The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province rose 16.4 per cent to 6,504 units in August compared to the same month last year. The average MLS® residential price climbed 10.7 per cent to $539,953 last month compared to August 2010.
“BC home sales edged up one per cent in August compared to July on a seasonally adjusted basis,” said Cameron Muir, BCREA Chief Economist. “Low mortgage interest rates continued to underpin housing demand in the province last month.”
“Total active listings in the province remained elevated in August,” added Muir. “Most regional markets exhibited buyer’s market conditions, meaning little upward pressure on home prices.”
Year-to-date, BC residential sales dollar volume increased 17.7 per cent to $31.7 billion, compared to the same period last year. Residential unit sales increased 2.6 per cent to 55,132 units, while the average MLS® residential price rose 14.7 per cent to $574,962 over the same period.
For the complete news release, including detailed statistics, follow this link: www.bcrea.bc.ca/news_room/2011-08.pdf.
If you are planning to purchase real estate in Victoria BC in the future, just let us know. Our team of professionals has the knowledge and the know how to meet your needs. Contact Bill or David at Properties In Victoria Professional™ team. You can consult their Victoria Real Estate website www.PropertiesInVictoria.comor just email Bill and Dave.
Properties in Victoria Professionals™- Royal LePage Coast Capital Realty
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, the Island Road Racers and the Victoria Chamber of Commerce
Showing posts with label BC. Show all posts
Showing posts with label BC. Show all posts
Wednesday, 14 September 2011
Thursday, 25 August 2011
Luxury Real Estate Victoria BC - BCREA 3rd Quarter Housing Update
Moderate Growth in Housing Demand Through 2012
Vancouver, BC – August 25, 2011.The British Columbia Real Estate Association (BCREA) released its 2011 Third Quarter Housing Forecast Update today.
BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 3.8 per cent from 74,640 units in 2010 to 77,500 units this year, increasing a further 3.6 per cent to 80,300 units in 2012.“Slower than expected employment growth is expected to keep BC home sales below their ten-year average through 2012,” said Cameron Muir, BCREA Chief Economist. “However, weaker global economic growth and recent uncertainty in the equity markets points to continued low mortgage interest rates which will help underpin housing demand.”
“Following a decade where unit sales broke all records, consumer demand over the next few years will be relatively moderate,” added Muir. The ten-year BC MLS® residential sales average is 87,600 units. A record 106,300 MLS® residential sales were recorded in 2005.
For a PDF version of this news release, including data table, follow this link:
www.bcrea.bc.ca/news_room/2011-08-25Forecast.pdf.
If you are planning to purchase real estate in Victoria BC in the future, just let us know. Our team of professionals has the knowledge and the know how to meet your needs. Contact Bill at the Properties In Victoria Professional™ team. You can consult their Victoria Real Estate website www.PropertiesInVictoria.com or just email Bill
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, the Island Road Racers and the Victoria Chamber of Commerce
Sunday, 18 January 2009
BC Home Sales Decline by One Third in 2008
Victoria real estate sales declined in 2008 and so did the rest of the province. British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined 31 per cent to $31.3 billion in 2008, compared to 2007. Residential unit sales declined 33 per cent to 68,923 units last year, the lowest level since 2000, when 54,179 transactions were recorded. The average MLS® residential price in 2008 was $454,599, up 3.5 per cent from 2007.
“The housing market came in like a lion and went out like a lamb in 2008,” said Cameron Muir, BCREA Chief Economist. “Home prices reached a record high in March, but edged lower during the balance of the year.” The average residential sales price hit $483,291 in March and ended the year at $429,210, an 11 per cent decline in nine months.
“The global financial crisis, a sharp correction in the equity markets and a recessionary environment in Canada has wreaked havoc on consumer confidence,” added Muir. “While it’s difficult to predict when consumer confidence will strengthen, home affordability is quietly improving as lower prices and mortgage interest rates increase the buying power of BC households.”
December MLS® residential sales dollar volume in the province declined 52 per cent to $1.05 billion, compared to December 2007. Provincial MLS® sales were down 49 per cent to 2,456 units, while the average residential price declined 6 per cent to $429,210 over the same period.
