September 4, Victoria s Real Estate Market Simmers at the End of Summer

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1 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 OFFICER David Corey September 4, 8 Victoria s Real Estate Market Simmers at the End of Summer A total of 594 properties sold in the Victoria Real Estate Board region this August, 9.3 per cent fewer than the 736 properties sold in August of last year, and an 8.8 per cent decrease from July 8. Sales of condominiums were down 5.3 per cent from last year in August with 95 units sold. Sales of single family homes were down. per cent from 7 with 34 sold this August. Prices in our market are quite flat right now, with a slow, long-term trend toward a more balanced market, says Victoria Real Estate Board President Kyle Kerr. Listings have remained relatively static for months after an initial increase last spring. However, this plateau has included more high value inventory and similar to last month, fewer single family homes for sale under $75,. Thirty per cent fewer homes this year were listed for sale at $75, or less than in the year previous, which means there is still pressure on lower priced homes in the Core and other popular areas. We do see a levelling out of prices month-over-month which is one factor helping to slowly return us to a more balanced market. There were a total of,59 active listings for sale on the Victoria Real Estate Board Multiple Listing Service at the end of August 8, a decrease of 3.4 per cent compared to the month of July but 3.4 per cent more than the,97 active listings for sale at the end of August 7. Many demand-side measures were introduced this year including a stress test on mortgages - which altered many buyers purchasing power, adds President Kerr. These new policies are having the desired effect of slowing the market, though it is likely that over time the market will normalize these changed conditions. Our strong local economy and high employment rates may bolster demand into the fall as people return to work after their summer vacations. Fall numbers will be an interesting indicator of our year to come as we continue to track low home inventory in a changing marketplace. For an up-to-the-minute understanding of your local market as fall sales unfold, connect with your local REALTOR. The Multiple Listing Service Home Price Index benchmark value for a single family home in the Victoria Core in August 7 was $83,8, while the benchmark value for the same home in August 8 increased by 6.9 per cent to $888,3, slightly lower than July s value of $888,7. The MLS HPI benchmark value for a condominium in the Victoria Core area in August 7 was $453,9, while the benchmark value for the same condominium in August 8 increased by.8 per cent to $53,, slightly lower than July s value of $57,7. About the Victoria Real Estate Board Founded in 9, 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,378 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: Communications Manager, Denise Hogue - / Victoria Real Estate Board VICTORIA REAL ESTATE BOARD 335 Nanaimo Street Victoria, BC V8T 4W T F

2 August 8 Statistics Package for Media -Sep-8 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 8 - August 8 - July 7 - August Average$ LM LY Median$ LM LY Units Average$ Median$ Units Average$ Median$ $937, $779, $99,543 $8, 339 $83,883 $749,9 $6,3 $89,497 $465,673 $66,873 $349, $547,5 $76,75 $45, $5, $8, $6,459 $88,44 $47,473 $55,7 $5,385 $53,5 $779,5 $45, $5, $, $656,387 $88,933 $44,637 $556,84 $,969 $59,9 $73,75 $367,5 $57,55 $96, Active Listings, ,67,97 Legend Units: net number of listings sold LM: percentage change since Last Month LY: percentage change since This Month Average$: 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 August 8 Benchmark Price July 8 Benchmark Price August 7 Benchmark Price August 8 Index Value July 8 Index Value August 7 Index Value LM LY Single Family Benchmark Home: Greater Victoria $766, $766, $76, Single Family Benchmark Home: Core $888,3 $888,7 $83, Single Family Benchmark Home: Westshore $64,8 $63,9 $587, Single Family Benchmark Home: Peninsula $79,8 $79, $76, Condo Benchmark Home: Greater Victoria $494, $497,7 $446, Townhouse Benchmark Home: Greater Victoria $587, $58,8 $549, Legend Current Month: August 8 Last Month: July 8 : August 7 LM: Percentage change between current month and last month LY: Percentage change between current month and same month last year Victoria Real Estate Board August 8 Statistics

3 Total new MLS listings and total MLS sales for entire district Sales to Active Listings Ratio Aug 6 Sep 6 Oct 6 Nov 6 Dec 6 Jan 7 Feb 7 Mar 7 Apr 7 May 7 Jun 7 Jul 7 Aug 7 Sep 7 Oct 7 Nov 7 Dec 7 Jan 8 Feb 8 Mar 8 Apr 8 May 8 Jun 8 Jul 8 Aug 8 This chart tracks the ratio of total residential sales over total active residential listings at month-end for each of the last 5 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 5, there is upward pressure on prices (sellers' market) - in the 5- range, there is little pressure on prices either way (balanced market) Victoria Real Estate Board August 8 Statistics

