Victoria Real Estate Market is Strong
The number of property sales and overall prices throughout Greater Victoria real estate area remained steady in September and showed little change from August.
There was a total of 512 homes and other properties sold in September through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®). This is down minimally from the 517 sales in August of this year. Last year in September there were 632 sales. The total number of properties available for sale at the end of September was 4,754, up 41 per cent compared to September of last year.
Despite the recent global economic uncertainty, the latest sales and price figures are encouraging. These figures attest to the continuing stability and strength of the local real estate market despite the troubling economic news that we hear about in the media everywhere. The average price of single family homes sold last month was virtually unchanged from August and the average price for town homes dropped some what, however the average price of condominiums sold increased last month in Victoria.
The average price of single family homes in the Greater Victoria real estate area last month was $549,284 compared to $549,914 in August, virtually unchanged. The six-month average was $585,643 and the median price in September was dramatically lower at $500,000.
What happened in the luxury home market? Well, last month there were 18 single family homes that sold for over the $1 million dollar mark. This includes three on the Gulf Islands.
The average sale price of all Victoria town homes sold last month was $405,287, down from nearly $414,000 in August; the six month average was $427,207. The median price in September was $370,000. Now the interesting part is that the overall average price for Victoria condominiums went up at $319,562 last month from just over $302,000 in August. The average for the last six months was $318,315. The median price for condominiums in September was $276,000.
MLS® sales in the Greater Victoria Real Estate Area last month included 309 single family homes, 111 condominiums, 53 town homes and 12 manufactured homes.
Summary Report and Graphs
Victoria BC Monthly Sales Summary
Victoria BC Real Estate Average Selling Price Graphs
Victoria BC Real Estate Active Listings, New Listings and Sales Graphs
If you are buying and 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.
