Victoria Real Estate Market responds as expected to the changing market conditions of 2018
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- Cuthbert Walsh
- 5 years ago
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1 PRESIDENT Cheryl Woolley PRESIDENT ELECT & TREASURER Sandi-Jo Ayers PAST PRESIDENT Kyle Kerr DIRECTORS Jackie Adkins Sheila Aujla Karen Dinnie-Smyth David Langlois Andrew Plank Graden Sol EXECUTIVE OFFICER David Corey January 2, 29 Victoria Real Estate Market responds as expected to the changing market conditions of 28 A total of 375 properties sold in the Victoria Real Estate Board region this December, 8.8 per cent fewer than the 462 properties sold in December 27 and a 24.7 per cent decrease from November 28. Sales of condominiums were down 24.3 per cent from 27 in December with 3 units sold. Sales of single family homes were down 26.6 per cent from December 27 with 74 sold. A grand total of 7,5 properties sold over the course of 28, 2 per cent fewer than the 8,994 sold in sales came in very close to the ten-year average of 7,35 properties sold. Condominium sales totalled 2,62 in 28, compared to 2,783 in 27. Single family home sales were down from 4,69 in 27 to 3,87 in 28. The story arc in real estate this year has been the impact of government influence on a market which was showing signs of levelling out through the latter part of 27, says outgoing Victoria Real Estate Board President Kyle Kerr. All levels of government turned their focus to try to make housing more affordable and attainable across the property spectrum. The federal government s change to mortgage lending qualification rules this year meant many consumers lost 2 per cent of their purchasing power, which contributed to slowing down the pace of the market. On a municipal level, we saw many councils activating how they can influence affordable housing by leveraging current land assets, acquiring new land and creating partnerships to bring new affordable units to market - and that s a very exciting thing for our market in the long term. The provincial government has also promised huge investments into new affordable developments. These developments are important to the long-term growth of our community, because the only way to make more affordable housing in our area is to build it. There were,988 active listings for sale on the Victoria Real Estate Board Multiple Listing Service at the end of December 28, a decrease of 5.2 per cent compared to the month of November but 43.6 per cent more than the,384 active listings for sale at the end of December 27. The Multiple Listing Service Home Price Index benchmark value for a single family home in the Victoria Core in December 27 was $832,. The benchmark value for the same home in December 28 increased by 3.2 per cent to $858,6, lower than November s value of $865,2. The MLS HPI benchmark value for a condominium in the Victoria Core area in December 27 was $464,3, while the benchmark value for the same condominium in December 28 increased by 8.2 per cent to $52,4, slightly more than November's value of $5,5. (cont d) VICTORIA REAL ESTATE BOARD 335 Nanaimo Street Victoria, BC V8T 4W2 T F
