Greater Victoria Real Estate Listing & Sales Activity,
February 19 - 26, 2012
"Living Near One of the Beaches in 10 Mile Point Saanich, BC
Is A Pfanntastic Place to call Home."
Every Week Peter and Linda Pfann take a quick reading of the Greater Victoria Real Estate Market (based on MLS information) for you. Below is our overview of the Victoria Real Estate Market over the past week.
The Vancouver Island BC Communities and Areas included in this Greater Victoria Real Estate Snapshot are:
Victoria, Saanich (East and West), Central Saanich, North Saanich, Sidney, Oak Bay, Esquimalt, View Royal, Highlands, Langford, Colwood, Metchosin, Sooke, Malahat.
If you would like to receive regular updates about real estate activity in your area, or the area you would like to move to, please use our Free Victoria Homes Now Tool that offers you to receive highly personalized and detailed property and statistical information at your fingertips.
After a very Wet Week, we hope that spring will show its brighter side for the coming week in Greater Victoria, a few blossoms are starting to show in the trees and we are starting to see slightly more For Sale Signs and sales Activity all over Greater Victoria.
For this 3nd week of February, and better than average weather (al be it with lots or rain), it would appear that our typical spring rally may have started a little early...with 283 new listings for the week the signs are starting "Pop Up" just like the flowers, and 189 reported pending and completed sales for the week..
There are Pfanntastic opportunies available for home buyers, NOW is the right time for buyers to secure a mortgage rate hold as there are some indications that lenders (not the bank of Canada) may be raising some fo their rates.
It appears that the general public feels that with the lower prices, low interest rates and good supply, that the time has come to take advantage of some of the Pfanntastic Real Estate Opportunities available in the market place in Greater Victoria.
Attendance at Open Houses is very good and Further confirms a slowly improving and strengthening of our marketplace in Greater Victoria, for most areas and property types in and around the lower Vancouver Island region.
We also offer the Greater Victoria area, single family home market place reports for each community in and around Victoria. (you can read these reports here).
In short, dependent what your plans are with your real estate decisions, it is very important to consult with your trusted real estate expert to develop a strategy that will optimize your options and opprtunities. (we would like to apply to become your trusted expert).
Once again we need to point out in our weekly review the number of Price Changes for the Week.......171 Price Changes in one week,(read mostly price reductions).
"Deciding on The Right Asking Price is by far the most important decision sellers make to ensure the sale of their property and why properties are Selling" "(or why they are not selling)."
- It is our experience, that if sellers want to sell their property in this still softer and more fragile market, our best advise to potential home sellers is to trust your agent and the price recommendations they offer you based on their comprehensive market value evaluation.
- If you need a 2nd opinion, please do not hesitate to contact Peter and Linda Pfann, and it will be our pleasure to complete either a summary evaluation for you (see below) or provide our 60+ page, complete evaluation report which also includes our suggestions for optimizing the marketing results for your property.
Notes on our Weekly Review statistical information:
- If The Number of Properties Removed from the Market Exceeds the New Inventory for a longer period of time (3-4+ months) the market is active, and prices will level and eventually increase.
- When The Number of Properties Added to the Inventory Exceeds the Number of Properties Removed from the inventory for a longer period of time (3-4+ months), the market is slowing down and prices will remain level or likely reduce.
- Monitor our Victoria Real Estate Daily Market Watch over a period of time and you can easily see how the Victoria Real Estate Market is progressing.
- As always it is nearly impossible to apply the generalities of the entire market place to your particular personal situation, we encourage you to always best to consult with your local real estate specialist (in Greater Victoria that would be Peter and Linda Pfann off course). It would be our pleasure and privilege to review and discuss all your plans, dreams and options, in total confidence and without obligations.
Greater Victoria Real Estate Listing & Sales Activity Febuary 19 - 26, 2012