For all the fine print and all the graphs turn your browser to BCREA’s website.
If you are planning to purchase real estate in 2009, just let us know. Our team of professionals has the knowledge and know how. Contact Bill or David at Properties In Victoria Professional™ team. You can consult their two Victoria Real Estate websites www.PropertiesInVictoria.com or www.PrestigiousPropertiesInVictoria.com or just email Bill and Dave .
Cheers,
Bill
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.
“The housing market came in like a lion and went out like a lamb in 2008,” said Cameron Muir, BCREA Chief Economist. “Home prices reached a record high in March, but edged lower during the balance of the year.” The average residential sales price hit $483,291 in March and ended the year at $429,210, an 11 per cent decline in nine months.
“The global financial crisis, a sharp correction in the equity markets and a recessionary environment in Canada has wreaked havoc on consumer confidence,” added Muir. “While it’s difficult to predict when consumer confidence will strengthen, home affordability is quietly improving as lower prices and mortgage interest rates increase the buying power of BC households.”
December MLS® residential sales dollar volume in the province declined 52 per cent to $1.05 billion, compared to December 2007. Provincial MLS® sales were down 49 per cent to 2,456 units, while the average residential price declined 6 per cent to $429,210 over the same period.
For all the fine print and all the graphs turn your browser to BCREA’s website.
If you are planning to purchase real estate in 2009, just let us know. Our team of professionals has the knowledge and know how. Contact Bill or David at Properties In Victoria Professional™ team. You can consult their two Victoria Real Estate websites www.PropertiesInVictoria.com or www.PrestigiousPropertiesInVictoria.com or just email Bill and Dave .
Cheers,
Bill
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.
Monday, 3 November 2008
Victoria BC Real Estate Update - Prestigiuos Property for Sale in the Great Victoria Area
We, the Properties in Victoria Professionals, are proud to announce another Hot Property for Sale in the Greater Victoria area.
One of Mill Spring's finest homes, this exceptional 3 level home sits high up on a .72 acre lot to take advantage of the panoramic ocean vistas highlighted by Mt Baker, Saltspring Island, Saanich Inlet & beyond. Long private driveway leads up through the lot to a huge triple garage and main level living featuring a wonderful kitchen and living room with high ceilings and massive windows to take in the views. Seperate formal dining room adjacent to main level family room too. Up are 3 well appointed bedrooms, [office on main could be 4th], & 2 ensuites, a second family room down. Lots of storage. Very private. Easy commute to either Duncan or Victoria. For more information on this home or any other MLS 0174 listing in the GReater Victoria area please visit our webiste http://www.propertiesinvictoria.com/ or contact us directly.
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.
Thursday, 9 October 2008
Victoria BC REal Estate Update - Victoria Prices Up Stay Steady
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.
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.
Friday, 12 September 2008
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 hereHarnessing 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 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.
Wednesday, 3 September 2008
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.
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.
Monday, 1 September 2008
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.
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.
Sunday, 24 August 2008
Victoria BC Luxury Real Estate - Hot New Property for Sale!
Properties in Victoria Professionals are proud present a wonderful Broadmead home!
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.For more information on this property or any othe property on the Victoria MLS® system please contact us at 250-920-7000 or at info@propertesinvictoria.com or visit our website http://www.prestigiouspropertiesinvictoria.com/
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.
Friday, 8 August 2008
Victoria BC Real Estate - July Shows Little Change
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 Summary
Victoria BC Real Estate Average Selling Price Graphs
Victoria BC Real Estate Active Listings, New Listings and Sales Graphs
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To Stay on top of the local Victoria Real Estate Market, subscribe to our free on line News Letter.
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.
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 Summary
Victoria BC Real Estate Average Selling Price Graphs
Victoria 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, free software download here.
To Stay on top of the local Victoria Real Estate Market, subscribe to our free on line News Letter.
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.
