Rob Cvitanovic's Bloghttp://www.robsoldit.com/blogVictoria BC real estate market news provided by Keller Williams Realty WestThu, 01 Apr 2010 13:46:00 GMTAugust Was Not So HotThe Greater Victoria real estate market has softened in the month of August as a result of fewer sales & a decline in overall prices for single family homes and condominiums. However, the overall prices for townhomes rose in August.

A total of 425 properties sold in August via the Victoria Real Estate Board’s MLS, slightly down from the 527 sales in July. In comparison, there were 764 sales for the month of August in 2009. Softening of the sales this year was not unexpected, given that 2009 was an exceptional year. 

The outlook for the remainder of the year is that we anticipate the market to remain relatively stable; as any increase in interest rates in the near future will likely be modest.

The number of properties available for sale at the end of last month declined to 4,356 but this was still 24 per cent higher compared to the 3,509 available properties in August of last year.

The average price for single-family homes sold in Greater Victoria last month was $586,676 down from $615,004 in July. The median price declined to $548,500. The six-month average declined slightly to $629,272. There were eight single family home sales of over $1 million in August compared to 16 such sales the previous month. The overall average price for condominiums was $320,874 last month, down from $322,905 in July. The average for the last six months was $330,234. The median price for condominiums in August declined to $275,000. The average price of all townhomes sold last month, however, rose to $432,284 from $420,578 in July. The median price rose to $405,000. The six month average was $439,636.

MLS® sales last month included 223 single family homes, 113 condominiums, 43 townhomes and 15 manufactured homes.

]]>http://www.robsoldit.com/Blog/August-Was-Not-So-Hothttp://www.robsoldit.com/Blog/August-Was-Not-So-HotWed, 01 Sep 2010 15:24:00 GMTWill the Fall Market Heat Up?Here are the latest month-to-date stats for the Victoria Housing Market.
The summer has definitely been a cool one, while this trend continue... stay tuned 
Month-to-Date Market Statistics
Posted on Monday, August 30, 2010 8:30am:

  MTD August
  2010 2009
Net Unconditional Sales: 396 764
New Listings: 877 1,094
Active Listings: 4,254 3,509

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

    Whether you are thinking about buying or selling real estate in greater Victoria, call the local market specialists. We guarantee, in writing, that all our sellers will recieve top dollar  for their properties.  As representatives for our buyers, we guarantee the best price and terms for your purchase. Call us about our all our unique buyer and seller programs at (250) 595-3200

     

     Rob Cvitanovic (sit`an`oh`vik)

    The Victoria Home Team

    Keller Williams Realty West

    (250) 704-6970

    rob@robsoldit.com

     

    ps. ***Get Priority Access to Hot New Listings Just Like Realtors Do, So You DON'T Miss Out On the Perfect Home;
         ***Receive Lists of Foreclosures, Distress Sales, Company Owned Properties, Estate Sales, Fixer Uppers and MORE!
         ***Find Out What the Home Down The Street Sold For or Get a Free No Obligation Over-the-Net Home Evaluation; go to:     www.robsoldit.com

     

]]>http://www.robsoldit.com/Blog/Will-the-Fall-Market-Heat-Uphttp://www.robsoldit.com/Blog/Will-the-Fall-Market-Heat-UpMon, 30 Aug 2010 13:45:00 GMTStats for July 2010Greater Victoria home buyers have a growing number of properties from which to choose, as inventory levels rose to 4,477 properties available for sale at the end of June - up 23 percent from the 3,632 available properties a year earlier.

For the 2nd consecutive month sales have softened while overall prices showed little change.

Here are the July month-end market statistics posted as of Aug. 02, 2010  9:20am:

  July July
  2010 2009
Net Unconditional Sales: 527 933
New Listings: 1,119 1,357
Active Listings: 4,477 3,632


Please Note

  • Left Column: stats for the entire month from this year
  • Right Column: stats for the entire month from last year
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.
]]>http://www.robsoldit.com/Blog/Stats-for-July-2010http://www.robsoldit.com/Blog/Stats-for-July-2010Tue, 03 Aug 2010 00:00:00 GMTWhy is Victoria so special?I have been fortunate to have lived in this wonderful place for nearly 30 years, and I clearly remember falling in love with Victoria on our very first trip to the capital city back in 1978. 

Through my travels, many people have told me that they have heard about Victoria, and wish to visit it one day. Many, that I come across have been to Victoria, and absolutely love it.

