Victoria BC MLS Stats for January 2012
While the average price for a single family home in Greater Victoria softened slightly (3.62%) in January 2012 when compared to January 2011, sales over the same period have increased by 9.4%.
MLS® sales last month included 191 single family homes, 112 condominiums, 41 townhomes and 8 manufactured homes.
The average price for single-family homes sold in Greater Victoria last month was $581,519 down slightly from $592,582 in December. The overall average price for condominiums last month was $306,546 down from $312,066 in December. The average price of all townhomes sold last month was $396,911 compared to $387,719 in December.
Total non-waterfront Single Family Dwellings sold: 187, up 9.4% over January 2011
Total waterfront Single Family Dwellings sold: 4, down 43% over January 2011
Single Family Dwellings sold over $1 million: 9 (none over $2 million)
"These numbers definitely match what we have been hearing from our Members," says Carol Crabb, President of the Victoria Real Estate Board. "Showings have increased, sales are slowly increasing and there is a sense of optimism among area REALTORS®.
"Buyers are still price sensitive and very aware of the market values of homes. Sellers need to be aware that average prices trending up or down may not apply to their market area. They should consult with REALTORS® regarding prices in their own neighbourhood communities."
The number of active listings continues to decrease from a high of 5,094 in July 2011, creating more balance in the market. When supply exceeds demand, buyers can afford to be choosier and wait for the right house, at the right price.
"That said, buyers seem to be tired of all the doom and gloom stories about the global economy," Crabb adds. "Interest rates are good and they are keeping our Members busy with showings."