Real Estate sales of homes and other properties in the Greater Victoria area soared 20 percent in October compared to the same month a year ago. There were 708 sales through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) in October. This is up about 20% from the 590 sales in October of 2006. In September of this year we had 632 sales. Meantime, prices for single family homes moderated somewhat while prices for condominiums and town-homes showed little change.
The strong sales statistics and stable prices show continued consumer confidence in the Victoria Real Estate Market. Sales last month were the highest for October since 2003 and so far this year sales are running nearly 13 per cent higher than the first 10 months of 2006. What is the norm for this time of year? Well, it’s normal for overall prices to fluctuate on a month-to-month basis depending on the properties that sell in a given month. While the average price of single family homes moderated slightly last month, the overall average price so far this year is over seven percent higher than at the end of last year.
Single Family Homes
The average price of single family homes sold in October was $556,222; the six-month average for single family homes was $570,454. The median price was considerably lower at $495,000.
The average price of all condominiums sold in October was $343,334; the average for the last six months was $321,993. The median was again lower at $291,000.
The average price of all town-homes sold last month was $407,031; the six month average was $404,163. The median price was $369,950.
MLS® sales in October included 375 single family homes, 196 condominiums, 79 town-homes and 22 manufactured homes.
There were 3,311 properties listed for sale on the MLS® system at the end of last month, down slightly from the 3,426 properties in the same month a year ago.
If you have any questions about Victoria Real Estate in General, you can contact us anytime.
Anders Treiberg, Associate Broker, REALTOR®
Properties in Victoria Professionals – Royal LePage Coast Capital.All Articles More Like This