October 2020 Market Update
Posted by Capital City Group on
Real Estate Market Update!
October was a frightfully busy month for real estate in the Victoria Real Estate Board with 990 properties selling, a 60% + increase over the pre-COVID-19 October 2019. The sales to active listings ratio was a terrifying 46.7%, more than double the 20% threshold for a seller’s market. Multiple offers and bidding wars continued to define many segments of the market, with throngs of the un-homed lining up, looking for drains.
Low inventory continues to define the market driving up both house and condo sales alike. The abducted spring market, which whipped the summer market into a frenzy, may be mixing with ultra low interest rates and a desire to spend a second wave sequestered in more comfortable confines may be creating the roiling mixture of demand and sales!
If you’re looking for a home slightly less haunted then where you’re at, and want to know how much candy your spooktoria mansion is worth, give me a call today, and let’s get you settled in before Christmas…