Victoria BC Real Estate Update - Prestigiuos Property for Sale in Victoria

We, the Properties in Victoria Professionals, are proud to announce another Hot Property for Sale in Victoria BC.

Enjoy all the luxuries of this bright 2 bedroom 2 bathroom South West corner suite, in the environmentally conscious Dockside Green, including: Bamboo flooring, wood cabinetry, granite & marble countertops, pot lighting & exceptional appliances. This is a lifestyle you will want to choose. Walk along the waterfront to beautiful downtown Victoria. Cafe’s, grocery store, gym’s walking & cycling trails all at your doorstep. Quality steel & concrete construction. For more information this condo click here

Harnessing the latest innovations in green building technology, the buildings at Dockside Green are targeted to exceed the level of energy-efficiency required by the Model National Energy Code by over 50%. Contributing factors include double-glazed, low-emittance windows, high-insulating walls, and external shading devices that also help maintain comfortable indoor temperatures.

For more information on this development log onto their website at http://www.docksidegreen.com/ or feel free to contact us.

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.

Victoria BC Real Estate Update

Real Estate In Victoria BC - Monthly Update

Real Estate sales in the Greater Victoria area followed the expected trend and softened a bit last month as many people enjoyed vacation time with family and friends. The prices also moderated somewhat. There was a total of 517 homes and other properties sold in August through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®). Last year we had 616 sales in July and 846 sales in August.

Bill Ethier and Properties In Victoria Professionals, note that today’s buyers now have more properties from which to choose than at any time since 1996. This is great for all buyers. The number of properties available for sale is now at the highest level in over 12 years, increasing in August to 4,657. That represents a 39 per cent increase compared to August of last year.
The prices moderated last month with nearly 46 per cent of single family homes selling for under $500,000. The average price of single family homes in Greater Victoria Real Estate Area last month was $549,914, down from over $578,000 in July. If we look at the six-month average, it was $592,582. Further the median price in August was considerably lower at $512,000. How about the more prestigious and luxuary homes? Well, eleven single family homes sold for over $1 million in August, including two sales on the Gulf Islands.

The average price of all townhomes sold last month was $413,994, down from nearly $455,000 in July. The six month average was $435,309. The median price for townhouses in August was $382,000. The condo market last month was just about unchanged from July with an average price of $302,200. The average for the last six months was $319,825. The median price for condominiums in Victoria in August was $280,000.

Total MLS® sales last month in the greater Victoria real estate area included 269 single family homes, 160 condominiums, 53 townhomes and eight manufactured homes.

If you would like to have some more info here are some graphs that might be of interest.
Summary Report and Graphs

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

What do you think the real estate market will do in the next year? Write some comments below and let us know. Further, to Stay on top of the local Victoria Real Estate Market, subscribe to our free on line News Letter. If you are looking for a specific type of property like a small condo or a prestigious ocean front estate, we have the tools to make your search easy.

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.

Victoria BC Real Estate - BCREA Realeases the July Stats for the Province

The BC Real Estate Association has published the latest stats for major regions of BC.

Please see below for the latest information. Is it bad? No, it looks pretty good, but will the upward trend in Victoria continue? I believe we will see more moderation in prices and if not a slight downward tend in the coming 6 months to a year. A healthy correction. This should make buyer's happy!!!

July MLS Statistics:

Multiple Listing Service® residential units sold in BC totalled 6,541 for July, a decline of 37% versus the same month last year. The dollar volume of residential sales fell to $2.9 billion, a 38% drop against July 2007. July’s average residential home price of $444,358 represented a 0.5% decline compared to the July 2007 average ($446,481), and a 4% decline versus the June 2008 average ($463,458).

Greater Vancouver: Residential units sold totalled 2,215, a 44% decline compared to the same month last year, while dollar volumes decreased 45% to $1.3 billion. The average residential home price softened to $575,256, a decrease of 1% against July of last year.

Fraser Valley: Units sold totalled 1,216, a 37% drop against the same month last year, while dollar volumes fell 35% to $526 million. The average residential home price was $432,686, a 1.7% increase over July 2007.

Chilliwack: July sales declined 41% as measured by both units and dollar volumes, with 180 units clearing for a total of $54 million. The average residential home price retreated 0.7% against July of last year, settling at $301,923.

Victoria: Units sold totalled 592, a 32% decline compared to July 2007, while dollar volumes decreased 29% to $289 million. The average residential home price climbed to $487,864, an increase of 5% against July of last year.

Vancouver Island: Units sold totalled 709, a decline of 30% versus the same month last year. Compared to July 2007, dollar volumes dropped 27% to $238 million, while the average residential home price rose 4% to $336,204.

Okanagan (including South Okanagan): The Okanagan and South Okanagan markets recorded 646 units sold in July, a 40% decrease compared to July of last year, while dollar volumes declined 37% to $260 million.

Kamloops: Units sold totalled 232, a 30% decline against the same month last year, while dollar volumes declined 20% to $74 million. However, average residential home price climbed to $321,030, a level 13.5% higher than the area’s July 2007 average price.

BC Northern: Residential sales continued to drop in July, with 450 units sold representing a 15% decline in unit sales against July 2007. Dollar volumes fell 5% to $101 million, while average residential home prices rose 12% to $223,449 against the year-ago period.

Kootenay: Residential units sold totalled 252, a 29% decline compared to the same month last year, while dollar volumes fell 19% to $78 million. The average residential home price grew to $310,493, an increase of 13% against July 2007.
Source: British Columbia Real Estate Association (BCREA)

For more information the Victoria Market please feel free to contact us or visit our website http://www.propertiesinvictoria.com/ and click on Victoria Real Estate Market Update. The latest statistics for August will be out this week and we will have them uplaoded as soon as we see them.



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.