Peter's Blog

head_left_image

Greater Victoria Real Estate Listing & Sales Market Update, March 11 - 18, 2012

Greater Victoria Real Estate Listing & Sales Market Update,

March 11 - 18, 2012Victoria, Esquimalt, Saanich Real Estate Market Watch

"Sidney BC
Near  Victoria 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 Real Estate Listings & Sales Market Update March 11 - 18, 2012,
Reported by the Victoria Real Estate Board for the Past Week.
New Listings New Listings 292
Back on the Market Back On Market 11
Added Inventory Added to Inventory (New Listings & Back on the Market) Total for the Week +303
Price Change Price Changed 164

Sale Pending

Sales Pending 133
Sold Listings Sold 91
Cancelled Listings Canceled Listings 41
Expired Listings Expired Listings 53
Reduced Inventory Inventory Removed (Canceled, Expired, Pending & Sold) Total for the Week. -318
Victoria real estate market update Inventory Change for the week

-15

Greater Victoria Real Estate Listing & Sales Market Update, March 11 - 18, 2012.

For this 2nd Week of March, and better than average weather, it would appear that our typical spring rally may have started a little early...with 292 new listings for the week the signs are starting "Pop Up" just like the flowers, and with 224 reported pending or completed sales for the week, we are seeing a nice balance in this weeks Market..

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.

From our 2 Open Houses this weekend, Attendance at Open Houses remains very good and this further confirms a slowly improving and strengthening of confidence in 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).

The Number of Price Changes for the Week.......164 Price Changes in one week,(read mostly price reductions).

"Deciding on The Right Asking Price" is by far the most important decision YOU as sellers can 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 Market Update 

March 11 - 18 , 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 Peter and Linda,

Sounds like a great summation of your market and what is happening in many areas!!

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.

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) over 8 years ago

Hi Dorie,

Thank you for your feedback, and I am sure that many markets are still find it hard to figure out which direction (if any) they are moving.

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 - The market there seems very balanced, with buyers & sellers coming to agreement 224 times.. and just 292 new listings going into the Spring market.  Best of luck to you!

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

What a Pfanntastic market report Peter and Linda. You covered just about everything a buyer or seller in your area would need to know.  

Posted by Al & Peggy Cunningham, Brokers, Our Family Wants To Help Your Family! (RE/MAX West Realty Inc., Brokerage) over 8 years ago

HI AJ,

Thanks for the feedback, and yes we are getting more and more balance, although we still have a bit more inventory than what we would like to see

The Al and Peggy,

Thanks for the kind words, and we hope our local and not so local readers enjoy our Victoria Real Estate Market Updates.

 

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

Open house is always a good indication of the market improvement and sales activities.

Posted by Eileen Hsu, LICENSED REAL ESTATE SALESPERSON (Douglas Elliman Real Estate) over 8 years ago

Hi Eileen,

so very true, and attendance is strong at this time.

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

Hi Peter and Linda, As always, your reports are always very thourough and easy to follow and a pfanntastic value to those looking to buy and sell in these neighborhoods. It looks like the spring market has started to kick off!

Posted by Cindy Westfall, ABR,GRI Your Tualatin & Portland Metro Real Estate (Premiere Property Group,LLC Portland Metro & Suburbs Oregon) over 8 years ago

Peter & Linda -- I like your comment: Signs are popping up like flowers!  It appears your spring market is getting off to a good start!  Your market reports are SUCH an excellent resource for sellers and buyers.

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

Participate