4 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 5, where each type of property and neighbourhood was assigned an index value of. Victoria Real Estate Board August 8 Statistics

5 MLS HPI benchmark and value - Condominium / Apartments Victoria Real Estate Board August 8 Statistics

6 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 August 8 Month Ago 3 Months Ago 6 Months Ago Months Ago 36 Months Ago 6 Months Ago January 5 $766, $766, $764, $856, $859,9 $853,6 $676,6 $75,6 $9,6 $9,7 $9,5 $877,4 $76,7 $763,7 $754,4 $954, $687,7 $96,7 $968, $83, $95,3 $84, $843,8 $86,8 $83,3 $947,9 $949,8 $98,5 $97,4 $753, $679,5 $738,4 $743, $66,9 $656,3 $657,4 $643,4 $733,4 $635,5 $63, $635, $7,6 $7,8 $73,9 $69,8 $67,5 $697,3 $7, $6,7 $665, $66, $667, $698,5 $657,4 $738, $737,4 $76,6 $799, $63, $,3,9 $,65, $,94,9 $,4, $,78,4 $54,7 $578,7 $584,9 $576,4 $56,8 $57, $495,8 $54,7 $495,9 $54,4 $6,4 $676,5 $858, $73, $48,3 $59,5 $864,8 $66,4 $85,8 $97,9 $64,9 $78,9 $5,6 $46, $43,5 $458, $53,3 $583,4 $447,7 $846,7 $45, $54,4 $6,9 $57,6 $437,3 $63,9 $478,7 $638,6 $67, $466, $543,6 $494, $543,7 $45,4 $739, $4,8 $49,9 $567,7 $489,6 $354,7 $349, $398,9 $348, $46,5 $67, $456,4 $69, $6, $4, $53,6 $36,8 $336,9 $357,8 $37,6 $83, $55, $86,7 $33,8 $394,5 $333, $64,9 $39,7 $455,4 $337, $437,7 $487,3 $3,5 $356,9 $85,8 $9,5 Source: Victoria Real Estate Board

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 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 August 8 Month Ago 3 Months Ago 6 Months Ago Months Ago 36 Months Ago 6 Months Ago January 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 Condo Apartment Benchmark by Timeframe and Property Type: Condo Apartment August 8 Month Ago 3 Months Ago 6 Months Ago Months Ago 36 Months Ago 6 Months Ago January 5 Victoria REB $494, $497,7 $497,9 $474,8 $446, $39,5 $9,3 $6, Victoria $465, $468,4 $47,3 $45, $4,4 $8,5 $64,7 $9, Victoria West $78,5 $86,6 $88,4 $783,9 $747,6 $53, $449, $338,8 Oak Bay $58, $569, $533,4 $53,8 $486,9 $33,8 $346, $53, Esquimalt $347,7 $357,4 $367,9 $35,7 $336, $58,6 $4,8 $55,7 View Royal $469,8 $47,5 $484,8 $458,7 $47,6 $38,5 $3,5 $7,7 Saanich East $434, $436, $49,4 $4, $374,9 $63,5 $59, $69,7 Saanich West $43,3 $47, $49,7 $44,3 $376,5 $67, $48,4 $6,5 Langford $384, $383,7 $395,7 $37, $343,7 $56,5 $5,6 $77,4 Colwood $398, $399,6 $4, $38,7 $363,5 $59, $54,6 $66,8 Sidney $48,7 $479, $48,7 $45,3 $433,9 $97,3 $67, $,8 Central Saanich $485,5 $48, $48, $45,7 $434,6 $3,7 $78,8 $5,3 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 HPI by Timeframe and Property Type: Condo Apartment August 8 Month Ago 3 Months Ago 6 Months Ago Months Ago 36 Months Ago 6 Months Ago January 5 Victoria REB Victoria Victoria West Oak Bay Esquimalt View Royal Saanich East Saanich West Langford Colwood Sidney Central Saanich 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 Townhouse Benchmark by Timeframe and Property Type: Townhouse August 8 Month Ago 3 Months Ago 6 Months Ago Months Ago 36 Months Ago 6 Months Ago January 5 Victoria REB $587, $58,8 $588,9 $555, $549,9 $46,9 $39,7 $84,3 Victoria $66, $6,9 $68,5 $577,4 $586,3 $49,7 $395, $87,7 Victoria West $633,6 $63,4 $63,4 $6,4 $566,3 $49, $43,5 $47,6 Esquimalt $535,6 $54, $59, $57,8 $488,4 $355,6 $353,5 $34,7 View Royal $64, $67,4 $63,8 $65, $588, $43,6 $39,4 $65,3 Saanich East $733, $79,7 $74, $68,6 $686,8 $496,8 $476, $34, Saanich West $58, $577, $59,4 $549, $543,8 $398,7 $388,7 $68,8 Sooke $459,6 $456,3 $468,9 $456,3 $43,5 $34, $3,6 $56, Langford $48,7 $478,6 $487,5 $474, $45,6 $34,5 $339, $6,5 Colwood $6, $6,6 $6,3 $6,9 $573,5 $44,5 $45,8 $334,6 Sidney $58, $589,6 $597,9 $537, $55,3 $398,4 $388,7 $69,6 Central Saanich $5,7 $53,7 $534,7 $477,5 $488, $35,3 $338, $45,5 ML Malahat & Area $569,9 $548,9 $539,7 $477,7 $49,4 $369,5 $36,9 $95,6 GI Gulf Islands $489,3 $473, $47,6 $433, $459, $36,4 $35,6 $33,7 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 HPI by Timeframe and Property Type: Townhouse August 8 Month Ago 3 Months Ago 6 Months Ago Months Ago 36 Months Ago 6 Months Ago January 5 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

