June 2017 Market Update

Dockside Update: June 2017

Our market seems to be a little quieter, and certainly this is true for June in Victoria compared with last June. 

Our Board President says over the long term this June would be showing record sales, if not for the amazing sales in 2016. This month there were over 1000 Sales in Victoria (14% fewer than June 2016) and the ten-year average for June is 798, so even though it seems quieter, things are still perking, and the prices in Victoria still rose 15.1 % over June 2015. The Benchmark value in 2016 was $721,000 and now the same home is $821,600. 

On Pender, we have had 55 Sales to date, 5 over the same time last year.  In June alone we have had 17 Sales over only 14 in June 2016, so even though it seems quieter, we are showing better sales, with only 76 Listings Total.

Now that the Government has finally determined who our Premier is, maybe things will start moving even more.  With the US interest rates rising, and the threat of the same here, we may also see many more buyers get down off the fence.  When interest rates start to rise, our market usually picks up, so buyers can "lock in" before they go any higher.  Certainly, the weather is better, so we remain hopefully optimistic for a very busy summer.

PENDER ISLAND STATS

Current Listings: 75
Residences: 38
-Waterfront: 12
-Inland: 26
Bare-Land: 30
-Waterfront: 5
-Inland: 25
¼ Shares: 7
Sales  
June 2017: 17
June 2016: 14
January to - June 2017: 55
January to - June 2016: 50

SATURNA ISLAND STATS

Current Listings: 41
Residences: 13
-Waterfront: 3
-Inland: 10
Bare-Land: 26
-Waterfront: 10
-Inland: 16
Other: 2
Sales  
June 2017: 0
June 2016: 2
January to - June 2017 5
January to - June 2016: 9