Posted by: Daryl & Wendy Ashby | November 10, 2010

Market Activity for October

The number of property sales throughout Greater Victoria rose in October while prices remained mixed. A total of 467 homes and other properties sold through the Victoria Real Estate Board’s Multiple Listing Service, up 18 per cent from the 395 sales in September. There were 742 sales in October of last year. 

The number of sales during this pst month was similar to the levels seen in the late 1990’s representing a situation somewhat reflective of the balanced market a decade ago, prior to the very active years of 2001 to 2009.

The average price for a single-family home sold in Greater Victoria last month was $641,780, up from $599,825 in September. The median price rose to $539,500. The six-month average also rose to $627,263. There were 12 single family homes that sold for over $1 million in October including one sale in Central Saanich of over $6 million. Obviously this would affect the overall average. There were 11 sales in September over $1 million.

The overall average price for condominiums was $323,522 last month, up from $295,463 in September. The average for the last six months was $321,381. The median for condominiums declined to $278,500.

The average price of all townhomes sold last month rose to $446,026 from $439,040 in September. The median price declined slightly to $421,250. The Six month average was $432,723.

The number of properties available for sale at the end of last month declined slightly to 4,046 but this was still 26 per cent higher compared to the 3,219 available in October of last year.

MLS sales last month included 252 single family homes, 128 condominiums, 50 townhomes and 15 manufactured homes.


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