Blogs
Posts By Date
Categories

Victoria Real Estate at a Standoff as Prices Remain Steady

Total MLS® residential sales for September 2012 were 400 compared to 435 in September 2011. During the month, 216 single family homes sold throughout the Victoria Real Estate Board's region, just 28 fewer than the 244 sold in September 2011. The average price for single family homes sold in Greater Victoria last month was $589,361, down from September 2011's average of $622,393. The median price is down by $16,500 to $517,500 over September 2011. There are 5,025 active listings.

 

"We are at a bit of a standoff in the Greater Victoria real estate market," says Carol Crabb, President of the Victoria Real Estate Board. "Buyers are waiting for prices to go down, but there are no economic indicators to show that will happen. Sellers are pricing their properties reasonably for the current market, which is reflected by the fact that single family homes are selling for an average 96% of list price.

 

"The median price of a single family home is only 1.5% lower than last year and that number has held steady for the last five months," Crabb says.

 

Condominium and manufactured home sales are virtually unchanged over September 2011 (approximately 1% each), while townhomes sales have declined 10%.

 

Total Waterfront Single Family Dwellings sold: 18, up 7 sales from 2011
Total Non-waterfront Single Family Dwellings sold: 198, down 35 sales from September 2011
Single Family Dwellings sold over $1 million: 14 (0 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

Comments:
No comments

Post Your Comment:

* indicates required fields.
Your Name: *
Please note, your email will not be shown publicly
Your Email (will not be published): *
Comment: *
Please type the text as it appears above:
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.