Real Estate Information Archive

Month to Date Numbers

Monday, July 12, 2010

by Rob Cvitanovic

Month-to-Date Market Statistics from July 1 - July 12 2010:

	MTD	July
	2010	2009
Net Unconditional Sales:	155	933
New Listings:	399	1,357
Active Listings:	4,428	3,632

Please Note

Left Column: stats so far this month
Right Column: stats for the entire month from last year

The 1st two weeks of July indicate a "cooling" trend in sales, in comparison to the same period last year. At this same time last year, we had 360 pending/closed sales of the first 12 days of June. This translates to a drop of 55% in the number of homes sold for the first 12 days of July 2010.

On the flip side, the number of new active listings for this same 12 day period is also less than that of last year. A year ago there where 515 new listings that came onto the market between July 1 - July 12, 2009, while this year there were only 399 new listings during July 1 - July 12, 2010. This amounts to a drop in inventory of 22.5%

However, when we look at the bigger picture, the year to date indicates that we are definitely in a buyer's market. The number of active listings this year-to-date is up over 22% over the same time period last year, and we are on pace to reach 465 sales for the month. Based on these numbers we are expected to have a 9 month supply of homes on the market, which translates to some better prices and better buys for those considering purchasing real estate.

If you have any real estate related questions, or wish to find out what your property is worth in today's market, give us a call at (250) 704-6970. We'd be more than happy to assist you in any way.

victoria real estate statistics listings sales monthly statistics inventory victoria real estate board

Month to Date Numbers

Monday, July 12, 2010

by Rob Cvitanovic

Month-to-Date Market Statistics from July 1 - July 12 2010:

	MTD	July
	2010	2009
Net Unconditional Sales:	155	933
New Listings:	399	1,357
Active Listings:	4,428	3,632

Please Note

Left Column: stats so far this month
Right Column: stats for the entire month from last year

The 1st two weeks of July indicate a "cooling" trend in sales, in comparison to the same period last year. At this same time last year, we had 360 pending/closed sales of the first 12 days of June. This translates to a drop of 55% in the number of homes sold for the first 12 days of July 2010.

On the flip side, the number of new active listings for this same 12 day period is also less than that of last year. A year ago there where 515 new listings that came onto the market between July 1 - July 12, 2009, while this year there were only 399 new listings during July 1 - July 12, 2010. This amounts to a drop in inventory of 22.5%

However, when we look at the bigger picture, the year to date indicates that we are definitely in a buyer's market. The number of active listings this year-to-date is up over 22% over the same time period last year, and we are on pace to reach 465 sales for the month. Based on these numbers we are expected to have a 9 month supply of homes on the market, which translates to some better prices and better buys for those considering purchasing real estate.

If you have any real estate related questions, or wish to find out what your property is worth in today's market, give us a call at (250) 704-6970. We'd be more than happy to assist you in any way.

victoria real estate statistics listings sales monthly statistics inventory victoria real estate board

Victoria Housing Market Gains Strength

Monday, June 01, 2009

by source: Victoria Real Estate Board

June 1, 2009

The Greater Victoria area housing market gained additional strength last month with a significant increase in sales along with firm prices. A total of 879 homes and other properties sold in May through the Victoria Real Estate Board's Multiple Listing Service® (MLS®), up 17 per cent from the 747 sales in April and up 14 per cent compared to the 770 sales in May of last year. Prices for single family homes and condominiums were up slightly while townhome prices showed little change.

Victoria Real Estate Board President, Chris Markham, says there is every indication the rebound in the market will continue in the months ahead, "For the past two months sales have been higher than in the same months a year ago and prices appear to be strengthening in key sectors." Markham noted that the number of properties available for sale dropped last month. In addition, continuing attractive interest rates and growing consumer confidence are helping to fuel activity which is particularly strong in the mid-price range. "Over half of the single family homes sold last month were priced between $400,000 and $600,000." There were 33 sales of single family homes over $1 million including six on the Gulf Islands. There were 3,789 properties available for sale at the end of May, down 13 per cent from the 4,332 properties available in the same month a year ago.

The average price for single family homes sold in Greater Victoria last month was $573,442, up from $550,736 in April. The median price also rose to $525,000. The six-month average was $550,756. The overall average price for condominiums was $306,971 last month, up from $292,252 in April. The average for the last six months was $292,766. The median price for condominiums rose in May to $279,500. The average price of all townhomes sold last month was $400,788, virtually unchanged from $400,695 in April. The median price dropped slightly to $375,000. The six month average was $397,224.

MLS® sales last month included 514 single family homes, 223 condominiums, 88 townhomes and eight manufactured homes.