VICTORIA, BC–Greater Victoria real estate sales for May are identical to the same period one year ago: 659 properties sold on the MLS® System.
“We are continuing to see improved consumer confidence in the marketplace,” says Shelley Mann, President of the Victoria Real Estate Board.
“Our Members are much busier with showings and writing offers, but say they are working harder to help their clients satisfy stricter lending rules. This quarter is definitely much stronger than the first quarter of 2013.” Buyers remain price sensitive. “Homeowners who are pricing their properties competitively, not expecting the higher sale prices of 2008, are selling their homes,” Mann says.
“With 4,783 active listings, buyers have plenty to choose from. With higher sales volumes and a reasonable inventory level, Greater Victoria continues to edge towards a balanced market.”
- There were 384 single family homes sold in May at a median price of $515,000, down 3.4% over May 2012 at $533,000.
- Condominium sales were 142 at a median price of $289,500, Up in median over May (167 sales) 2012 at $ 275,000.
- 68 town-homes sold at a median price of $400,000 up in median over May (69 sales) 2012 at 389,900.
- Total Waterfront Single Family Dwellings sold: 18, up 3 over May 2012
- Total Non-waterfront Single Family Dwellings sold: 366, down 7 over May 2012
- Single Family Dwellings sold over $1 million: 18 (2 over $2 million)
While the use of average price information can be useful in establishing trends when applied over a period of time, e.g. six months or longer, the Victoria Real Estate Board cautions that an average price does not indicate the actual value of a property in a particular neighbourhood.
Those requiring specific information on property values in their area should contact a REALTOR® My note (Talk To Peter Pfann, 250 – 213 - 9490.
STRENGTH IN GREATER VICTORIA REAL ESTATE MARKET; Press-release from VREB per: Maggie Kerr-Southin APR Manager, Communications, Victoria Real Estate Board.
Summary page, & pages 1 and 2 of the monthly statistics a provided by the VREB. Minor editing for space, design and inserted my name as a contact.
In Short, relying on this information for any one person or property is not a good idea, hence if you have any plans to buy, sell, invest in Greater Victoria Real Estate……Talk To Peter Pfann 250 213 9490.
STRENGTH IN GREATER VICTORIA REAL ESTATE MARKET is found in slight improvements in demand, inquiries and stabilizing of the inventory and the fact that with the election gone, people will have some direction what our local economic landscape will be like. STRENGTH IN GREATER VICTORIA REAL ESTATE MARKET, June 03, 2013.