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 available
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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

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.

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.

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.

Victoria Real Estate - More Properties for Sale in Victoria BC

Real estate buyers in the Victoria area have a growing number of properties from which to choose. The total number of properties available for sale rose to 3,591 in March - a 17 per cent increase over March of last year. Victoria Real Estate Board President, Tony Joe, says the return to a balanced market is good news for both buyers and sellers. "With more properties available for sale, buyers now have a greater choice, but the continued demand for homes and steady prices mean sellers can anticipate strong interest in properties that are realistically priced." There were 707 sales through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) in March, down from the 833 sales in the same month a year ago but up 14 per cent from the 619 sales in February.

Joe added that prices remained steady last month, "Twenty-eight per cent of single family homes sold for under $450,000 while nearly 36 per cent of condominiums sold for under $275,000." At the higher end of the market, Joe noted that there were 20 sales in Greater Victoria and two sales on the Gulf Islands of over $1 million.

The average price of single family homes sold in March in Greater Victoria was $597,176; the median price was lower at $529,625. The six-month average for single family homes was $591,439. The average price of all condominiums sold in March was $328,734; the average for the last six months was $332,552. The median was again lower at $300,000. The average price of all townhomes sold last month was $458,378; the six month average was $437,523. The median price was $411,500.

MLS® sales last month included 407 single family homes, 170 condominiums, 68 townhomes and 16 manufactured homes.

For more information on these statistics feel free to contact us of visit www.PropertiesinVictoria.com and click on Victoria Real Estate Market Update.

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.