Although the 2010 Winter Olympics were creating quite the stir in Vancouver, it was our real estate market in Victoria that was "Going for Gold" here on the island.

A total of 621 homes and other properties sold in February through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), up from the 418 sales in January and 403 sales in February of last year.  Prices for single-family homes and condominiums softened somewhat while prices for townhomes rose slightly.

According to the Victoria Real Estate Board, sales have now returned to historically more normal levels,  as a year ago the market was just beginning to emerge from the economic downturn. The number of properties available for sale again increased last month - there were 3,280 properties available for sale - up from 2,793 at the end of January but still down slightly from 3,844 properties for sale at the end of February a year ago.

The average price for single-family homes sold in Greater Victoria last month was $620,833 down from $644,678 in January. The median price also declined to $560,950. The six-month average was $620,174. There were 20 sales of over $1 million, including one sale on the Gulf Islands for over $2.5 million. The overall average price for condominiums was $304,163 last month, down from $313,337 in January. The average for the last six months was $320,376. The median price for condominiums in February declined to $285,000. The average price of all townhomes sold last month was $460,900 up from $453,013 in January. The median price rose to $430,000. The six month average was $453,440.

MLS® sales last month included 296 single family homes, 192 condominiums, 78 townhomes and 14 manufactured homes.

Call Rob Cvitanovic (sit`an`oh`vik)...your local real estate expert, if you or anyone you know is thinking about buying or selling any residential or commercial real estate.

Rob  Cvitanovic (sit`an`oh`vik)...The Experience Will Move You!

Keller Williams Realty West

Office:(250) 595-3200   Cell: (250) 704-6970