Wednesday, 30 July 2008
Victoria BC Real Estate - New Tools to Help Buyers Navigate Through Presales
Homebuyers are Given a New Tool to Help Them With Presales of Real Estate
Buying real estate can be very stressful for many people and buying real estate that has not yet been built can be even more stressful. It also come with some risks. The disclosure statement that the developer gives you, most of the time allows the developer to do changes, and even cancel the project if they do not get enough presales. We always recommend that you have your lawyer read the disclosure statement and discuss the details with you.
This applies to all types of real estate that is presold; from a small bachelor suite to a prestigious penthouse, so talk to us or your favourite lawyer before taking the plunge.
The British Columbia Real Estate Association (BCREA), the Canadian Home Builders’ Association of BC (CHBA BC) and the Urban Development Institute (UDI) are pleased to introduce a new tool to assist homebuyers in the purchase of homes under development, also known as presales.
“Over the years, thousands of British Columbians have entered into contracts to buy new homes before the construction of their homes had begun or during the construction period,” said BCREA President Scott Veitch. “The Presale Cross Reference List helps ensure homebuyers are aware of the unique considerations involved in purchasing these properties.”
The Presale Cross Reference List is intended as a starting point for homebuyers to determine whether enquiries, advice or clarification is needed when navigating the purchase of a home in a multifamily development under construction. Buyers unfamiliar with such projects may require extensive consultation with knowledgeable professionals who have experience with presale investments.“Presales are an excellent vehicle for purchasers to buy a new home and often result in cost savings for the purchaser. However, as with any investment, consumers need to understand what the opportunities and risks are to make an informed decision,” said Maureen Enser, UDI Executive Director.
“CHBA BC is pleased to partner with BCREA and UDI and be a part of this great tool that will assist REALTORS® in disseminating reliable information about presales to consumers who purchase products that our members build,” added M.J. Whitemarsh, CHBA BC Chief Executive Officer. “This joint effort is the culmination of extensive work by industry to enhance consumer confidence and further raise the bar of professionalism within residential construction.”
For the complete article please folow this link: http://www.bcrea.bc.ca/news_room/2008-07-24Presales.pdf.
If you are thinking of buying into the presale market in Victoria or have questions in general about real estate in Victoria Bc please do not hesitate 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.
Buying real estate can be very stressful for many people and buying real estate that has not yet been built can be even more stressful. It also come with some risks. The disclosure statement that the developer gives you, most of the time allows the developer to do changes, and even cancel the project if they do not get enough presales. We always recommend that you have your lawyer read the disclosure statement and discuss the details with you.
This applies to all types of real estate that is presold; from a small bachelor suite to a prestigious penthouse, so talk to us or your favourite lawyer before taking the plunge.
The British Columbia Real Estate Association (BCREA), the Canadian Home Builders’ Association of BC (CHBA BC) and the Urban Development Institute (UDI) are pleased to introduce a new tool to assist homebuyers in the purchase of homes under development, also known as presales.
“Over the years, thousands of British Columbians have entered into contracts to buy new homes before the construction of their homes had begun or during the construction period,” said BCREA President Scott Veitch. “The Presale Cross Reference List helps ensure homebuyers are aware of the unique considerations involved in purchasing these properties.”
The Presale Cross Reference List is intended as a starting point for homebuyers to determine whether enquiries, advice or clarification is needed when navigating the purchase of a home in a multifamily development under construction. Buyers unfamiliar with such projects may require extensive consultation with knowledgeable professionals who have experience with presale investments.“Presales are an excellent vehicle for purchasers to buy a new home and often result in cost savings for the purchaser. However, as with any investment, consumers need to understand what the opportunities and risks are to make an informed decision,” said Maureen Enser, UDI Executive Director.
“CHBA BC is pleased to partner with BCREA and UDI and be a part of this great tool that will assist REALTORS® in disseminating reliable information about presales to consumers who purchase products that our members build,” added M.J. Whitemarsh, CHBA BC Chief Executive Officer. “This joint effort is the culmination of extensive work by industry to enhance consumer confidence and further raise the bar of professionalism within residential construction.”
For the complete article please folow this link: http://www.bcrea.bc.ca/news_room/2008-07-24Presales.pdf.