2 The market in 29 will continue to be quieter than in previous years, as buyers and sellers adjust to new market conditions and government policies, adds President Kerr. Inventory is still quite low when you look at a longer range, which will continue to put pressure on pricing. Our overall economy is predicted to slow slightly, and that will likely mean a slower increase in interest rates but also slower growth. The good news is that savvy buyers will have more time to find their new homes, and that sellers will be under less pressure if they are planning to move within our market. Remember in evolving markets like ours, it s important to enlist the services of a REALTOR to help you navigate what may be your largest transaction ever. About the Victoria Real Estate Board Founded in 92, the Victoria Real Estate Board is a key player in the development of standards and innovative programs to enhance the professionalism of Realtors. The Victoria Real Estate Board represents,377 local Realtors. If you are thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing market. Contact: Denise Hogue, Communications Manager - denise@vreb.org, VICTORIA REAL ESTATE BOARD 335 Nanaimo Street Victoria, BC V8T 4W2 T F
3 December 28 Statistics Package for Media Previous Periods Comparison of Unit Sales, Average Prices and Median Prices Sales by Property Type Single Family Greater Victoria Single Family Other Areas Single Family Total All Areas Condos Townhouses Manufactured Homes Total Residential Total Sales Units LM LY This Month Last Month This Month 28 - December 28 - November 27 - December Average$ LM LY Median$ LM LY Units Average$ Median$ Units Average$ Median$ $9, $775, $85,48 $77, 2 $85,562 $746, $652,363 $87,333 $472,62 $676,8 $28, $527,5 $76, $422,5 $55,5 $4, $67,92 $826,988 $536,575 $629,29 $93,45 $592,45 $755, $42, $575, $6, $565,35 $88,66 $449,46 $572,858 $53,28 $465, $727,85 $388,4 $525, $73,75 Active Listings, ,343,384 Legend Units: net number of listings sold LM: percentage change since Last Month LY: percentage change since This Month Average$: average selling price Median$: median selling price Active Listings: total listings on the market at midnight on the last day of the month Previous Periods Comparison of MLS HPI Benchmark Prices and MLS HPI Index Values Previous Periods Comparison of MLS HPI Benchmark Prices and MLS HPI Index Values Commonly Quoted Benchmark Home December 28 Benchmark Price November 28 Benchmark Price December 27 Benchmark Price December 28 Index Value November 28 Index Value December 27 Index Value LM LY Single Family Benchmark Home: Greater Victoria $75,7 $754,6 $75, Single Family Benchmark Home: Core $858,6 $865,2 $832, Single Family Benchmark Home: Westshore $63,7 $623,3 $585, Single Family Benchmark Home: Peninsula $775,9 $778,6 $754, Condo Benchmark Home: Greater Victoria $495,4 $493,4 $456, Townhouse Benchmark Home: Greater Victoria $584,6 $583,2 $56, Legend Current Month: December 28 Last Month: November 28 : December 27 LM: Percentage change between current month and last month LY: Percentage change between current month and same month last year Victoria Real Estate Board December 28 Statistics
4 Total new MLS listings and total MLS sales for entire district Sales to Active Listings Ratio Dec 26 Jan 27 Feb 27 Mar 27 Apr 27 May 27 Jun 27 Jul 27 Aug 27 Sep 27 Oct 27 Nov 27 Dec 27 Jan 28 Feb 28 Mar 28 Apr 28 May 28 Jun 28 Jul 28 Aug 28 Sep 28 Oct 28 Nov 28 Dec 28 This chart tracks the ratio of total residential sales over total active residential listings at month-end for each of the last 25 months. The active listing count and the sales count can be viewed as indicators of housing supply and demand respectively. Observing the ratio between them can thus help indicate a "buyers' market", where there is downward pressure on prices, and a "sellers' market", where there is upward pressure on prices. - below, there is downward pressure on prices (buyers' market) - above 25, there is upward pressure on prices (sellers' market) - in the 5-2 range, there is little pressure on prices either way (balanced market) Victoria Real Estate Board December 28 Statistics
