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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