Good morning! We hope that you had a happy and safe holiday weekend. We are thankful Victoria was spared from the hurricane and we pray for everyone that has been affected by it. Monday Market Watch is the perfect way to stay up-to-date on the Victoria housing market. Whether you are planning to buy a home or sell your home, it is so important to understand the current market trends to help you make informed decisions. Let’s take a look at the home sales for Victoria for the first week of July 2024. Keep in mind that due to the holiday, last week was a short one with fewer closings than normal.
This week’s Monday Market Watch report shows 241 homes for sale in Victoria County. 26 new homes hit the market last week. 11 homes closed and a total of 21 homes went pending or under contract. The average days on the market is 118 days and homes sold for 89.9% of the list price. This percentage usually sits around 95-96%, but one listing really affected it because it was a home with acreage for sale. In the end they sold the house with just a couple of acres which was a huge difference between the list price and sold price. If we remove that listing from the equation, the percentage would have been 95.2% which is consistent with where the market has been for a while now. The average days on the market is also higher than normal. This is due to fewer closings from the short week and over half of the closings had been on the market 125-241 days. This is good news for sellers who have had their home listed for a while. Buyers are out there looking at all properties!
