Victoria BC MLS® Stats for March 2012
Single family home sales have risen 17% since last month, while the six-month average price is up 1% to $599,551. The average price of a Greater Victoria single family home in March 2012 is $640,553 up from $579,985. This number however, is affected by the sale of two homes over $4 million last month.
Compared to March 2011, active listings in this category are up 5% to 1,858, while sales are down 7%.
Sales of condos and townhomes are flat, compared to February 2012, while down significantly from 12 months ago (17% and 15% respectively). Condo prices are unchanged, while townhomes are 1% lower than March 2011.
Total Single Family Homes Sold: 325 & Average Price $625,557
Total Condos Sold: 142 & Average Price $332,835
Total Townhomes Sold: 64 & Average Price $414,439
Total Manufactured Homes Sold: 12 & Average Price $139,092
Total non-waterfront Single Family Dwellings sold: 311, down 26 sales over March 2011
Total waterfront Single Family Dwellings sold: 14, equal to MArch 2011
Total Single Family Dwellings sold over $1 million: 26 (4 over $2 million)
"With softer prices, buyers have been looking at houses," says Carol Crabb, President of the Victoria Real Estate Board. "That is now being reflected by the six-month average price increase. We predicted a flat market in January, and so far that is what we are experiencing."
She also believes sales activity was affected by poor weather and many families travelling over the two-week spring break. "REALTORS® tell me many clients took the time for family vacations," Crabb adds.
With a total of 4,274 active listings, properties on the market have edged up from last month (3,977 active listings at February 29, 2011). Increased supply levels reflect typical spring activity as seen year over year.
(The Fish Market - Sidney B.C.)