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Sales of homes and other properties in the Greater Victoria area
followed the expected trend and softened last month as many people
enjoyed vacation time. Prices also moderated slightly. A total of 517
homes and other properties sold in August through the Victoria Real
Estate Board’s Multiple Listing Service® (MLS®) compared to the
616 sales in July. There were 846 sales in August of last year.
Victoria Real Estate Board President, Tony Joe, notes that
today’s buyers now have more properties from which to choose than at
any time since 1996.
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"The number of properties available for sale is now at the
highest level in over 12 years, increasing in August to 4,657. That
represents a 39 per cent increase compared to August of last
year." Joe notes that prices moderated last month with nearly 46
per cent of single family homes selling for under $500,000. "The
average price of single family homes in Greater Victoria last month
was $549,914, down from over
$578,000 in July; the six-month average was $592,582 though the median
price in August was considerably lower at $512,000." Joe noted
that eleven single family homes sold for over $1 million in August,
including two sales on the Gulf Islands.
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The average price of all townhomes sold last month was $413,994, down
from nearly $455,000 in July; the six month average was $435,309. The
median price in August was $382,000. Joe noted that the overall
average price for condominiums at $302,200 last month was virtually
unchanged from July. The average for the last six months was $319,825.
The median price for condominiums in August was $280,000.
MLS® sales last month included 269 single family homes, 160
condominiums, 53 townhomes and eight manufactured homes
Monthly
Sales Summary
Average
Selling Price Graphs
Active
Listings, New Listings and Sales Graphs
Click here for printable
copy
Statistics courtesy of the Canadian Real Estate Association and the
Victoria Real Estate Board
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