Victoria Real Estate Update November 2009

Statistics taken from the MLS® showed the number of sales we had in Victoria for October were 400 single family homes, 203 condominiums, 76 townhomes and 12 manufactured homes.  In the 'Victoria' map area there were 46 Single Family Home sales, 92 Condominium sales and 12 Townhome sales.  Below is an up to date graph showing the average SELLING price for the VICTORIA map area of single family homes, condominiums, and townhomes.

Below are some interesting statistics to compare October 2009 from October 2008:

Total Activie Listings:  3219

Total Active Listings October 2008:  4680

New Listings for October 2009:  1067

Number of Sales October 2009:  742 (+135% YTD)

Number of Sales October 2008:  316

Overall appreciation/depreciation year over year:  +3%

Sell/List Ratio October 2009 (condos only)            59%

Sell/List Ratio October 2008      "          "              21%

Sell/List Ratio October 2009 (residential only)       84%

Sell/List Ratio October 2008         "             "        34% 

*Represents the number of listings SOLD over the number LISTED, expressed as a percentage.

A Quote Taken from the Victoria Real Estate Board News Release for Novemeber:

Property sales throughout the Victoria area in October were at their highest level for the month since 1992!  It was the sixth month in a row that property sales were higher than in the corresponding month of last year.

 I hope this helped you understand the current market in Victoria BC.  For more sale information in Oak Bay and my recent International Real Estate Appointment please read my blog page. If you are considering selling or buying residential real estate anywhere in Victoria please call me direct at 250.744.4556 or toll free at 1.800.550.0585 and stay tuned for more updates.