Prices up, but may be at ‘plateau,’ report finds
Filed Under Main Content · Tagged: 1 Million, Asking Price, Capital Realty, Condominium, Condominiums For Sale, Condos, Economy, Geurts, Greater Victoria, Multiple Listing Service, Plateau, Real Estate Company, Royal Lepage, Second Quarter, Spokesman, Square Foot Condo, Times Colonist
Times Colonist- Prices moved up for Greater Victoria homes in the second quarter of this year, but the region’s high inventory is pushing down some parts of the market, a spokesman for real estate company Royal LePage said yesterday.
"Homes are generally selling below asking price, and significantly so in some condominium cases," said Carol Geurts of Royal
LePage Coast Capital Realty in Victoria.
"It appears prices may have reached a plateau for the moment, in that much of the price growth we expected for 2010 has already happened."
Condos in the lower end of the price range are most popular, while it can be more difficult to move those priced at $500,000 and up. "I think it goes back to the economy."
Yesterday, the Multiple Listing Service showed 1,001 listings for condominiums for sale in Greater Victoria. Of those, 28 were priced at $1 million and up, with the highest at $4.2 million for a 4,060-square-foot condo at Songhees…