Take a look at this great video about Victoria and some of the great things to do while here. We are truly blessed to be living in paradise.

If you would like to make the island home, let us know and we can make your dreams come true.

The Victoria Home Team

]]>http://www.robsoldit.com/Blog/Why-is-Victoria-so-specialhttp://www.robsoldit.com/Blog/Why-is-Victoria-so-specialTue, 27 Jul 2010 14:31:00 GMTWhat's up this weekThe continuing trend in Victoria this summer is a cooling in the number of homes sold. The Month-to-Date Market Statistics as of 8:00 am Monday, July 19, 2010 are as follows:

  MTD July
  2010 2009
Net Unconditional Sales: 263 933
New Listings: 655 1,357
Active Listings: 4,444 3,632


Please Note

  • Left Column: stats so far this month
  • Right Column: stats for the entire month from last year
If you are interested to find out what your property is worth in today's market, please call the local specialists at the Victoria Home Team (250) 595-3200.
]]>http://www.robsoldit.com/Blog/Whats-up-this-weekhttp://www.robsoldit.com/Blog/Whats-up-this-weekMon, 19 Jul 2010 16:29:00 GMTMonth to Date NumbersMonth-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.
 
]]>http://www.robsoldit.com/Blog/Month-to-Date-Numbershttp://www.robsoldit.com/Blog/Month-to-Date-NumbersMon, 12 Jul 2010 18:53:00 GMTMonth to Date NumbersMonth-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.
 
]]>http://www.robsoldit.com/Blog/Month-to-Date-Numbers-2http://www.robsoldit.com/Blog/Month-to-Date-Numbers-2Mon, 12 Jul 2010 18:53:00 GMTThe numbers for June 2010Spring Sales Soften in May - Choices Increase for Buyers

June 1, 2010

The number of homes and other properties sold throughout the Victoria area softened in May while the choices for buyers increased with a further rise in the number of properties available for sale.

A total of 695 homes and other properties sold in May through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), down from the 756 sales in April. There were 879 sales in May of last year. Prices were mixed depending on the property type.

Some softening in the number of sales was expected due to anticipated increases in interest rates and pressure on affordability as a result of rising prices. So far this year sales are running nearly 14 per cent ahead of the first five months of last year but it’s important to note that the first few months of this year were very strong compared to the same period a year ago when the effects of the recession were still being strongly felt.

Further increases in the number of properties available for sale should temper upward price pressures as buyers enjoy a wider selection of properties from which to choose. As of the end of May, there were 4,521 properties available for sale - up from 4,229 at the end of April. The available inventory is now 19 per cent higher than the 3,789 properties for sale at the end of May a year ago.

Overall prices for single family homes rose last month while prices for condominiums and townhomes moderated. The average price for single-family homes sold in Greater Victoria last month was $646,483 up from $624,149 in April. The median price rose to $594,500. The six-month average was $635,477. There were 24 sales of over $1 million including one sale in Oak Bay of over $3.5 million. The overall average price for condominiums was $324,005 last month, down from $340,105 in April. The average for the last six months was $327,064. The median price for condominiums in May declined to $290,050. The average price of all townhomes sold last month was $430,713 down from $449,556 in April. The median price declined to $418,000. The six month average was $453,798.

MLS® sales last month included 394 single family homes, 202 condominiums, 63 townhomes and 12 manufactured homes.

 

]]>http://www.robsoldit.com/Blog/The-numbers-for-June-2010http://www.robsoldit.com/Blog/The-numbers-for-June-2010Fri, 02 Jul 2010 07:34:00 GMTUpdated Weekly StatsMonth-to-Date Market Statistics as of 8:00 am on Monday, June 28, 2010:

  MTD June
  2010 2009
Net Unconditional Sales: 552 946
New Listings: 1,294 1,436
Active Listings: 4,559 3,794


Please Note

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

As previously noted, we are experiencing a "shift" in the market due to heavy financing constrictions imposed on home buyers and investors. 

A large portion of the buyers pool has been squeezed out of the market due to changes imposed by CMHC. Now, first time buyers must have 10% down and have to be able to qualify based on a 5 year rate posted rate (currently 5.54%). Previously, 1st time buyers were only required to have 5% down and needed to qualify based on the 3 year posted rate, which is usually 1% to 1.5% less than the 5 year posted rate.

