Continued Strength Predicted for Victoria Housing Market
in 2002 - December 14, 2001
The 2002 President of the Victoria Real Estate
Board, predicts continued strength in the Victoria area real
estate market in the coming year. “This year we have
seen a dramatic improvement in the number of sales through
the Board’s Multiple Listing Service® and we anticipate
continued strength and stability in the local housing market
in 2002”. Sales in the first 11-months of this year were
29% higher than in the same period in 2000. The President
adds that although 2001 brought some economic uncertainty,
the outlook for the New Year remains positive.
The President notes that while there has
been some modest upward pressure on prices for single-family
homes in the past year, as yet there has been little increase
in prices for condominiums or townhomes. “Demand for
moderately priced homes remains strong with over 56% of single-family
homes so far this year, selling for under $240,000, 60% of
townhomes selling for under $200,0000 and 77% of condominiums
selling for under $180,000.
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