#CondoExperts’ 2016 Forecast for Victoria Real Estate

Overall, 2015 was an incredibly solid year for Victoria real estate, and we saw an increase in value for both condos and for single-family homes and an increase in the number of people looking to get into the market. Near the end of 2015, we saw our real estate inventory decrease, but the number of buyers remained steady, ultimately creating the perfect conditions for multiple-offer situations, especially in the single-family market. One house saw 16 offers come in!
 The Condo Group, Victoria real estate, Victoria BC condos for sale, MLS Victoria condos, Condo Victoria, Victoria BC condos, Condo for sale Victoria, Victoria condo, Condos, Condos for sale Victoria BC, New condo development Victoria BC, Victoria condos for sale, condo for sale in Victoria BC, Victoria condos, Condos for sale Victoria BC, Condos Victoria, New condos Victoria BC, Condos for sale, Condos for sale Victoria, Condos in Victoria, real estate agents victoria bc, real estate in victoria bc, luxury real estate victoria bc, 2016 real estate forecast, real estate market forecast 2016, real estate market 2016, real estate investing in Canada, real estate investment Canada, investing in real estate Canada
In 2016, the inventory of Victoria real estate will likely continue to stay low, and with the government holding steady on interest rates, we will likely see an even larger increase in prices! The strong end of 2015 will definitely continue as we jump into 2016.While the condo market doesn’t seem to be as crazy as the single-family market, it does seem to be gaining momentum with the increased prices and stiff competition for single-family homes. Plus, with more people choosing to retire in our beautiful city, the lagging markets in Alberta and Saskatchewan, and Americans looking to invest while the CDN dollar is down, we are likely to see even more potential buyers for the condo market this year.In my professional opinion, I see 2016 continuing to trend upwards in Victoria real estate and making it a good time to buy or sell property.If you are interested in buying or selling your Victoria property, please give me a call at 250-661-9524 or email me at mikej@thecondogroup.com, so we can ensure you get top dollar for your sale or a fair price for your purchase.