5 MLS HPI benchmark and value - Single Family Homes The Victoria Real Estate Board uses the MLS Home Price Index (MLS HPI) to report on market trends. The MLS HPI uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Through the analysis of over ten years of Victoria Real Estate Board MLS sales data, the MLS HPI defined benchmark homes for Victoria in each category (single family homes, townhouses, condos) and for each neighbourhood. The benchmark starting point was 25, where each type of property and neighbourhood was assigned an index value of. Victoria Real Estate Board December 28 Statistics
6 MLS HPI benchmark and value - Condominium / Apartments Victoria Real Estate Board December 28 Statistics
7 HPI or Benchmark (Applies to all tabs) HPI Benchmark Value or percent change (Applies only to this tab) Value Percent change Area VREB District Summary Property Type Single Family - All Benchmark by Timeframe and Property Type: Single Family - All Victoria REB Victoria Victoria West Oak Bay Esquimalt View Royal Saanich East Saanich West Sooke Langford Metchosin Colwood Highlands North Saanich Sidney Central Saanich ML Malahat & Area GI Gulf Islands December 28 Month Ago 3 Months Ago 6 Months Ago 2 Months Ago 36 Months Ago 6 Months Ago January 25 $75,7 $825,7 $875, $95, $838, $92, $754,6 $834,6 $66,2 $657,4 $,29,9 $638,5 $73,7 $753, $682,3 $646,8 $744,2 $63,9 $744, $882, $748, $538, $529,8 $99, $97,2 $684,6 $826,8 $94,7 $758,9 $768,2 $848, $674, $645,7 $748,9 $9,3 $755,4 $634, $625,3 $632,4 $572,4 $58,5 $642,9 $695, $865,7 $966,4 $67,5 $767, $769,6 $87,8 $678,6 $662,6 $747, $99,2 $766,4 $636, $95, $76,5 $828,5 $97,8 $683, $735,7 $75,2 $788,9 $6,3 $,245,2 $,35,3 $,298,7 $,26, $584,7 $58,8 $59,9 $599,2 $5,9 $54,2 $577,5 $477,4 $599,8 $689,4 $86, $75, $477,6 $589,4 $85, $663, $87, $892,8 $623, $729,2 $526, $446,8 $54,3 $65,7 $463, $848,4 $466,5 $58,4 $635,6 $57,6 $359,7 $442,9 $624,4 $489, $623,2 $688, $484, $544, $43,5 $486,2 $59,5 $426,5 $744, $432,7 $5,2 $56,6 $492,9 $35,8 $49,3 $644,4 $448,3 $579,5 $62,8 $422, $49,2 $34, $35,2 $34,9 $357,8 $37,6 $283, $552, $286,7 $33,8 $394,5 $333, $264,9 $39,7 $455,4 $337, $437,7 $487,3 $32,5 $356,9 $285,8 $29,5 Source: Victoria Real Estate Board
8 HPI or Benchmark (Applies to all tabs) HPI Benchmark Value or percent change (Applies only to this tab) Value Percent change Area VREB District Summary Property Type Single Family - All HPI by Timeframe and Property Type: Single Family - All Victoria REB Victoria Victoria West Oak Bay Esquimalt View Royal Saanich East Saanich West Sooke Langford Metchosin Colwood Highlands North Saanich Sidney Central Saanich ML Malahat & Area GI Gulf Islands December 28 Month Ago 3 Months Ago 6 Months Ago 2 Months Ago 36 Months Ago 6 Months Ago January Source: Victoria Real Estate Board
