Housing continues to trend toward balanced market

Greater Victoria's housing market continues to become more balanced. The ratio of sales to active listings is at 28.14%. Real estate professionals consider a balanced market to be between 20% and 15%, Victoria Real Estate Board president Karen Dinnie-Smyth said.
 
“A high percentage means more of the available listings have sold, which shows a high buyer demand and that’s generally a favourable market for sellers," Dinnie-Smyth said.
 
The benchmark value of a single family home in Greater Victoria's core was $1.39 million. That's down from $1.43 million in July, but up from $1.2 million last August.