]]>http://www.robsoldit.com/Blog/Updated-Weekly-Statshttp://www.robsoldit.com/Blog/Updated-Weekly-StatsMon, 28 Jun 2010 11:39:00 GMTMonth End Stats - May 2010Month-End Market Statistics
Posted  Tuesday June 1, 2010 8:00am:
  May May
  2010 2009
Net Unconditional Sales: 695 879
New Listings: 1,621 1,362
Active Listings: 4,521 3,789

Please Note
  • Left Column: stats for the entire month from this year
  • Right Column: stats for the entire month from last year

The number of homes and other properties sold throughout the Victoria area softened in May while the choices for buyers increased with a further rise in the number of properties available for sale.

A total of 695 homes and other properties sold in May through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), down from the 756 sales in April. There were 879 sales in May of last year. Prices were mixed depending on the property type.

Softening in the number of sales was expected due to anticipated increases in interest rates and pressure on affordability as a result of rising prices. This year's sales are running nearly 14 per cent ahead of the first five months of last year, but it’s important to note that the first few months of this year were very strong compared to the same period a year ago when the effects of the recession were still being strongly felt.

Further increases in the number of properties available for sale should temper upward price pressures as buyers enjoy a wider selection of properties from which to choose. As of the end of May, there were 4,521 properties available for sale - up from 4,229 at the end of April. The available inventory is now 19 per cent higher than the 3,789 properties for sale at the end of May a year ago.

Overall prices for single family homes rose last month while prices for condominiums and townhomes moderated. The average price for single-family homes sold in Greater Victoria last month was $646,483 up from $624,149 in April. The median price rose to $594,500. The six-month average was $635,477. There were 24 sales of over $1 million including one sale in Oak Bay of over $3.5 million. The overall average price for condominiums was $324,005 last month, down from $340,105 in April. The average for the last six months was $327,064. The median price for condominiums in May declined to $290,050. The average price of all townhomes sold last month was $430,713 down from $449,556 in April. The median price declined to $418,000. The six month average was $453,798.

MLS® sales last month included 394 single family homes, 202 condominiums, 63 townhomes and 12 manufactured homes.

]]>http://www.robsoldit.com/Blog/Month-End-Stats-May-2010http://www.robsoldit.com/Blog/Month-End-Stats-May-2010Wed, 02 Jun 2010 09:41:00 GMTMonth End Stats - May 2010Month-End Market Statistics
Posted  Tuesday June 1, 2010 8:00am:
  May May
  2010 2009
Net Unconditional Sales: 695 879
New Listings: 1,621 1,362
Active Listings: 4,521 3,789

Please Note
  • Left Column: stats for the entire month from this year
  • Right Column: stats for the entire month from last year

The number of homes and other properties sold throughout the Victoria area softened in May while the choices for buyers increased with a further rise in the number of properties available for sale.

A total of 695 homes and other properties sold in May through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), down from the 756 sales in April. There were 879 sales in May of last year. Prices were mixed depending on the property type.

Softening in the number of sales was expected due to anticipated increases in interest rates and pressure on affordability as a result of rising prices. This year's sales are running nearly 14 per cent ahead of the first five months of last year, but it’s important to note that the first few months of this year were very strong compared to the same period a year ago when the effects of the recession were still being strongly felt.

Further increases in the number of properties available for sale should temper upward price pressures as buyers enjoy a wider selection of properties from which to choose. As of the end of May, there were 4,521 properties available for sale - up from 4,229 at the end of April. The available inventory is now 19 per cent higher than the 3,789 properties for sale at the end of May a year ago.

Overall prices for single family homes rose last month while prices for condominiums and townhomes moderated. The average price for single-family homes sold in Greater Victoria last month was $646,483 up from $624,149 in April. The median price rose to $594,500. The six-month average was $635,477. There were 24 sales of over $1 million including one sale in Oak Bay of over $3.5 million. The overall average price for condominiums was $324,005 last month, down from $340,105 in April. The average for the last six months was $327,064. The median price for condominiums in May declined to $290,050. The average price of all townhomes sold last month was $430,713 down from $449,556 in April. The median price declined to $418,000. The six month average was $453,798.

MLS® sales last month included 394 single family homes, 202 condominiums, 63 townhomes and 12 manufactured homes.

]]>http://www.robsoldit.com/Blog/Month-End-Stats-May-2010-2http://www.robsoldit.com/Blog/Month-End-Stats-May-2010-2Wed, 02 Jun 2010 09:41:00 GMTReal Estate this weekMonth-to-Date Market Statistics as of May 17 2010

As you can see by the numbers below, the tides have definitely shifted, and we are now in the midst of a more balanced, stable market.

