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Second Quarter Strength in Greater Victoria Real Estate Market

June 3, 2013

 

VICTORIA BC, - Greater Victoria real estate sales for May are identical to the same period one year ago: 659 properties sold on the MLS® System.

 

“We are continuing to see improved consumer confidence in the marketplace,” says Shelley Mann, President of the Victoria Real Estate Board. “Our Members are much busier with showings and writing offers, but say they are working harder to help their clients satisfy stricter lending rules. This quarter is definitely much stronger than the first quarter of 2013.”

 

Buyers remain price sensitive. “Homeowners who are pricing their properties competitively, not expecting the higher sale prices of 2008, are selling their homes,” Mann says. “With 4,783 active listings, buyers have plenty to choose from. With higher sales volumes and a reasonable inventory level, Greater Victoria continues to edge towards a balanced market.”

 

There were 384 single family homes sold in May at a median price of $515,000, down 3.4% over May 2012 at $533,000. Condominium sales were 142 at a median price of $289,500 and 68 townhomes sold at a median price of $400,000. “With average and median prices fluctuating on a monthly basis, it’s more important than ever for consumers to consult a REALTOR®,” Mann says.

 

Total Waterfront Single Family Dwellings sold: 18, up 3 over May 2012
Total Non-waterfront Single Family Dwellings sold: 366, down 7 over May 2012
Single Family Dwellings sold over $1 million: 18 (2 over $2 million)

 

Graphical representation of recent sale counts and average prices

Tablular representation of sales statistics from the last two months and from last year

Total Single Family All Areas includes Shawnigan Lake/Malahat, Gulf Islands and Up Island

 

Summary Report and Graphs

Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs

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MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.