9 HPI or Benchmark (Applies to all tabs) HPI Benchmark Value or percent change (Applies only to this tab) Value Percent change Area VREB District Summary Property Type Condo Apartment Benchmark by Timeframe and Property Type: Condo Apartment December 28 Month Ago 3 Months Ago 6 Months Ago 2 Months Ago 36 Months Ago 6 Months Ago January 25 Victoria REB $495,4 $493,4 $495, $498,3 $456,5 $37,5 $287,4 $26,2 Victoria $466,5 $462,5 $468,4 $47,5 $429, $292, $265,4 $9, Victoria West $767,6 $776,8 $784,9 $82,5 $758,5 $548,4 $429,2 $338,8 Oak Bay $558,5 $557,5 $58,5 $553,7 $5,6 $342, $37,3 $253, Esquimalt $348,8 $348,8 $352,4 $365,8 $342,9 $263, $226,6 $55,7 View Royal $478,3 $476, $476, $472,6 $446,3 $333,3 $33, $27,7 Saanich East $43,9 $432,8 $425,8 $429,2 $386,8 $266,4 $249,2 $69,7 Saanich West $42,8 $42,7 $44, $423,8 $386, $266,3 $242, $62,5 Langford $392,5 $39,4 $387,7 $382,6 $359, $259,3 $248,9 $77,4 Colwood $42,9 $4,4 $46,6 $48,9 $37,9 $263,8 $252,2 $66,8 Sidney $489,2 $487,2 $487,4 $483,6 $435,9 $298,9 $269, $2,8 Central Saanich $489,4 $483,7 $486,6 $482,5 $437,5 $33,9 $279,2 $25,3 Source: Victoria Real Estate Board
10 HPI or Benchmark (Applies to all tabs) HPI Benchmark Value or percent change (Applies only to this tab) Value Percent change Area VREB District Summary Property Type Condo Apartment HPI by Timeframe and Property Type: Condo Apartment December 28 Month Ago 3 Months Ago 6 Months Ago 2 Months Ago 36 Months Ago 6 Months Ago January 25 Victoria REB Victoria Victoria West Oak Bay Esquimalt View Royal Saanich East Saanich West Langford Colwood Sidney Central Saanich Source: Victoria Real Estate Board
11 HPI or Benchmark (Applies to all tabs) HPI Benchmark Value or percent change (Applies only to this tab) Value Percent change Area VREB District Summary Property Type Townhouse Benchmark by Timeframe and Property Type: Townhouse December 28 Month Ago 3 Months Ago 6 Months Ago 2 Months Ago 36 Months Ago 6 Months Ago January 25 Victoria REB $584,6 $583,2 $586,9 $588,9 $56,9 $46, $38,2 $284,3 Victoria $622,6 $624,6 $62,6 $68,5 $58, $45, $397, $287,7 Victoria West $648,2 $66, $623,7 $634,6 $599,9 $426, $398,2 $247,6 Esquimalt $529,5 $52,3 $528, $53,8 $59,6 $367,3 $343,9 $234,7 View Royal $636, $68,7 $63,7 $62,6 $64, $423,5 $385, $265,3 Saanich East $73,4 $728,4 $78,9 $743,4 $688, $52,4 $463, $34, Saanich West $584,4 $578,8 $562,4 $593,5 $548, $4,5 $374,2 $268,8 Sooke $452,5 $449,9 $493,4 $467,8 $48,4 $38,3 $37,8 $256, Langford $479,4 $48,4 $52, $492,2 $49,4 $332,9 $323,5 $26,5 Colwood $587,2 $594,9 $636,4 $64, $632,7 $47,2 $387, $334,6 Sidney $585,8 $592,3 $557,5 $64,7 $55,2 $48, $366,6 $269,6 Central Saanich $523,4 $524,9 $497,7 $542, $484,4 $36,2 $323,3 $245,5 ML Malahat & Area $545,6 $56,9 $559,5 $534,7 $475,6 $362,4 $324,8 $295,6 GI Gulf Islands $469,3 $482, $485, $466,5 $429,2 $343,2 $325,3 $33,7 Source: Victoria Real Estate Board
12 HPI or Benchmark (Applies to all tabs) HPI Benchmark Value or percent change (Applies only to this tab) Value Percent change Area VREB District Summary Property Type Townhouse HPI by Timeframe and Property Type: Townhouse December 28 Month Ago 3 Months Ago 6 Months Ago 2 Months Ago 36 Months Ago 6 Months Ago January 25 Victoria REB Victoria Victoria West Esquimalt View Royal Saanich East Saanich West Sooke Langford Colwood Sidney Central Saanich ML Malahat & Area GI Gulf Islands Source: Victoria Real Estate Board
