On first glance the Victoria BC Real Estate Market looks incredibly hot over the past month of October 2020. However, I took a closer look at the 3 major economic products in the market; Single Family Homes, Condos and Townhouses. The stats of the past month can show us how the story for each type of home can differ. In my opinion, Single Family Homes in Victoria are currently experiencing a very high priced Sellers Market. If Buyers are looking for their purchasing power to go farther, both Condo's and Townhouses might be worth exploring in more detail at this current point in the economic cycle.
I take a brief look at the posted Victoria Real Estate Stats on October 1st. 2020 by VREB. https://www.vreb.org/current-statistics#gsc.tab=0 Hopefully I can showcase how it is important to narrow your focus to find relevant market data specific to your home of interest. While single family homes for example are in high demand, we must question if other assets such as condos currently are as well.
SUPERUS nails the need for using user personas.
The company SUPERUS can teach us the importance of using USER PERSONAS in real estate development and other areas of business and investing. If you are buying or selling a home, always ask yourself (in my opinion) who would buy this house in the future and why.