The next couple of months will dictate what the remainder of the year will look like. With the HST coming into effect, there will be downward pressure on prices of new homes. The number of sales in Canada has dropped this month by 2.6% while the number of listings increased. For the entire country there is an average of 5.3 months of listing inventory available, which indicates a balanced market. 

  MTD May
  2010 2009
Net Unconditional Sales: 325 879
New Listings: 880 1,362
Active Listings: 4,316 3,789


Please Note

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

]]>http://www.robsoldit.com/Blog/Real-Estate-this-weekhttp://www.robsoldit.com/Blog/Real-Estate-this-weekWed, 19 May 2010 14:30:00 GMTThis week in real estateMonth-to-Date Market Statistics as May 10 2010 - 9:00am:

  MTD May
  2010 2009
Net Unconditional Sales: 173 879
New Listings: 523 1,362
Active Listings: 4,200 3,789


Please Note

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

Join our Unique Buyer Profile Service and Receive Daily Updates of HOT, NEW LISTINGS as they hit the market! It's Fast. Easy. Automatic. FREE!  

VictoriaHomeListings.com is a FREE service to help area home buyers find their dream home. Your first email will list all homes currently for sale that meet your search criteria. Then each morning you will be emailed a list of all of the new homes for sale and price changes since your previous search. No more having to rely on manual searches.

Click here to receive your listings today.





]]>http://www.robsoldit.com/Blog/This-week-in-real-estatehttp://www.robsoldit.com/Blog/This-week-in-real-estateTue, 11 May 2010 09:37:00 GMTMonth of April: Sales Steady-Inventory risesMonth-End Market Statistics for April 2010

  Apr Apr
  2010 2009
Net Unconditional Sales: 756 747
New Listings: 1,783 1,260
Active Listings: 4,229 3,861


Please Note

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

The available inventory is now 10 per cent higher than the 3,861 properties for sale at the end of April a year ago and this means a wider selection for buyers. As anticipated, sales have now returned to levels comparable to a year ago and this is expected to continue throughout the balance of the year. The market is very stable right now offering a good balance between those wishing to sell and those looking to buy.

The average price for single-family homes sold in Greater Victoria last month was $624,149 down from $633,938 in March. The median price, however, rose to $572,500. The six-month average was $630,491.

ATTENTION  BUYERS: Join our Unique Buyer Profile Service and Receive Daily Updates of HOT, NEW LISTINGS as they hit the market! 

It's Fast. Easy. Automatic. FREE!

VictoriaHomeListings.com is a FREE service to help area home buyers find their dream home. Your first email will list all homes currently for sale that meet your search criteria. Then each morning you will be emailed a list of all of the new homes for sale and price changes since your previous search. No more having to rely on manual searches.

Click here to receive your listings today.


]]>http://www.robsoldit.com/Blog/Month-of-April-Sales-Steady-Inventory-riseshttp://www.robsoldit.com/Blog/Month-of-April-Sales-Steady-Inventory-risesMon, 03 May 2010 14:27:00 GMTCurrent stats: month to dateMonth-to-Date Market Statistics as of Monday, April 26, 2010 9:30am:

  MTD Apr
  2010 2009
Net Unconditional Sales: 607 747
New Listings: 1,436 1,260
Active Listings: 4,078 3,861


Please Note

  • Left Column: stats so far this month
  • Right Column: stats for the entire month from last year
As you can see the number of new listings is steadily increasing as the weeks go by, and the Greater Victoria Market has reached an yearly high of 4078 listings on the market.  These are signs of a definite balanced market - 6 to 7 months of inventory available.
 
Thinking about a move? 
We GUARANTEE YOUR HOME SOLD IN 60 DAYS OR LESS, OR WE SELL IT FOR FREE!! For More Details Click Here 

Your home is most likely worth more than you think...for a FREE Comprehensive Home Market Analysis, call the local expert:
Rob Cvitanovic of Keller Williams Realty West (250) 704-6970 or simply click here


]]>http://www.robsoldit.com/Blog/Current-stats-month-to-datehttp://www.robsoldit.com/Blog/Current-stats-month-to-dateMon, 26 Apr 2010 10:50:00 GMTIf today was your last dayThis blog post has nothing to do with real estate...it's here so you'll take a couple minutes of your day to just sit back, reflect and hopefully feel good.