13 HPI or Benchmark (Applies to all tabs) HPI Benchmark Area VREB Area Summary Benchmark Performance over Time Select Date Range: All values Area/Property Type Selection Tool To Select Multiple Options: Hold CTRL and click the selections below Property Type Benchmark ($) 8, 6, 4, Select the red marker(s) from the Area/Property Type Selection Tool Matrix on the right to graph your selection. Area Victoria REB Core Single Family - All Single Family - Storey Single Family - 2 Storey Townhouse Condo Apartment Composite Westshore Jan 26 Jan 28 Jan 2 Jan 22 Jan 24 Jan 26 Jan 28 Peninsula Core Single Family - All Peninsula Single Family - All Victoria REB Single Family - All Westshore Single Family - All Gulf Islands Source: Victoria Real Estate Board Malahat & Area
14 HPI or Benchmark (Applies to all tabs) HPI Benchmark Area VREB Area Summary Benchmark Performance over Time Select Date Range: All values Benchmark ($) 5, 4, 3, 2, Select the red marker(s) from the Area/Property Type Selection Tool Matrix on the right to graph your selection. Area/Property Type Selection Tool To Select Multiple Options: Hold CTRL and click the selections below Area Victoria REB Core Single Family - All Single Family - Storey Property Type Single Family - 2 Storey Townhouse Condo Apartment Composite Westshore Jan 26 Jan 28 Jan 2 Jan 22 Jan 24 Jan 26 Jan 28 Peninsula Core Condo Apartment Peninsula Condo Apartment Victoria REB Condo Apartment Westshore Condo Apartment Gulf Islands Source: Victoria Real Estate Board Malahat & Area
15 HPI or Benchmark (Applies to all tabs) HPI Benchmark Area VREB Area Summary Benchmark Performance over Time Select Date Range: All values Area/Property Type Selection Tool To Select Multiple Options: Hold CTRL and click the selections below Property Type Benchmark ($) 6, 5, 4, 3, Select the red marker(s) from the Area/Property Type Selection Tool Matrix on the right to graph your selection. Area Victoria REB Core Single Family - All Single Family - Storey Single Family - 2 Storey Townhouse Condo Apartment Composite Westshore Jan 26 Jan 28 Jan 2 Jan 22 Jan 24 Jan 26 Jan 28 Peninsula Core Townhouse Peninsula Townhouse Victoria REB Townhouse Westshore Townhouse Gulf Islands Source: Victoria Real Estate Board Malahat & Area
16 HPI or Benchmark (Applies to all tabs) HPI Benchmark Area VREB Area Summary Benchmark Performance over Time Select Date Range: All values 8, Area/Property Type Selection Tool To Select Multiple Options: Hold CTRL and click the selections below Property Type Benchmark ($) 6, 4, Select the red marker(s) from the Area/Property Type Selection Tool Matrix on the right to graph your selection. Area Victoria REB Core Single Family - All Single Family - Storey Single Family - 2 Storey Townhouse Condo Apartment Composite 2, Westshore Jan 26 Jan 28 Jan 2 Jan 22 Jan 24 Jan 26 Jan 28 Peninsula Source: Victoria Real Estate Board Victoria REB Condo Apartment Single Family - All Townhouse Gulf Islands Malahat & Area
17 Monthly Sales Summary Tuesday, January, 29 December 28 Region District Residential Single Family Greater Victoria Units Total Volume Victoria $7,58, Victoria West 3 $2,55, Oak Bay $7,849,999 Esquimalt 4 $3,862, View Royal 5 $3,557,3 Saanich East 3 $26,9,88 Saanich West 6 $,956,5 Central Saanich 9 $8,23,5 North Saanich 6 $8,35, Sidney 4 $2,824,9 Highlands $78, Colwood 5 $3,993,7 Langford 3 $23,55,599 Metchosin 2 $2,5, Sooke 2 $6,477, Waterfront (all districts) 5 $8,58,656 Total Greater Victoria 53 $37,92,242 Other Areas Shawnigan Lake / Malahat 4 $2,4, Gulf Islands 6 $3,849, UpIsland / Mainland 7 $3,73,395 Waterfront (all districts) 4 $4,663,223 Total Other Areas 2 $3,699,68 Total Single Family 74 $5,6,86 Condominium Greater Victoria Victoria 32 $4,427,65 Victoria West 4 $2,482,5 Oak Bay 6 $2,655, Esquimalt 5 $,9,8 View Royal 4 $,686,5 Saanich East 5 $9,56,443 Saanich West 4 $,63,7 Central Saanich 4 $,663,795 North Saanich $629,9 Sidney 7 $3,588,9 Colwood 2 $762,5 Langford 3 $4,69,388 Sooke 2 $58, Waterfront (all districts) 4 $2,823, Total Greater Victoria 3 $48,679,76 Total Condominium 3 $48,679,76 Victoria Real Estate Board Multiple Listing Service
