Saanich West 2008 - 2012 Historical Real Estate Market Trends.
Peter and Linda Pfann, are Realtors assisting Saanich West and Greater Victoria bound clients from down the block or from across the globe with buying, selling, investing and retiring in and around Greater Victoria, BC Canada since 1986.
Saanich West Single Family Homes
- Saanich West Condominiums (suites), Town-Homes and 1/2 Duplexes
The Neighbourhoods and Areas forming Saanich West included in this report are:
Beaver Lake, Elk Lake, Gateway, Glanford, Gorge, Granville, Interurban, Layritz, Marigold, Northridge, Portage Inlet, Prospect Lake, Royal Oak, Rudd Park, Strawberry Vale, Tillicum, Willis Point and West Saanich.
The data below is very area specific information, however we would not suggest to use this information to establish the value of any one property, as there just too many details that can and often will affect the value of a property. If you are considering your real estate options, please do not hesitate to contact us.
For many the use of Historical Market Trends offers the proper perspective to analyze long term trends in any market place and determine how secure and safe guarded a long term real estate investment will be in any location.
The Saanich West Historical Real Estate Market Trend Graphs below indicate the following:
- Saanich West Single Family Home Average Prices (Values) have remained just Below $ 590,000 by 2010 and have since remained mostly unchanged.
- The Number of Saanich West Single Family Homes Sold, saw a significant drop during 2010, and have stabalized during 2011, while prices remained more or less unchanged.
- Saanich West Condominiums (suites), Town-Homes and 1/2 Duplexes Prices (values) were highest at the end of 2009 and since have seen a very modest decline in prices, and it would appear that this decline in prices will continue for as long as the supply far exceeds the demand.
- The Number of Saanich West Condominiums (suites), Town-Homes and 1/2 Duplexes Sold is still in a significant decline in the overall sales numbers from a high in 2009 of about 250, to approx. 150 during 2011.
As to drawing possible conclusions for the Saanich West Real Estate Market from these historical real estate market results :
- It would appear that the Single Family Home Market in Saanich West is now at a Price Level and Number of Sales that we would consider it a balanced market which is likely to remain for the coming year to 18 months. This is offering both Sellers and Buyers the confidence that buying or selling, it is unlikely that values and number of sales will dramatically changes for the next 12 to 24 months (unless dramatic external issues changes the typical progression)
- As To Saanich West Condominiums (suites), Town-Homes and 1/2 Duplexes, the story is entirely different..... With the relatively sharp drop in the number of sales in Saanich West since 2009, while prices initially remained the same, one could conclude (for Buyers) that prices are likely to continue to soften over the next 12 - 24 months. For Sellers, it would be very important to ensure that serious considerations is given to Pricing, presentation and marketing to ensure that your property is truly showing (to the fewer buyers) that it represents the best value in the market today.
Saanich West Single Family Homes Historical Real
Estate Market Trends 2008 to 2012
Saanich West Condominiums, Town-Homes, & 1/2
Duplexes Historical Real Estate Market Trends 2008 to
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- What is My Saanich West Home Worth?
- Current Greater Victoria Real Estate Board Statistical Reports (courtesy VREB)
- Saanich West BC, Resources (jobs, schools, health care, relocation, properties).
- Getting to know Saanich BC.
- Greater Victoria Community and Real Estate Resources
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