Sometimes we stop and wonder why - why are we here, what is our purpose, and why do we do what we do?

The question, "What would you do if today was your last day?" is one of those questions that if you really think about, can change you life. We won't be able to know exactly what day will be our final day here. This is why it's important to do what you can while you're still here.

]]>http://www.robsoldit.com/Blog/If-today-was-your-last-dayhttp://www.robsoldit.com/Blog/If-today-was-your-last-dayThu, 22 Apr 2010 00:00:00 GMTMonth-to-date Sales statsMonth-to-Date Market Statistics

Monday, April 19, 2010 7:45am:

  MTD Apr
  2010 2009
Net Unconditional Sales: 386 747
New Listings: 1,040 1,260
Active Listings: 3,997 3,861


Please Note

  • Left Column: stats so far this month
  • Right Column: stats for the entire month from last year
    Thinking about a move? 
    We GUARANTEE YOUR HOME SOLD IN 60 DAYS OR LESS, OR WE SELL IT FOR FREE!! For More Details Click Here 
Your home is most likely worth more than you think...
for a FREE Comprehensive Home Market Analysis, call the local expert: Rob Cvitanovic of Keller Williams Realty West (250) 704-6970 or simply click here
]]>http://www.robsoldit.com/Blog/Month-to-date-Sales-statshttp://www.robsoldit.com/Blog/Month-to-date-Sales-statsWed, 21 Apr 2010 00:00:00 GMTCurrent Stats for April, 2010The latest stats indicate that sales for the month of April are on pace to hit 500-600 unconditional sales by the end of the month. This is average for this time of year. We are also witnessing an increase on the number of listings hitting the market...are we now finally reaching a balanced market?

Here are the month-to-date market statistics for April 2010. 

  MTD Apr
  2010 2009
Net Unconditional Sales: 195 747
New Listings: 633 1,260
Active Listings: 3,893 3,861


Please Note

  • Left Column: stats so far this month
  • Right Column: stats for the entire month from last year
]]>http://www.robsoldit.com/Blog/Current-Stats-for-April-2010-3http://www.robsoldit.com/Blog/Current-Stats-for-April-2010-3Mon, 12 Apr 2010 10:23:00 GMTThis Month in Real Estate-April 2010

]]>http://www.robsoldit.com/Blog/This-Month-in-Real-Estate-April-2010http://www.robsoldit.com/Blog/This-Month-in-Real-Estate-April-2010Fri, 09 Apr 2010 11:37:00 GMTMarch Was Smoking HotThe number of homes and other properties sold in Greater Victoria area rose substantially in March compared to both the previous month and to March of last year. The anticipated increase in interest rates has likely prompted some buyers to make their move sooner than later. A total of 789 homes and other properties sold in March through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), up 27 per cent from the 621 sales in February. There were 602 sales in March of last year. Prices for single-family homes and condominiums rose moderately while prices for townhomes were mixed.

The average price for single-family homes sold in Greater Victoria last month was $633,938 up from $620,833 in February. The median rose to $569,950. The six-month average was $623,508.

The overall average price for condominiums was $336,779 last month, up from $304,163 in February. The average for the last six months was $322,663. The median price for condominiums in March rose to $305,000. The average price of all townhomes sold last month was $456,446 down from $460,900 in February. The median price, however, rose to $439,800. The six month average was $456,368.

Here is the final tally of sales for the entire month of March.

 

  Mar Mar
  2010 2009
Net Unconditional Sales: 789 602
New Listings: 1,719 1,216
Active Listings: 3,712 3,859


Please Note

  • Left Column: stats for the entire month from this year
  • Right Column: stats for the entire month from last year
Thinking about a move? We GUARANTEE YOUR HOME SOLD IN 60 DAYS OR LESS, OR WE SELL IT FOR FREE!! For More Details Click Here 
Your home is most likely worth more than you think...for a FREE Comprehensive Home Market Analysis, call the local expert: Rob Cvitanovic of Keller Williams Realty West (250) 704-6970 or simply click here
For all your real estate needs, call the the LOCAL MARKET SPECIALISTS...The Victoria Home Team (250) 704-6970

]]>http://www.robsoldit.com/Blog/March-Was-Smoking-Hothttp://www.robsoldit.com/Blog/March-Was-Smoking-HotThu, 01 Apr 2010 13:46:00 GMT