Victoria Real Estate Update - October 2009
Above is a graph from the Victoria Real Estate Board showing the number of New Listings and Total Sales for the month of September.
September Property Sales Reached The Highest in 17 Years!
MLS® sales last month included 437 single family homes, 197 condominiums, 79 townhomes and 15 manufactured homes.
The total ACTIVE lisitngs count came in at 3.419 properties available for sale by the end of September, down 28 per cent from the 4.754 properties available in the same month a year ago. (number of properties sold NOT prices)
Victoria Real Estate Board President, Chris Markham, noted that the market has clearly recovered and now appears to be very stable, "The last seven months have shown a steady improvememt in sales and price stabiiity. It's very encouraging when we look back over the past several years and see sales now exceeding typical levels for this time of the year."
The average price for single family homes sold in Greater Victoria last month was $619,936, up from $596,498 in August. Markham noted that the average price was affected by 24 sales of over $1 million. These included four in Oak Bay, one in Victoria, nine in Saanich East, one in Saanich West, five in North Saanich, one in Sidney, Colwood, Metchosin and Guilf Islands.
I hope this helped you understand the market in Victoria BC. For more sale information in Oak Bay please read my blog page and if you are considering selling or buying residential real estate in Victoria please call me direct at 250.744.4556 or toll free at 1.800.550.0585. Stay tuned for more updates.