If you are thinking of buying into the presale market in Victoria or have questions in general about real estate in Victoria Bc please do not hesitate 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.
Thursday, 10 July 2008
Victoria BC Real Estate - Canadian Government Changes Some lending Practices
Canadian Housing and Mortgage Corp adjust long term mortgages to protect the housing market.
The Government of Canada announced yesterday adjustments to the rules for government guaranteed mortgages aimed at protecting and strengthening the Canadian housing market. The new measures include:
Fixing the maximum amortization period for new government-backed mortgages to 35 years;
Requiring a minimum down payment of five per cent for new government-backed mortgages;
Establishing a consistent minimum credit score requirement; and
Introducing new loan documentation standards.
Yesterday's announcement marks a responsible and measured approach by the Government to ensure Canada’s housing market remains strong and to reduce the risk of a U.S.-style housing bubble developing in Canada.
The new limits are planned to take effect October 15, 2008. This would allow existing mortgage pre-approvals with the common 90-day duration to be used or expire. Certain exceptions would also be permitted after October 15. The Government will work closely with all stakeholders to ensure timely and effective implementation of these measures.
As these measures relate only to new, government-backed insured mortgages, Canadians who already hold mortgages will not be affected by this announcement.
The measures announced today will build on the strength of Canada’s housing market. According to the International Monetary Fund, the increase in house prices in Canada is based on sound economic factors such as low interest rates, rising incomes and a growing population. A recent Statistics Canada report concluded that home ownership is at record levels, with over two-thirds of Canadians owning their own home.
Mortgage arrears—overdue mortgage payments—have also remained low. In recent years, the percentage of mortgages in arrears for three months or more continues to be at low levels not seen since 1990.
For more information the real estate market in Victoria BC feel free to contact us at 250-920-7000 or through our website www.PropertiesinVictoria.com
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.
The Government of Canada announced yesterday adjustments to the rules for government guaranteed mortgages aimed at protecting and strengthening the Canadian housing market. The new measures include:
Fixing the maximum amortization period for new government-backed mortgages to 35 years;
Requiring a minimum down payment of five per cent for new government-backed mortgages;
Establishing a consistent minimum credit score requirement; and
Introducing new loan documentation standards.
Yesterday's announcement marks a responsible and measured approach by the Government to ensure Canada’s housing market remains strong and to reduce the risk of a U.S.-style housing bubble developing in Canada.
The new limits are planned to take effect October 15, 2008. This would allow existing mortgage pre-approvals with the common 90-day duration to be used or expire. Certain exceptions would also be permitted after October 15. The Government will work closely with all stakeholders to ensure timely and effective implementation of these measures.
As these measures relate only to new, government-backed insured mortgages, Canadians who already hold mortgages will not be affected by this announcement.
The measures announced today will build on the strength of Canada’s housing market. According to the International Monetary Fund, the increase in house prices in Canada is based on sound economic factors such as low interest rates, rising incomes and a growing population. A recent Statistics Canada report concluded that home ownership is at record levels, with over two-thirds of Canadians owning their own home.
Mortgage arrears—overdue mortgage payments—have also remained low. In recent years, the percentage of mortgages in arrears for three months or more continues to be at low levels not seen since 1990.
For more information the real estate market in Victoria BC feel free to contact us at 250-920-7000 or through our website www.PropertiesinVictoria.com
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.
Friday, 27 June 2008
Victoria BC Real Estate - Prestigiuos New Property
We, the Properties in Victoria Professionals, are proud to anounce another Prestigious listing in Victoria BC.
Large contemporary townhome in the heart of James Bay in Victoria BC! Two bedroom, Three Bathroom measuring over 1400 sqft . This townhome has had extensive upgrades throughout including natural birch hardwood floor in the kitchen, dining, and living room. Large designer kitchen with granite countertops, stainless steel appliance package with gas range, and sound system wired throughout. Ensuite features a Jacuzzi tub and separate shower with Limestone counters, and heated tile. Attached double car garage! Steps to the water and minutes from downtown!
