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The number of homes and other properties sold throughout the Victoria
surged in February compared to January and remained well above the
number of sales in February of last year. A total of 621 homes and
other properties sold in February through the Victoria Real Estate
Board’s Multiple Listing Service® (MLS®), up from the 418 sales in
January and 403 sales in February of last year. Prices for
single-family homes and condominiums softened somewhat while prices
for townhomes rose slightly.
Victoria Real Estate Board President, Randi Masters, says
February’s figures demonstrate continued strength in the market.
"There will always be month-to-month fluctuations in prices
depending on what kinds of properties sell in a particular month, but
the relatively high number of sales in February shows ongoing consumer
confidence.
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" Masters added that February sales have now returned to
historically more normal levels as a year ago the market was just
beginning to emerge from the economic downturn."
Masters noted that the number of properties available for sale again
increased last month, "As of the end of February, there were
3,280 properties available for sale - up from 2,793 at the end of
January but still down slightly from 3,844 properties for sale at the
end of February a year ago." Masters added that activity is
particularly strong in the mid-price range with nearly 50 per cent of
single-family homes last month selling for under $550,000.
The average price for single-family homes sold in Greater Victoria
last month was $620,833 down from $644,678 in January. The median
price also declined to $560,950. The six-month average was $620,174.
There were 20 sales of over $1 million, including one sale on the Gulf
Islands for over $2.5 million.
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The overall average price for condominiums was $304,163 last month,
down from $313,337 in January. The average for the last six months was
$320,376. The median price for condominiums in February declined to
$285,000.
The average price of all townhomes sold last month was $460,900 up
from $453,013 in January. The median price rose to $430,000. The six
month average was $453,440.
MLS® sales last month included 296 single family homes, 192
condominiums, 78 townhomes and 14 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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