than in June. This is the first year since 2003 that
July numbers have beaten June.”
The MLS® Home Price Index (HPI) benchmark value for a single family home in the
Victoria Core area in July was $562,000 – 2% higher than last year’s average value for
the same home - $550,900.
“I’m looking forward to August numbers. With the diverse inventory on the market, stable
pricing and the reasonable interest rates,” adds President Ayres, “I think the busy sales
season could last into fall.”
Victoria Real Estate Board President Tim Ayres is available for comment. More
information on the July 2014 report and the MLS® HPI is available from the Victoria Real
Estate Board.
About VREB – Founded in 1921, the Victoria Real Estate Board is a key player in the
development of standards and innovative programs intended to enhance the
professionalism and community standing of REALTORS®. More than 1,200 local
REALTORS® are currently members of the Victoria Real Estate Board.
Contact:
Denise Hogue, communications manager - dhogue@vreb.org, 250 920-4652
For More Information
Victoria Real Estate Board
Denise Hogue, Communications Manager
Phone: (250) 920-4652

This information was taken from the Victoria Real Estate Board, 3035 Nanaimo Street Victoria, British Columbia, CANADA, V8T 4W2