For more information on the the Prestigious Property in Victoria BC or anyoher listing in the Greater Victoria are please feel free to contact us at 250-920-7000 or at Properties in Victoria Professionals
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.
Large contemporary townhome in the heart of James Bay in Victoria BC! Two bedroom, Three Bathroom measuring over 1400 sqft . This townhome has had extensive upgrades throughout including natural birch hardwood floor in the kitchen, dining, and living room. Large designer kitchen with granite countertops, stainless steel appliance package with gas range, and sound system wired throughout. Ensuite features a Jacuzzi tub and separate shower with Limestone counters, and heated tile. Attached double car garage! Steps to the water and minutes from downtown!For more information on the the Prestigious Property in Victoria BC or anyoher listing in the Greater Victoria are please feel free to contact us at 250-920-7000 or at Properties in Victoria Professionals
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.
Monday, 23 June 2008
Victoria BC - Real Estate Update: Highers Costs Affecting the Real Estate Market
Fuel and Food Prices Impacting Real Estate.
As gasoline prices continues to rise, driving up the costs of food and other staple products discretionary buying will slow, and we are starting to see it. Car sales are falling and now it looks like secondary/vacation homes are starting to take a hit. In Victoria BC we are seeing a definite slow down in the market, but feel with such a strong economy and a very desirable place to live the slow down will be limited. Please read the article below from Cam Muir the BC Real Estate Association chief economist.
British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined 27 per cent to $3.85 billion in May, compared to May 2007. Residential unit sales fell 31 per cent to 8,101 units during the same period. The average MLS® residential price in the province reached $475,656, up 6 per cent from May 2007.
“Rising fuel and food prices are impacting the housing market, as many potential homebuyers take a wait and see approach out of concern for their household budgets,” said Cameron Muir, BCREA Chief Economist.
While BC has one of the best performing economies in the country, slower economic growth and a spate of bad news stemming from the US housing recession is also eroding consumer confidence, causing some consumers to delay major purchases.
“Despite strong demographic fundamentals, amenity markets in the province are bearing the brunt of reduced demand as second home purchases by recreation and investor buyers are more easily delayed,” added Muir. “However, higher inventory levels may soon edge lower as homes priced in relation to the accelerating conditions of the past are either pulled off the market or re-priced and sold according to today’s market realities.” For the remainder of the article please log onto http://www.bcrea.bc.ca/news_room/2008-05.pdf
Please contact us if you would like more information on the market here in Victoria BC and visit our website and log onto Victoria Market update to stay informed on current trends.
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.
As gasoline prices continues to rise, driving up the costs of food and other staple products discretionary buying will slow, and we are starting to see it. Car sales are falling and now it looks like secondary/vacation homes are starting to take a hit. In Victoria BC we are seeing a definite slow down in the market, but feel with such a strong economy and a very desirable place to live the slow down will be limited. Please read the article below from Cam Muir the BC Real Estate Association chief economist.
British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined 27 per cent to $3.85 billion in May, compared to May 2007. Residential unit sales fell 31 per cent to 8,101 units during the same period. The average MLS® residential price in the province reached $475,656, up 6 per cent from May 2007.
“Rising fuel and food prices are impacting the housing market, as many potential homebuyers take a wait and see approach out of concern for their household budgets,” said Cameron Muir, BCREA Chief Economist.
While BC has one of the best performing economies in the country, slower economic growth and a spate of bad news stemming from the US housing recession is also eroding consumer confidence, causing some consumers to delay major purchases.
“Despite strong demographic fundamentals, amenity markets in the province are bearing the brunt of reduced demand as second home purchases by recreation and investor buyers are more easily delayed,” added Muir. “However, higher inventory levels may soon edge lower as homes priced in relation to the accelerating conditions of the past are either pulled off the market or re-priced and sold according to today’s market realities.” For the remainder of the article please log onto http://www.bcrea.bc.ca/news_room/2008-05.pdf
Please contact us if you would like more information on the market here in Victoria BC and visit our website and log onto Victoria Market update to stay informed on current trends.
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.
