The number of month-over-month sales increased in October — an uptick real estate agents could feel happening says the president of the Greater Victoria Real Estate Board.
An increase in sales numbers has buoyed Greater Victoria’s real estate market as it weathers the current financial uncertainty.
October had more sales, with some homes selling through multiple offers, said Dinnie-Smyth, who added that buyers were trying to get into the market before the next interest rate increase. Condominium sales climbed to 152 last month, from 126 in September. But they, too, were down from 249 year-over-year.
The benchmark price for condominiums was $602,700 in October, down from September at $617,400. A year ago, the benchmark was at $524,500.As far as the province’s new three-day right of rescission coming into effect in January, Dinnie-Smyth does not expect it to have an impact on the market.
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