Holiday Greetings from The Farrell Group!

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December 2016

It is that time again to wish our wonderful clients a very Merry Christmas and Happy Holiday Season.

Our Victoria Real Estate Board President, Mr. Mike Nugent sent this out to all agents this morning and it is an apt summary of the Year in Review for 2016, from an agent’s perspective.

“Dear Colleagues,

Congratulations on a job well done this year.

Your Victoria real estate market broke records in 2016, and many of you led your clients through stressful and high-pressure situations with professionalism and grace. Low inventory levels, high demand, changes in mortgage rules, multiple offer situations, changes from the government to real estate self-regulation and more; are challenges you dealt with on a regular basis this year. For those clients who have purchased a home with your help a handful of times in their lifetime, the 2016 market conditions were equal parts nerve wracking and exciting. With your help, well over 10,000 transactions took place (the best year we have on record since tracking of this metric began in 1990).”

From my perspective the Luxury market has found its feet once again and for the first time in many years, there is a low inventory in this category as well. We have seen inquiries increase from Americans post-election, and continue to see Vancouver, Calgary and Toronto buyers on the rise. The bulk of our sales however are still predominately local. Victoria still remains one of the most spectacular places to live and invest, and I look forward to a New Year in 2017 with a very positive outlook.

The Farrell Group is expanding and we will soon have an announcement of a new team member, plus we will be upgrading our web site and augmenting our marketing model. Client service and satisfaction remain at the heart of the matter!

Please feel free to call anytime if you need real estate assistance or just to say hello.

As always we hope this letter finds you in good health and happiness.

Leslee Farrell on behalf of The Farrell Group

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