Friday, 6 June 2008
Greater Victoria Real Estate - Buyers Have More Real Estate Options
Great Victoria Area has more Choices for Buyers of Real Estate
With a return to a balanced real estate market, home buyers in the Victoria area now have a much larger pool of properties from which to choose. The number of properties available for sale increased to 4,332 in May - a 25 % increase over the same month a year ago and the highest level since June 1998.
Victoria Real Estate Board President, notes that despite this increase, prices and sales remain stable although the number of sales is down compared to a year ago. "There was a total of 770 sales of homes and other properties in May through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), virtually unchanged from the 768 sales in April but down from the 963 sales in May of last year." The board noted that a significant number of new properties came on the market last month: "There were 1,850 new listings in May - the highest number for a single month in over 18-years". The board added that 24 sales over $1 million had an impact on the overall average price of single family homes in Greater Victoria which last month was $601,897; the six-month average was $606,985 though median was considerably lower at $545,000. There were also three sales on the Gulf Islands of over $1 million.
The average price of all condominiums sold in May was $336,157; the average for the last six months was $333,208. The median was again lower at $295,500. The average price of all townhomes sold last month was $435,058; the six month average was $433,854. The median price was $394,900.
MLS® sales last month included 470 single family homes, 168 condominiums, 71 townhomes and 25 manufactured homes.
Summary Report and Graphs
Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs
For more information on the real estate here in Victoria please feel free to contact the Properties in Victoria Professionals team
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.
With a return to a balanced real estate market, home buyers in the Victoria area now have a much larger pool of properties from which to choose. The number of properties available for sale increased to 4,332 in May - a 25 % increase over the same month a year ago and the highest level since June 1998.
Victoria Real Estate Board President, notes that despite this increase, prices and sales remain stable although the number of sales is down compared to a year ago. "There was a total of 770 sales of homes and other properties in May through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), virtually unchanged from the 768 sales in April but down from the 963 sales in May of last year." The board noted that a significant number of new properties came on the market last month: "There were 1,850 new listings in May - the highest number for a single month in over 18-years". The board added that 24 sales over $1 million had an impact on the overall average price of single family homes in Greater Victoria which last month was $601,897; the six-month average was $606,985 though median was considerably lower at $545,000. There were also three sales on the Gulf Islands of over $1 million.
The average price of all condominiums sold in May was $336,157; the average for the last six months was $333,208. The median was again lower at $295,500. The average price of all townhomes sold last month was $435,058; the six month average was $433,854. The median price was $394,900.
MLS® sales last month included 470 single family homes, 168 condominiums, 71 townhomes and 25 manufactured homes.
Summary Report and Graphs
Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs
For more information on the real estate here in Victoria please feel free to contact the Properties in Victoria Professionals team
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.
Wednesday, 28 May 2008
Victoria BC - Real Estate: Billion Dollar Colwood Development Receives City Approval to Move Forward
There is some feeling out there with regards to a downturn in new construction; however, you may want to rethink that position if you are holding this position. The city of Colwood about 15 minutes from Victoria has given approval for a billion dollar development. For further information please read the article below from Tartan Publications.
Victoria, British Columbia - The City of Colwood has given fourth and final reading of a bylaw which will permit City Centre Colwood, the $1-billion development on 13 acres on the West Shore of Vancouver Island, to proceed. The project when completed will include over 3.5 million square feet of commercial, residential and amenity space and will give the region a new city centre."City Centre Colwood will be a contemporary work and live place on a scale never before achieved in the Greater Victoria area," said developer Les Bjola of Turner Lane Development Corporation. "It will have a significant impact on economic growth in the region, attracting new companies and residents from across our country and others. We plan to achieve the highest standards in social, economic and environmental sustainability in this progressive new community."
When completed, the development will include new office and residential buildings, a shopping, dining and entertainment district, and substantial underground parking. The on-site work/live population will have easy access to public transportation, pedestrian ways and major highways.
"Our goal is to create a modern, urban centre which will meet the needs of the community and the growing interest in the West Shore - something of which we can all be proud," said Les Bjola. "We already know people want the type of lifestyle Island-living provides, and attracting new companies will bring the employment opportunities which will allow people to live, work and play here."
