Victoria BC MLS Stats for June 2011
A total of 618 homes and other properties sold in June through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), up from 572 sales in May and very close to the 625 sales in June of last year. MLS® sales last month included 348 single family homes, 177 condominiums, 62 townhomes and nine manufactured homes.
The average price for single-family homes sold in Greater Victoria last month was $629,292, up from $628,462 in May. The median price also rose to $569,900 while the six-month average declined slightly to $619,568. There were 23 single family home sales of over $1 million in June. The overall average price for condominiums last month was $320,172, down from $328,345 in May. The average for the last six months rose to $329,402. The median price for condominiums in June also rose to $300,000. The average price of all townhomes sold last month declined to $444,768 from $466,845 in May. The median price also declined to $399,000 while the six month average rose to $448,159.
Victoria Real Estate Board President, Dennis Fimrite, noted that market activity has returned to comparable levels of a year ago. "Overall sales so far this year are down 21 per cent compared to a year ago. It’s important to note, however, that the first few months of last year were very active compared to this year and we are now seeing a return to similar market conditions of a year ago." Fimrite added that the number of properties available for sale continued to increase at the end of last month with inventory levels currently seven per cent higher than a year ago. "The available choice for buyers increased further last month with 5,050 properties available for sale at the end of June - the highest monthly level in 15 years." Fimrite add that there were 4,857 properties available for sale at the end of May.