Victoria Real Estate Update - November 2012

1915 Quixote Lane Luxury Fairfield Home Fall View


I shot this photo last week while showing my Luxury listing located in the Fairfield area just bording along Oak Bay (1915 Quixote Lane).  Loving the fall colours on the trees, I wanted to share this view with you all. Magnificent and a rare offering! Views towards Downtown and Government House (a National Historic Site) in the Distance with the Ocean to the left. 

11-2012 Victoria Real Estate Stats 


Government lending regulations have had the desired cooling effect on year-over-year sales numbers.  Multiple Listing Sales for October 2012 were 373 compared to 483 in October 2011.  During the month, 211 single family homes sold throughout the Victoria Real Estate Board's region, compared to 260 in October 2011. The average price for single family homes was $576,720. down 2% from last October's average of $590,539. The median price for the same period is down $24,000. Month-ver-month, both sales volume and the six-month average for single family homes are flat.  Active listings are 4,876.

Victoria Real Estate Board President says "Federal measures to slow real estate sales nationally are having a local effect.  Our REALTORS® tell me that with the reduced amortization rates, many buyers are having trouble getting financing or the type of home that fits their needs, particularly first-time buyers."  

11-2012 Victoria Year By Year Sale Stats

Below show Real Estate Stats for the Single Family Home sales since January 2012 by price range in the Victoria and Oak Bay Municipalities.  CM = Current Month and YTD = Year To Date.

11-2012 Victoria Home Sales By Price Range

I found this Historical Chart from the Victoria Real Estate Board interesting as well showing Single Family Homes in the Greater Victoria Area dating back to 1990. 

11-2012 Victoria Home Sales Stats

I hope this update was useful and if you have any questions or would like help with your real estate needs please call me direct at 1.800.550.0585.  Raised in Oak Bay and currently living in the Fairfield area I'd be happy to help.  Please stay tuned for more updates or check out more Oak Bay info and don't forget to set your clocks BACK one hour on Sunday November 4th!