Inflation, rising interest rates create caution across Metro Vancouver’s housing market VANCOUVER, BC –…
Greater Victoria is on top of the world when it comes to the “hottest” housing markets around the globe, according to Christie’s International Real Estate.
The company’s “luxury thermometer” for primary markets set Victoria on top, followed by San Diego and Orange County in California, Washington, D.C., and Paris.
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Last year, the average time to sell a luxury property, based on a $1-million-and-over sale price, was just 32 days, Christie’s said in its new luxury housing report. That’s down from 41 days in 2016.
“Powered by an influx of buyers from the United States and China, Victoria is experiencing the same rapid growth in housing prices and sales volumes that have strengthened Toronto and Vancouver in recent years,” the report said.