The development will include a mix of low and high-rise buildings, which will be built in phases with construction expected to start early next year.
"We are experiencing a great deal of interest in this project from British Columbia and beyond," said Adam Gant, CEO of League Assets, the company managing the financing for the development. "The vision for this project is spectacular and investors are recognizing long-term benefit of doing something different in this community."
Over the past 18 months, Bjola and his project team have undertaken an intensive public consultation process to gather input from community members and stakeholders that included surveys, open houses and public meetings. The culmination of this process was the final approval of the bylaw by the City of Colwood council last night.
For more information on real estate in the Great Victoria area please do not hesitate to contact us
CheersBill
Bill EthierB.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.
Monday, 26 May 2008
Exlusive Luxury Real Estate Victoria BC
We, at the Properties in Victoria Professionals team our proud to bring you another fabulous property!
Exlusively for you! It is almost upon us, Victoria's most prestigious downtown residence - the ARIA. Located on the fringes of the heart of the city. This south facing home is a magnificent 2 bedroom 2 bathroom unit with over 1200sqft of living. No other residence will be as convenient to the pulse of the city center, situated mere steps away from museums, shopping, fine dining, parks and Victoria's picturesque inner harbour. Special attention has been paid to every detail. GST not included. This is an Assignment of a Contract.For more information on the property or any other real estate in Victoria BC please do not hesitate to contact us
Bill EthierB.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.
Thursday, 8 May 2008
Victoria BC - Hot New Real Estate
We the Properties in Victoria team are proud to announce another prestigious condo for sale in the heart of the city. This superb 2 bedroom 2 bathroom condo is located in the Prestigious Belvedere. For more infromation see below:
Upscale condo at The Belvedere! Downtown living at its best! No other building compares. Developed by Concert Properties, Georgie Awards® 2007 Finalists for Best Multi-Family Development (High- Rise). Finest standards of construction. High ceilings, granite counter tops, teak floors, maple shaker cabinetry, stainless appliances. Corner suite with views of the water and Sooke Hills. Floor plans availableShow All Available Photos
If you would like more information on this property, such as virtual tours or floor plans please visit our webiste www.PropertiesinVictoria.com or any other property in the Greater Victoria area please dot hesitate to contact us.
Cheers
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.
Sunday, 4 May 2008
Victoria BC - Victoria Real Estate Sets Another Record
The Greater Victoria set another record price for Single Family Homes. The average price has now surpassed the $630,000 dollar mark. Where is going to go from here? Please read the article below from the Victoria Real Estate Board:
Sales of homes and other properties in the Victoria area moderated in April with a total of 768 sales through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), up from 707 sales in March but down from the 898 sales in the same month a year ago. Overall prices remain steady but 28 sales of over $1 million, including two sales in Oak Bay of over $2 million, pushed the average price of single family homes to a new record high.
Victoria Real Estate Board President, Tony Joe, notes that the number of properties available for sale continues to increase. "In April, there were 3,859 properties available for sale - a 17 per cent increase over the 3,305 properties on the market in April of 2007. This increase in inventory coupled with a moderation in the number of sales offers further indication of a more balanced market that offers stability for both buyers and sellers."
Joe added that despite the record high average price for single family homes, overall prices remained steady last month. "The relatively large number of high-priced sales had a substantial impact on the average price of single family homes in Greater Victoria, pushing this figure to a new record high of $630,295 but it is important to note that the median or mid-range price was substantially lower at $558,000." Joe noted that nearly 28% of single family homes last month sold for under $475,000.
The average price of all condominiums sold in April was $325,975; the average for the last six months was $328,915. The median was again lower at $294,900. The average price of all townhomes sold last month was $420,658; the six month average was $440,364. The median price was $407,450.
MLS® sales last month included 395 single family homes, 235 condominiums, 80 townhomes and 20 manufactured homes.
Summary Report and Graphs
Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs
If you have any questions about the market or would like to discuss the buying and or selling process feel free to conact us. We would love to help. Also for more Real Estate news visit our website: www.PropertiesinVictoria.com and log onto Quarterly Report or Victoria Market Update
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.
