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real estate

real estate

Home Prices Down in Greater Victoria

2y ago
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http://www.ctvvancouverisland.ca http://www.facebook.com/ctvvi VICTORIA - The real estate market in Greater Victoria has been a bit of a gamble for the last couple of years. Buyers waiting on the sidelines to see if, and when, prices might bottom out. Sellers battling the urge to put up a for-sale sign in case prices start to go up. And after reports two of Canada's hottest markets, including Vancouver, are cooling off, everyone is wondering what is happening here? The Victoria Real Estate Board says June sale prices were down slightly from May. But the Board's statistics show a big drop in sales between June 2011 and June 2012. In June 2011, the median single family home in Greater Victoria sold for $569,900. Last month prices sat at $530,000, a drop of nearly $40,000. Condominium sale prices are also down from $300,000 to $266,000 this June. Follow Louise Hartland on Twitter: http://www.twitter.com/CTVNewsLouise