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Victoria BC Real Estate Buyer’s Profile – January 2010

The Railyards in Victoria, BC (Vic West)

The Railyards in Victoria, BC (Vic West) Credit: pnwra on Flickr

Last month, I started a new series about buyer activity in the greater Victoria real estate market. The data comes directly from the “man (or woman) on the street” by way of a survey sent out by the Victoria Real Estate Board to agents who worked with a buyer to complete a transaction in that month.

Key highlights from this month’s data:

  • 25% of buyers used high-ratio (more than 80%) financing to purchase their home
  • Sooke, Langford, Colwood and Metchosin accounted for 20% of all purchases last month
  • Only three buyers found out about the property they bought via print media like a classified ad or real estate newspaper/magazine.
  • Agents are reporting more traffic at open houses, and more instances of multiple offers on the same property.

Check out the full details of the survey here.

Tim Ayres – Sooke Real Estate Professional

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