Posted by: Daryl & Wendy Ashby | June 1, 2012

Current Activity

Pricing and sales numbers for most categories are essentially the same as in March 2012, spelling out what some refer to as a balanced real estate market for Greater Victoria. “That’s good news for both buyers and sellers.”

“The one category with increased sales is condominiums with 19% increase. New developments came on stream in View Royal and Langford, resulting in a higher sales volume.”

The average price for single family homes sold in Greater Victoria last month was $609,376, down from $640,553 in March which was slightly elevated by two sales over $4 million. The median price, however, rose to $560,000.

“Homebuyers have time to research their purchases without pressure by working with home inspectors, mortgage professionals and REALTORS®.”

Total MLS® sales for April 2012 were 586, with 565 of those residential, compared to 574 and 540 respectively for the same period in 2011. Overall, current sales are on trend with the average 10 – 15 year cycle. Average listings were 4,638 for April 2012.

Cameron Muir, Chief Economist of the British Columbia Real Estate Association, states that he expects a modest growth in the economy, combined with a strong Canadian dollar will keep the Bank of Canada from raising its trend-setting interest rate until 2013.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: