Sales of real estate in the Greater Victoria area softened last month though prices for single family homes and townhomes showed little change. The average price for condominiums moderated somewhat. A total of 616 homes and other properties sold in July through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) compared to the 723 sales in June. Going back a year to July of 2007 we had 922 sales.
Bill Ethier of
Properties In Victoria Professionals, notes that today’s balanced market and a larger inventory of real estate for sale give buyers more choice and flexibility. The number of properties available for sale increased modestly from the previous month rising to 4,557. That represents a 34% increase compared to July of last year and inventory now stands at the highest level since May, 1998.
Bill notes that prices remain stable through out the Victoria Real Estate Area. The overall average price of single family homes and townhomes showed little movement last month. The average price of single family homes in Greater Victoria real estate area last month was $578,177; the six-month average was $596,659 though the median was lower at $529,900. On the more so
prestigious side, there was eighteen single family homes sold for over $1 million, including three sales on the Gulf Islands.
Let’s look at the rest of the real estate; the average price of all townhomes sold last month was $454,918 and the six month average was $435,786. The median price for townhomes was $417,450.
The overall average price for condominiums at $302,536 moderated last month, the lowest monthly average since May, 2007. This is not uncommon for this time of year since a lot of parents are purchasing condos for their kids to attend collage and university and these condominiums seem to be on the lower end of the price scale. The average for the last six months was $324,583 showing little change from the $326,904 six month average at the beginning of the year. The median price for condominiums in July was $285,000.
MLS® sales last month included 359 single family homes, 168 condominiums, 52 townhomes and 10 manufactured homes.
Here are the Victoria real estate summary Report and Graphs for your convenience
Victoria BC Real Estate Monthly Sales SummaryVictoria BC Real Estate Average Selling Price GraphsVictoria BC Real Estate Active Listings, New Listings and Sales Graphs These documents are stored in PDF format. If your browser already has a PDF plug-in like the Adobe Acrobat® Reader, you’ll probably be able to simply click on the document you’re interested in to view it here online. You can download and install this popular,
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Cheers,
Bill 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.
Enjoy the peaceful setting of this fantastic home in the heart of Broadmead. Wonderful south facing deck (with electric awnings for shade), with views of the Sooke Hills to enjoy your morning coffee, reading or summer BBQs. This fabulous home rests on just over 20,000 sqft of treed and well maintained land that will impress you with its beautiful rhododendrons and tranquil landscape. A bonus is the 1000 sqft 8 foot ceiling unfinished basement with own entrance.
