November 2018 Month-End Statistics

The November 2018 month-end statistics are in line with expectations – lower unit sales and higher inventory are evident compared to November 2017 because most buyers a year ago were racing to make purchases ahead of the January 1, 2018 deadline when new mortgage stress tests mandated by the Federal Government came into effect.

 

With almost a full year under the new mortgage rules, and with slowly rising interest rates, the market is trending to balanced conditions (neither a buyer’s market nor a seller’s market) in most market areas and segments.

 

As always, the numbers never tell the entire story, and the extremely regional nature of real estate sales mean there are different factors influencing sales, inventory and prices in different neighbourhoods and segments.  Please contact us to discuss the local market information that we provide to our sellers and buyers when considering transactions in the Victoria Real Estate market.