RSS

Media release from VREB
February Sales Expose Extraordinary Demand for Victoria Area Properties
 
March 1, 2016 Victoria BC - The Victoria Real Estate Board today released its report on Multiple Listing Service® real estate activity in the Victoria area for the month of February 2016.
 
A total of 772 properties sold in the Victoria Real Estate Board region this February, an increase of 42.4 per cent compared to the 542 properties sold in the same month last year.
 
Inventory levels are lower than the previous year, with 2,562 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of February, 26.4 per cent fewer than the 3,480 active listings at the end of February 2015.
 
"We continue to see the effect of supply and demand on the market," notes Mike Nugent, 2016 President of the Board. "Areas near the downtown core have limited inventory, with less new product coming on to the market. As a result we see more pressure...
Read

<div id="hzroot1937610" style="width:300px;text-align:center;font-size:12px;padding:0;border:0;margin:0;"><div style="font-size:14px;margin-bottom:3px;"><table style="height:40px;width:100%;" cellpadding=0 cellspacing=0 border=0><tr><td style="width:40px;"><a href="http://www.houzz.com/pro/myoldtruck/don-burnham-realtor"><img src="http://st.houzz.com/simgs/d043b18f0457b724_0-4661/myoldtruck.jpg" border=0 style="border:0;" width=40 height=40/></a></td><td style="padding-left:5px;"><a href="http://www.houzz.com/pro/myoldtruck/don-burnham-realtor" style="float:left;font-size:14px;">Don Burnham Realtor Featured on Houzz</a></td></tr></table></div><div style="padding:0;margin:0;border:0;margin-bottom:3px;"><iframe data-hzvt="MjAxNDEyMDk6MjA2MDpidXR0b25zQW5kQmFkZ2Vz" name="HouzzWidget1944810" id="HouzzWidget1944810" border=0 frameborder="0" SCROLLING=NO style="border:0 none;width:300px;hei...

Read

Changes to first-time home buyers’ program

The Provincial Government has just increased the tax exemption for first-time home buyers from $425,000 to $475,000 with a sliding scale to $500,000.

This new change was effective February 19, 2014, based on registration, and is not retroactive.

The First Time Home Buyers' Program reduces or eliminates the amount of property transfer tax you pay when you purchase your first home. If you qualify for the program, you may be eligible for either a full or partial exemption from the tax.


Read
Categories
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.