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Real estate market making a comeback??

Greater Victoria Residential Real Estate Transitions to a Balanced Market

May 1, 2013

VICTORIA BC - Weighing in on the best April since 2010, Shelley Mann, President of the Victoria Real Estate Board, is cautiously optimistic that the Greater Victoria is back into a balanced market.

"Consumer confidence is increasing," Mann says. "Our total number of sales for April is 615, a 5% increase compared to April 2012 with 586 sales. On the residential side, more properties are selling, and slightly fewer are entering the market, so we are moving from a buyers' market to more balanced market conditions."

Mann's cautions that one month doesn't indicate a market trend, but is encouraged by increased showings by REALTORS®, the number of sales, and comments from other REALTORS® about multiple offers on properties.

Prices remained relatively flat, as predicted by Cameron Muir, Chief Economist of the BC Real Estate Association. There were 367 single family homes sold in April at a median price of $540,000, a 16% increase of homes sold over April 2012. Condominium sales were 149 at a median price of $265,000 and with 62 townhomes sold at a median price of $415,450. There are 4,585 active listings.

Total Waterfront Single Family Dwellings sold: 15, up 2 over April 2012
Total Non-waterfront Single Family Dwellings sold: 352, up 36 over April 2012
Single Family Dwellings sold over $1 million: 30 (5 over $2 million)

 

Graphical representation of recent sale counts and average prices

Stats Quick Reference

Tablular representation of sales statistics from the last two months and from last year

Total Single Family All Areas includes Shawnigan Lake/Malahat, Gulf Islands and Up Island
How can you benefit from the market conditions? I provide a FREE home market evaluation which will give you an idea on the price you can realize from the sale of your home...
 
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Regards,
Arran
 
PS..... Want to earn up to $1000? Let me know if you have a family member or friend who is looking to buy or sell and I will provide professional service to them. This offer expires within 2 weeks!!! 
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NOTE: MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification. This website may only be used by consumers for the purpose of locating and purchasing real estate.