April Stats

Real estate buyers in the Victoria area have a growing number of properties from which to choose. The total number of properties available for sale rose to 3,591 in March - a 17 per cent increase over March of last year. Victoria Real Estate Board President, Tony Joe, says the return to a balanced market is good news for both buyers and sellers. "With more properties available for sale, buyers now have a greater choice, but the continued demand for homes and steady prices mean sellers can anticipate strong interest in properties that are realistically priced." There were 707 sales through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) in March, down from the 833 sales in the same month a year ago but up 14 per cent from the 619 sales in February.
Joe added that prices remained steady last month, "Twenty-eight per cent of single family homes sold for under $450,000 while nearly 36 per cent of condominiums sold for under $275,000." At the higher end of the market, Joe noted that there were 20 sales in Greater Victoria and two sales on the Gulf Islands of over $1 million.
The average price of single family homes sold in March in Greater Victoria was $597,176; the median price was lower at $529,625. The six-month average for single family homes was $591,439. The average price of all condominiums sold in March was $328,734; the average for the last six months was $332,552. The median was again lower at $300,000. The average price of all townhomes sold last month was $458,378; the six month average was $437,523. The median price was $411,500.
MLS® sales last month included 407 single family homes, 170 condominiums, 68 townhomes and 16 manufactured homes.
(http://www.vreb.org)

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December Stats

The value of all property transactions through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) hit a new record of over $4.1 billion in 2007, up from $3.3 billion in 2006. The value of single family home sales was over $2.5 billion while the value of condominium sales was over $756 million. Victoria Real Estate Board President Tony Joe noted that both sales and prices for all major property types increased last year. "Last year was another exceptional year for the local real estate market. The total number of sales increased over 12 per cent while the overall average price for single family homes rose 8.5 per cent; the average for condominiums rose over 11 per cent and the average for townhomes rose 10.5 per cent," said Joe.
Meantime, the sale of 14 single family homes in Greater Victoria over $1 million pushed the average price to a new record high of $624,450 last month; the median price, however, was considerably lower at $536,000. "It’s always important to bear in mind that the average price in a given month can often be significantly affected by the sale of high-priced homes," noted Joe. The six-month average for single family homes in December was $581,419. The average price of all condominiums sold in December was $332,793; the average for the last six months was $319,980. The median was again lower at $292,900. The average price for townhomes sold last month was $445,960; the average for the last six-months was $415,648. The median price was $387,900.
There were 408 MLS® sales last month, up from 385 sales in December of last year. There were 623 sales in November. Sales last month included 202 single family homes, 120 condominiums, 46 townhomes and 8 manufactured homes.
There were 2,799 properties listed for sale on the MLS® system at the end of last month, up from the 2,650 properties in the same month a year ago.
(http://www.vreb.org/)

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November Stats

Sales of homes and other properties in the Greater Victoria area soared 20 percent in October compared to the same month a year ago. There were 708 sales through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) in October, up from the 590 sales in the same month a year ago. There were 632 sales in September of this year. Meantime, prices for single family homes moderated somewhat while prices for condominiums and townhomes showed little change.
Victoria Real Estate Board President, Bev McIvor, says the strong sales and stable prices show continued consumer confidence in the market. “Sales last month were the highest for October since 2003 and so far this year sales are running nearly 13 per cent higher than the first 10 months of 2006.” McIvor added that it’s normal for overall prices to fluctuate on a month-to-month basis depending on the properties that sell in a given month. “While the average price of single family homes moderated slightly last month, the overall average price so far this year is over seven percent higher than at the end of last year.” The average price of single family homes sold in October was $556,222; the six-month average for single family homes was $570,454. The median price was considerably lower at $495,000. The average price of all condominiums sold in October was $343,334; the average for the last six months was $321,993. The median was again lower at $291,000. The average price of all townhomes sold last month was $407,031; the six month average was $404,163. The median price was $369,950.
MLS® sales last month included 375 single family homes, 196 condominiums, 79 townhomes and 22 manufactured homes.
There were 3,311 properties listed for sale on the MLS® system at the end of last month, down slightly from the 3,426 properties in the same month a year ago.

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