Greater Victoria’s housing market remained strong in July, hitting the highest number of sales for that month since 1990. A total of 933 homes and other properties sold through the Victoria Real Estate Board’s multiple listing service last month, up 51 per cent compared with July 2008 when 616 properties changed hands.

At the peak of the market in 2007, a total of 922 properties were sold. The board’s monthly sales tables date to 1990. Greater Victoria’s real estate market slowed dramatically late last year and early this year. It picked up in the past few months as the market became more balanced and interest rates remained low.

July’s sales totals came in slightly below June, when 946 sales took place, the board said today. The average price for a single-family home moved down slightly to $565,469 in July, from $588,186 in June. The median price was $520,000.

Read the full article by Carla Wilson “Victoria’s July housing sales highest in almost two decades” in the Vancouver Sun (August 4, 2009).

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