18 Monthly Sales Summary Tuesday, January, 29 December 28 Region District Townhouse Greater Victoria Units Total Volume Victoria 9 $6,845,399 Esquimalt $34, View Royal 2 $965, Saanich East 8 $6,32,6 Saanich West $485, Central Saanich $479,9 Sidney 3 $3,286,5 Langford $5,395,397 Sooke $435, Total Greater Victoria 36 $24,364,796 Total Townhouse 36 $24,364,796 Manufactured Homes Greater Victoria View Royal 3 $43,25 Langford 3 $457,5 Sooke 4 $445, Total Greater Victoria $,35,75 Other Areas Gulf Islands $26, UpIsland / Mainland $2, Total Other Areas 2 $238, Total Manufactured Homes 2 $,543,75 Total Residential 325 $226,99,482 Victoria Real Estate Board Multiple Listing Service 2
19 Monthly Sales Summary Tuesday, January, 29 December 28 Region District Other Property Lots & Acreage (Incl Wtrfrnt) Greater Victoria Units Total Volume Oak Bay $,95,285 Sidney $44, Langford 28 $7,694,967 Sooke 5 $,379,9 Total Greater Victoria 35 $,439,52 Other Areas Gulf Islands 3 $35, UpIsland / Mainland $55, Total Other Areas 4 $83, Total Lots & Acreage (Incl Wtrfrnt) 39 $2,269,52 Other Commercial Properties $3,32,289 Grand Totals 375 $24,78,923 Victoria Real Estate Board Multiple Listing Service 3
20 Active Listings, New Listings and Sales December 28 Tuesday, January, 29 4, Total Active MLS Listings 3,8 3,6 3,4 3,2 3, 2,8 2,6 2,4 2,2 2,,8,6,4,2 Dec 26 Jan 27 Feb 27 Mar 27 Apr 27 May 27 Jun 27 Jul 27 Aug 27 Sep 27 Oct 27 Nov 27 Dec 27 Jan 28 Feb 28 Mar 28 Apr 28 May 28 Jun 28 Jul 28 Aug 28 Sep 28 Oct 28 Nov 28 Dec 28 Total New MLS Listings and Total MLS Sales 2,,8,6,4,2, Dec 26 Jan 27 Feb 27 Mar 27 Apr 27 May 27 Jun 27 Jul 27 Aug 27 Sep 27 Oct 27 Nov 27 Dec 27 Jan 28 Feb 28 Mar 28 Apr 28 May 28 Jun 28 Jul 28 Aug 28 Sep 28 Oct 28 Nov 28 Dec 28 Listings Sales Victoria Real Estate Board Multiple Listing Service
21 Sales to Active Listings Ratio December 28 Tuesday, January, Dec 26 Jan 27 Feb 27 Mar 27 Apr 27 May 27 Jun 27 Jul 27 Aug 27 Sep 27 Oct 27 Nov 27 Dec 27 Jan 28 Feb 28 Mar 28 Apr 28 May 28 Jun 28 Jul 28 Aug 28 Sep 28 Oct 28 Nov 28 Dec 28 The Sales to Active Listings Ratio This chart tracks the ratio of total residential sales over total active residential listings at month-end for each of the last 25 months. The active listing count and the sales count can be viewed as indicators of housing supply and demand respectively. Observing the ratio between them can thus help indicate a "buyers' market", where there is sustained downward pressure on prices, and a "sellers' market", where there is sustained upward pressure on prices. Based on a regression analysis performed by the Economics Department of the BC Real Estate Association in each market area of the province, the Sales to Active Listings Ratio for Victoria can be interpreted as follows: - below 4, there is downward pressure on prices (buyers' market) - above 2, there is upward pressure on prices (sellers' market) - in the 4-2 range, there is little pressure on prices either way (balanced market) Victoria Real Estate Board Multiple Listing Service
