Victoria Real Estate Average $606,449
Victoria Real Estate sales in the Greater Victoria area got off to a solid start in the first month of 2008. There were 464 sales through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) in January, up from the 442 sales in the same month a year ago. There were 408 sales in December. Meantime, the total number of properties available for sale rose to 3,027. This is a 14 per cent increase over January of last year (2007).
The Victoria Real Estate market remains very healthy and the strong sales and increase in inventory represent good news for both sellers and buyers. There is a strong demand for homes that are realistically priced and the increase in the number of properties available for sale means more choice for buyers. It should be noted that nearly 29 per cent of single family homes sold for less than $450,000 last month while nearly 37 per cent of all condominiums sold for under $275,000 in January.
There was 19 sales of over $1 million had an upward impact on the average price of single family homes. This is becoming more and more common and we are showing homes over a million more and more often. The Luxury Real Estate Market is in demand.
The average price of single family homes sold in January in Greater Victoria Real Estate Boundery was $606,449. The median price was lower at $530,200. If we look back over the last six month, the average for single family homes was $586,338.
The average price of all condominiums sold in January was $349,045, and the six month average was $326,904. The median was of course again lower at $304,450. The average price of all townhomes was $423,774, with a six month average of $419,926 and a median price of $392,950. Total MLS® sales last month in the Greater Victoria Real Estate Boundary included 249 single family homes, 125 condominiums, 43 town-homes and 16 manufactured homes.
Summary Report and Graphs
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PS. We have launched a new website that focus on higher end properties, check it out at www.PrestigiousPropertiesInVictoria.com and our Prestigious blog at http://prestigiouspropertiesinvictoria.blogspot.com/
Anders Treiberg, Associate Broker, REALTOR®
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