Victoria Real Estate Update - June 2010

Good choices available for Buyers as sales soften and inventory rises in June.  Greater Victoria home buyers have a growing number of properties from which to choose as inventory levels rose to 4,730 properties available for sale at the end of June – up 25 per cent from the 3,794 available properties a year earlier. Sales, meantime, softened last month while overall prices showed little change.  A total of 625 homes and other properties sold in June through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), down from the 695 sales in May. There were 946 sales in June of last year.  Below is a quote from the current President of the Victoria Real Estate Board talking about the overall average prices statistics;

For Single Family Homes in the Victoria and Vic West area there were a total of forty one sales in June.  You will notice in the graph below all the reported sales by price range...I also included the Oak Bay Area as well;

Victoria, BC Historical Average Home Prices

I thought you would enjoy to see the historical prices for Victoria for comparables, starting from the year 1984 to 2009.  I find this a very interesting graph that also shows the average prices and the number of homes sold month by month from June 2008 to June 2010;

Finally, the monthly graph showing the total active Victoria MLS® Listings from June 2008 to June 2010 and a graph showing total NEW MLS® Listings and total MLS® Sales;

I hope this has helped you understand the current market in Victoria BC as we head into July (summer!).  Please read my blog if you are looking for more information about the Oak Bay real estate market.  If you are thinking about Selling or Buying residential real estate please call me direct at 250.744.4556, 1.800.550.0585 or follow me on twitter at http://twitter.com/brussell6.  Please stay tuned for more updates.