22 Monthly Comparative Activity By Property Type January--9 December 28 Single Family - Residential Units Listed 43 Units Sold 47 Sell/List Ratio 3 Sales Dollars $22,864,8 Average Price / Unit $835,8 Price Ratio 97 Days To Sell 5 Active Listings at Month End 648 Current Month $6,394,823 $794, Change $2,545,637,439 $84, Year To Date $3,4,43,657 $79, Change Single Family - Residential Waterfront Units Listed 2 Units Sold 8 Sell/List Ratio 67 Sales Dollars $2,882,629 Average Price / Unit $,6,329 Price Ratio 92 Days To Sell 3 Active Listings at Month End $,77, $,96, $276,9,267 $,65, $38,749,26 $,362, Single Family - Residential Acreage Units Listed Units Sold 2 Sell/List Ratio 2 Sales Dollars $,28, Average Price / Unit $927,333 Price Ratio 95 Days To Sell 26 Active Listings at Month End $7,976,5 $,57, $276,777,283 $964, $374,97,884 $,7, Condominium Units Listed 95 Units Sold 3 Sell/List Ratio 8 Sales Dollars $48,679,76 Average Price / Unit $472,62 Price Ratio 98 Days To Sell 36 Active Listings at Month End $6,26,569 $449, $,9,72,74 $47, $,69,837,32 $42, Victoria Real Estate Board Multiple Listing Service
23 Monthly Comparative Activity By Property Type January--9 December 28 Townhouse Units Listed 34 Units Sold 36 Sell/List Ratio 6 Sales Dollars $24,364,796 Average Price / Unit $676,8 Price Ratio 98 Days To Sell 5 Active Listings at Month End 67 Current Month $23,487,68 $572, Change $474,29,58 $598, Year To Date $46,747,884 $536,96 24 Change Strata Duplex (Up and Down) Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End $ $,427, $475, $4,29,5 $589, Strata Duplex (Side by Side) Units Listed 6 Units Sold 5 Sell/List Ratio 83 Sales Dollars $3,557,9 Average Price / Unit $7,58 Price Ratio 97 Days To Sell 3 Active Listings at Month End $2,54,25 $52, $65,222,288 $633, $57,838,978 $545, Strata Duplex (Front and Back) Units Listed 2 Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 4 $397, $397, $9,74,795 $67, $5,839,8 $586, Victoria Real Estate Board Multiple Listing Service 2
24 Monthly Comparative Activity By Property Type January--9 December 28 Recreational Units Listed Units Sold Sell/List Ratio Sales Dollars $299,25 Average Price / Unit $299,25 Price Ratio 94 Days To Sell 25 Active Listings at Month End 4 Current Month $4, $4, Change $2,53,65 $5, Year To Date $4,589, $269, Change Manufactured Home Units Listed Units Sold 2 Sell/List Ratio 9 Sales Dollars $,543,75 Average Price / Unit $28,646 Price Ratio 93 Days To Sell 43 Active Listings at Month End $,838,5 $53, $35,363,5 $229, $35,369,273 $86, Residential Lots Units Listed 42 Units Sold 34 Sell/List Ratio 8 Sales Dollars $9,28,867 Average Price / Unit $268,496 Price Ratio 2 Days To Sell 37 Active Listings at Month End $3,234,25 $294, $44,7,54 $32, $62,32,29 $33, Residential Lots - Waterfront Units Listed 2 Units Sold Sell/List Ratio 5 Sales Dollars $,95,285 Average Price / Unit $,95,285 Price Ratio 98 Days To Sell Active Listings at Month End 7 4 $ $5,87,785 $72, $6,29,8 $37, Victoria Real Estate Board Multiple Listing Service 3
25 Monthly Comparative Activity By Property Type January--9 December 28 Residential Acreage Units Listed 3 Units Sold 3 Sell/List Ratio Sales Dollars $645, Average Price / Unit $25, Price Ratio 92 Days To Sell 39 Active Listings at Month End 74 Current Month $4,525, $754, Change $33,788,788 $433, Year To Date $4,64,33 $385, Change Residential Acreage - Waterfront Units Listed Units Sold Sell/List Ratio Sales Dollars $545, Average Price / Unit $545, Price Ratio 9 Days To Sell 85 Active Listings at Month End $,562, $78, $5,65, $798, $6,325,9 $583, Revenue - Duplex/Triplex Units Listed Units Sold Sell/List Ratio Sales Dollars $88, Average Price / Unit $88, Price Ratio 95 Days To Sell 8 Active Listings at Month End $,789, $894, $24,73,4 $989, $49,35,26 $949, Revenue - Multi Units Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 2 $3,45, $,522, $,744,999 $,677, $29,582,5 $,479, Victoria Real Estate Board Multiple Listing Service 4
