cheaprealty net

Here is a chart that shows the rise in total dollar volume in my local real estate market, the Greater Victoria area of British Columbia, Canada. In this case, the volumes are restricted to single family homes from 1978 to 1994.

Since that time, the unit numbers used to generate the chart include the records for condo, single family, and townhome sales reported by the local real estate board. The chart numbers do not include units sold in outlying areas defined by the Board, that are sometimes reported with other board statistics, such as the Gulf Islands or the Malahat.

It is clear a massive amount of dollars changed hands because of real estate in recent years. This would seem the likely cause for the similarly recent spike of real estate valuations. It remains to be seen how long this trend of increasing total dollar volume will continue in the local market.

If it doesn't, what will the fall-out be for local prices? Statistics are from the Victoria Real Estate Board, and were compiled in an Excel spreadsheet in order to produce the chart.