REAL ESTATE NEWS

B.C. realtors expect not only to sell more homes this year and the next compared to 2019. They also anticipate prices to rise in 2020 and 2021.
The B.C. Real Estate Association predicts 2020 to finish with a 7.7 percent increase in average price over 2019.
The BCREA also forecasts a further increase of 3.7 percent in 2021. ...

The average MLS price for a home in the province climbed almost 13 percent year-over-year in July. As many other sectors of the B.C. economy suffer, the residential property market keeps rebounding from its COVID-19 slump.
The province saw 10,090 residential unit sales in July, the British Columbia Real Estate Association (BCREA) reports, a 26.6-percent jump over the same month in 2019. ...

Last month’s real estate sales set a another record for the average selling price for a single-family home in Greater Victoria as rising sales of luxury homes, demand for single-family houses, low interest rates and tight supply combined to fuel the market.
July’s average price for a single-family house moved to $1.033 million from the previous record of $1.014 million in June, said the Victoria Real Estate Board. ...

Despite fewer listings than the same time last year, and with agents working within the challenges of COVID-19, property sales in Greater Victoria for July showed a significant increase on two fronts.
The Victoria Real Estate Board reported sales of 979 properties, which amounts to a 38 per cent jump from July of 2019, and a 21.2 per cent increase over sales in June of this year. ...