Sales of homes and other properties in the Victoria area moderated in April with a total of 768 sales through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), up from 707 sales in March but down from the 898 sales in the same month a year ago. Overall prices remain steady but 28 sales of over $1 million, including two sales in Oak Bay of over $2 million, pushed the average price of single family homes to a new record high.
Victoria Real Estate Board President, Tony Joe, notes that the number of properties available for sale continues to increase. "In April, there were 3,859 properties available for sale - a 17 per cent increase over the 3,305 properties on the market in April of 2007. This increase in inventory coupled with a moderation in the number of sales offers further indication of a more balanced market that offers stability for both buyers and sellers."
Joe added that despite the record high average price for single family homes, overall prices remained steady last month. "The relatively large number of high-priced sales had a substantial impact on the average price of single family homes in Greater Victoria, pushing this figure to a new record high of $630,295 but it is important to note that the median or mid-range price was substantially lower at $558,000." Joe noted that nearly 28% of single family homes last month sold for under $475,000.
The average price of all condominiums sold in April was $325,975; the average for the last six months was $328,915. The median was again lower at $294,900. The average price of all townhomes sold last month was $420,658; the six month average was $440,364. The median price was $407,450.
MLS® sales last month included 395 single family homes, 235 condominiums, 80 townhomes and 20 manufactured homes.
Summary Report and Graphs
Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs
If you have any questions about the market or would like to discuss the buying and or selling process feel free to conact us. We would love to help. Also for more Real Estate news visit our website: www.PropertiesinVictoria.com and log onto Quarterly Report or Victoria Market Update
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.
Sunday, 20 April 2008
Victoria BC Real Estate First Quarter update - Housing Market to Remain Strong
The Victoria Real Estate market has been very busy for us over the last few weeks. We have many new listings coming to the market and there are some good deals to be had out there.
British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC dipped 1.8 per cent to $8.9 billion during the first quarter, compared to the same period in 2007. Residential unit sales declined 13.5 per cent to 18,635 units during the same period. The average MLS® residential price in the province reached $478,423, up 13.5 per cent from the first quarter of 2007.
“The housing market lost some steam during the first quarter,” said Cameron Muir, BCREA Chief Economist. “Eroding affordability has squeezed some potential buyers out of the market, while uncertainty about the duration and impact of a weak US economy and housing recession likely has some consumers sitting on the sidelines.”
“Despite weakness in the forest sector, economic fundamentals in the province remain strong and continue to underpin housing demand,” added Muir. “A 25 per cent increase in the number of homes for sale is providing home buyers with more selection and reducing the chances of competing bids on the same property.”
March MLS® residential sales volume fell 12.4 per cent to $3.48 billion compared to March 2007. Residential unit sales declined 22 per cent to 7,128 units in March, while the average MLS® residential price increased 12.3 per cent to $488,796 compared to March 2007.
For more information on the Victoria real estate market please 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.
British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC dipped 1.8 per cent to $8.9 billion during the first quarter, compared to the same period in 2007. Residential unit sales declined 13.5 per cent to 18,635 units during the same period. The average MLS® residential price in the province reached $478,423, up 13.5 per cent from the first quarter of 2007.
“The housing market lost some steam during the first quarter,” said Cameron Muir, BCREA Chief Economist. “Eroding affordability has squeezed some potential buyers out of the market, while uncertainty about the duration and impact of a weak US economy and housing recession likely has some consumers sitting on the sidelines.”
“Despite weakness in the forest sector, economic fundamentals in the province remain strong and continue to underpin housing demand,” added Muir. “A 25 per cent increase in the number of homes for sale is providing home buyers with more selection and reducing the chances of competing bids on the same property.”
March MLS® residential sales volume fell 12.4 per cent to $3.48 billion compared to March 2007. Residential unit sales declined 22 per cent to 7,128 units in March, while the average MLS® residential price increased 12.3 per cent to $488,796 compared to March 2007.
For more information on the Victoria real estate market please 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.
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