26 Monthly Comparative Activity By Property Type January--9 December 28 Revenue - Apartment Block Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 6 Current Month $ Change $8,9, $2,227, Year To Date $8,27, $2,756, Change Revenue - Commercial Units Listed 5 Units Sold 5 Sell/List Ratio Sales Dollars $3,2, Average Price / Unit $64, Price Ratio 92 Days To Sell 46 Active Listings at Month End $5,38, $,327, $2,94,876 $4,475, $23,468,7 $733, Revenue - Industrial Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End $ $ $ Business with Land & Building Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End $557,4 $278, $24,49,65 $83, $9,987,46 $384, Victoria Real Estate Board Multiple Listing Service 5
27 Monthly Comparative Activity By Property Type January--9 December 28 Business Only Units Listed 9 Units Sold 4 Sell/List Ratio 44 Sales Dollars $292,25 Average Price / Unit $73,63 Price Ratio 59 Days To Sell 255 Active Listings at Month End 79 Current Month $268, $67, Change $2,635,55 $79,85 74 Year To Date $3,857,25 $48, Change Motel/Hotel Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End $ 2 $ 9 $3,, $3,, Lease - Office Units Listed Units Sold Sell/List Ratio Sales Dollars $9 Average Price / Unit $9 Price Ratio Days To Sell 9 Active Listings at Month End $27 $ $,674 $ $25,652 $2, Lease - Retail Units Listed 2 Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End $27 $ $2,362 $ $65,444 $9, Victoria Real Estate Board Multiple Listing Service 6
28 Monthly Comparative Activity By Property Type January--9 December 28 Lease - Warehouse Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End Current Month $ Change $ Year To Date $ $ 42 Change Lease - Industrial Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End $ 2 2 $3 $5 2 $7 $ Lease - Other Units Listed 3 Units Sold Sell/List Ratio 33 Sales Dollars $2 Average Price / Unit $2 Price Ratio Days To Sell 67 Active Listings at Month End $4 $ $4,286 $26, $285 $ Commercial Land Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 6 $35, $35, $,4, $,4, $2,235, $2,23, Victoria Real Estate Board Multiple Listing Service 7
29 Monthly Comparative Activity By Property Type January--9 December 28 Current Month Change Year To Date Change Grand Totals Units Listed 384 Units Sold 375 Sell/List Ratio 98 Sales Dollars $24,78,923 Average Price / Unit $644,749 Price Ratio 97 Days To Sell 52 Active Listings at Month End $299,48,528 $647, $4,992,863,965 $698, $5,72,393,822 $639, Victoria Real Estate Board Multiple Listing Service 8
September 4, Victoria s Real Estate Market Simmers at the End of Summer
PRESIDENT Kyle Kerr PRESIDENT ELECT Cheryl Woolley SECRETARY TREASURER David Langlois PAST PRESIDENT Ara Balabanian DIRECTORS Jackie Adkins Sandi-Jo Ayers Bill Ethier Karen Dinnie-Smyth Andrew Plank EXECUTIVE
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August, 28 PRESIDENT Kyle Kerr PRESIDENT ELECT Cheryl Woolley SECRETARY TREASURER David Langlois PAST PRESIDENT Ara Balabanian DIRECTORS Jackie Adkins Sandi-Jo Ayers Bill Ethier Karen Dinnie-Smyth Andrew
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