, prices have remained high despite this influx of inventory. Compared to this time last year, overall prices are up 15.8% in Victoria, and 18% elsewhere on the Island.So while things have calmed down recently, it’s important to remember that making a sale in this type of market isn’t impossible – those who are looking to sell just need to be a bit more patient when listing their property.
“From a real estate sales perspective, it’s important that sellers work with a brokerage that can market the listing to make it as appealing as possible,” says Ryan. “[Vancouver Island] is fortunate enough to attract a strong relocation crowd who choose to retire here or make the move for a slower pace of life,” explains Ryan. “Interest rates are less of a concern for this section of the population.”