A study of real estate activity from February to May 2019 which looks at the sales-to-active-listings ratio (SAR) in each individual neighbourhood, for all property types reveals Vancouver Island hotspots that remain firmly in a seller’s market. There are 34 Island neighbourhoods which are still seller’s markets. The three hottest areas were in South Jingle Pot in Nanaimo, Campbell River Central and Victoria’s Jubilee neighbourhood, all at 32 per cent SAR. In the single-family market, Nanaimo’s Old City was by far the hottest spot with an SAR of 67 per cent. Condos are most in demand in Victoria West, with a 33 per cent SAR.
A figure over 20 per cent indicates a seller’s market, while 12 to 20 per cent is a balanced market, and below 12 per cent is a buyer’s market.
Reference: https://www.timescolonist.com/real-estate/which-vancouver-island-neighbourhoods-are-still-seller-s-markets-infographic-1.23884138
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