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Greater Victoria home buyers have a growing number of properties from
which to choose as inventory levels rose to 4,730 properties available
for sale at the end of June - up 25 per cent from the 3,794 available
properties a year earlier. Sales, meantime, softened last month while
overall prices showed little change.
A total of 625 homes and other properties sold in June through the
Victoria Real Estate Board’s Multiple Listing Service® (MLS®),
down from the 695 sales in May. There were 946 sales in June of last
year.
Victoria Real Estate Board President, Randi Masters,
noted that total sales so far this year are running just two per cent
ahead of the same period a year ago.
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"We are seeing a reverse trend to a year ago when sales were slow
in the early part of the year then picked up considerably in the
spring and summer; this year sales have now begun to slow somewhat
following a strong start to the year." Masters added that despite
the increase in the number of properties available for sale, prices
have remained very stable. "Last month showed very little change
in overall prices and with the growing inventory of available
properties we do not anticipate any significant upward pressure on
prices in the near future."
Overall average prices for single family homes and condominiums
rose slightly last month while prices for townhomes moderated. The
average price for single-family homes sold in Greater Victoria last
month was $649,280 up from $646,483 in May. The median price declined
to $560,822 The six-month average showed little change at
$635,893.
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There were 27 sales of over $1 million including two on the Gulf
Islands. The overall average price for condominiums was $331,131 last
month, up from $324,005 in May.
The average for the last six months was $325,664. The median price for
condominiums in June rose to $295,000. The average price of all
townhomes sold last month was $429,549 down slightly from $430,713 in
May. The median price declined to $405,500. The six month average was
$447,573.
MLS® sales last month included 326 single family homes, 168
condominiums, 67 townhomes and 20 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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