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Greater Victoria Real Estate Listing & Sales Activity, February 19 - 26, 2012

Greater Victoria Real Estate Listing & Sales Activity,

February 19 - 26, 2012

Victoria, Esquimalt, Saanich Real Estate Market Watch

"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.

Greater Victoria Weekly Residential, Real Estate Listings & Sales Update, Reported by the Victoria Real Estate Board for the Past Week.
New Listings New Listings 283
Back on the Market Back On Market 8
Added Inventory Added to Inventory (New Listings & Back on the Market) Total for the Week +291
Price Change Price Changed 171

Sale Pending

Sales Pending 120
Sold Listings Sold 69
Cancelled Listings Canceled Listings 50
Expired Listings Expired Listings 47
Reduced Inventory Inventory Removed (Canceled, Expired, Pending & Sold) Total for the Week. -286
Victoria real estate market update Inventory Change for the week

+ 5

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.

Here is a link to the Victoria Real Estate Board Statistical Reports, and published every month

Greater Victoria Real Estate Listing & Sales Activity Febuary 19 - 26, 2012

 

 

 

 

Peter Pfann,

CPCA, ABR, SRES, E-Pro, IMSD, Master ASA, C-CREC, Associate Broker.

Text or Talk To Peter @: (1) 250 - 213 - 9490  

peterpfann@gmail.com  www.pfanntastic.com

Pfanntastic Properties in Victoria, BC, Canada, @ Fair  Realty Since 1986.

Regional office: 1540 Fort St Victoria, BC V8S 5J2

 

Comments

HI Valerie,

We hope that one day, you will come and visit, and we know once you and your family are here you will never want to leave.....

Posted by Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986., Talk To or Text Peter 250-213-9490 (eXp Realty, Victoria BC www.pfanntastic.com) over 8 years ago

Peter & Linda - I really like that quick read or snapshot of the market that you offer, it seems to capture just about everything and shows where/how inventory is changing.

Posted by AJ Heidmann ~ CRS, YOUR Alexandria & Arlington, VA Real Estate Expert (McEnearney Associates, Inc.) over 8 years ago

HI AJ,

Tha is exactly the reason for the format, a quick 30 second method of getting an update to the Status of the Greater Victoria Real Estate Market

Posted by Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986., Talk To or Text Peter 250-213-9490 (eXp Realty, Victoria BC www.pfanntastic.com) over 8 years ago

Peter & Linda -- Well, your blog is certainly the place to go for Greater Victoria real estate market updates. You provide a valuable service to buyers and sellers alike.  Very well done.

Posted by Barbara Altieri, REALTOR-Fairfield County CT Homes/Condos For Sale (Kinard Realty Group Fairfield and New Haven County CT Real Estate) over 8 years ago

HI Barbara,

Thank you for visiting and kind words, we try to offer an easy to read and use 30 second market update for Greater Victoria.

Posted by Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986., Talk To or Text Peter 250-213-9490 (eXp Realty, Victoria BC www.pfanntastic.com) over 8 years ago

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