Candid Comments on Vancouver Island Real Estate Market for May 2020
Candid Comments on Vancouver Island Real Estate Market for May 2020

The Neal Estate Team's Victoria Real Estate Update for May 2020


As we all pull together, adapting, taking extra necessary steps to keep each other safe, having successfully flattened the curve, we are seeing an emerging “new normal” with our personal and professional lives. Although deemed an essential service, the Pandemic certainly impacted the real estate industry and the “spring market” here in Victoria.
The Victoria Real Estate Board experienced an expected drop in new firm sales reported for April 2020 to the tune of 58.8% compared to the same month last year with 287 total sales. Condo sales were down 64% with 73 sales in the same year over year comparison and single-family homes were down 55.8%. These numbers exceeded... click here to continue reading

The Neal Estate Team's Real Estate Market Update for Vancouver Island for May 2020


While Vancouver Island residents came together to prioritize health and safety, “The Spring Market” experienced the expected impacts of social distancing and stay-at-home measures. Single-family home sales were down 54.1% compared to April last year with 189 properties sold and down 43.2% from March 2020. Condo sales were down 82% while townhomes were down 69%.
The number of single-family home listings available on the market dropped 9% down to 1,173 but inventory on the condo market was up 33% compared to... click here to continue reading

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The Neal Estate Team's 

COVID-19 Real Estate update.


We take COVID-19 seriously, here are the precautions and procedures we have implemented to protect the health of our clients and staff.
 
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