There were 19 sales of over $1 million that had an upward impact on the average price of single family homes in Victoria BC. This is becoming more and more common and we are showing homes over a million more and more often. The Luxury Real Estate Market is in demand.
These higher priced homes got Victoria Real Estate off to a solid start in the first month of 2008 pushing the average price to $606,449. There were 464 sales through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) in January, up from the 442 sales in the same month a year ago. There were 408 sales in December. Meantime, the total number of properties available for sale rose to 3,027. This is a 14 per cent increase over January of last year (2007).
The Victoria Real Estate market remains very healthy and the strong sales and increase in inventory represent good news for both sellers and buyers. There is a strong demand for homes that are realistically priced and the increase in the number of properties available for sale means more choice for buyers. It should be noted that nearly 29 per cent of single family homes sold for less than $450,000 last month while nearly 37 per cent of all condominiums sold for under $275,000 in January.
The average price of all condominiums sold in January was $349,045, and the six month average was $326,904. The median was of course again lower at $304,450. The average price of all townhomes was $423,774, with a six month average of $419,926 and a median price of $392,950. Total MLS® sales last month in the Greater Victoria Real Estate Boundary included 249 single family homes, 125 condominiums, 43 town-homes and 16 manufactured homes.
Summary Report and Graphs
Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs
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CheersBill
Bill Ethier B.Sc - REALTOR®
Properties in Victoria Professionals - Royal LePage Coast Capital Realty
Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.
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