The median days on market for homes in Greater Victoria continues a rising trend through to the end of September 2018.
We have been expecting this for some time as the record-breaking pace of sales in Greater Victoria witnessed through 2017 and into 2018 has started to moderate in the face of strict mortgage stress test rules and more headwinds in the economy at the federal and global level.
The median days on market in April 2018 was at 14 days, since then it has increased in each consecutive month with the most recent median value at 35 days on market at the end of September 2018.
This data is for single family detached homes in the Greater Victoria Area, as provided by The Victoria Real Estate Board – The data for condominiums and townhouses points to a stronger market versus the data for single family detached homes presented here — please contact us if you would like further details or if you would like to chat about the real estate market in and around Greater Victoria.
Happy October everyone!
The Farrell Group.