12 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 - Storey Townhouse Condo Apartment Composite Westshore Jan 6 Jan 8 Jan Jan Jan 4 Jan 6 Jan 8 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

13 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,, 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 - Storey Townhouse Condo Apartment Composite Westshore Jan 6 Jan 8 Jan Jan Jan 4 Jan 6 Jan 8 Peninsula Core Condo Apartment Peninsula Condo Apartment Victoria REB Condo Apartment Westshore Condo Apartment 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 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 - Storey Townhouse Condo Apartment Composite Westshore Jan 6 Jan 8 Jan Jan Jan 4 Jan 6 Jan 8 Peninsula Core Townhouse Peninsula Townhouse Victoria REB Townhouse Westshore Townhouse 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 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 - Storey Townhouse Condo Apartment Composite, Westshore Jan 6 Jan 8 Jan Jan Jan 4 Jan 6 Jan 8 Peninsula Source: Victoria Real Estate Board Victoria REB Condo Apartment Single Family - All Townhouse Gulf Islands Malahat & Area

16 Monthly Sales Summary Sunday, September, 8 August 8 Region District Residential Single Family Greater Victoria Units Total Volume Victoria 3 $8,943, Oak Bay 7 $6,37, Esquimalt 9 $7,8,5 View Royal 4 $,55, Saanich East 47 $44,3,97 Saanich West 8 $5,68,4 Central Saanich 3 $,539,9 North Saanich 9 $,3,33 Sidney $9,366, Highlands $,5, Colwood 8 $3,94,5 Langford 54 $38,84,399 Metchosin 3 $,56,9 Sooke 3 $5,798,85 Waterfront (all districts) 9 $7,8, Total Greater Victoria 59 $4,8,96 Other Areas Shawnigan Lake / Malahat 5 $3,466,9 Gulf Islands $3,57,68 UpIsland / Mainland $6,79,65 Waterfront (all districts) 7 $4,69, Total Other Areas 45 $7,99,43 Total Single Family 34 $7,7,69 Condominium Greater Victoria Victoria 79 $39,377,3 Victoria West $5,47,499 Oak Bay 3 $,44,5 Esquimalt 7 $,73,5 View Royal 5 $,99,3 Saanich East 9 $7,44,9 Saanich West $5,3,9 Central Saanich 4 $,539,9 North Saanich $549,9 Sidney $4,86,3 Langford 34 $3,439,83 Waterfront (all districts) 8 $5,76,4 Total Greater Victoria 9 $9,, Other Areas UpIsland / Mainland $435, Waterfront (all districts) $7, Total Other Areas 3 $75, Total Condominium 95 $9,86, Victoria Real Estate Board Multiple Listing Service

17 Monthly Sales Summary Sunday, September, 8 August 8 Region District Townhouse Greater Victoria Units Total Volume Victoria $9,863,5 Esquimalt 4 $,89,8 View Royal 3 $,77,5 Saanich East 6 $4,59,4 Saanich West 5 $,878, North Saanich $777,5 Sidney 4 $,89, Colwood $89, Langford $9,455,797 Waterfront (all districts) $,75, Total Greater Victoria 57 $35,44,497 Other Areas UpIsland / Mainland $56, Total Other Areas $56, Total Townhouse 59 $35,85,497 Manufactured Homes Greater Victoria View Royal $37,5 Central Saanich $349,9 Sidney $499, Langford $89, Sooke $344, Total Greater Victoria 8 $,789,4 Other Areas Shawnigan Lake / Malahat $47, Gulf Islands $7, UpIsland / Mainland $,5, Total Other Areas 4 $,44, Total Manufactured Homes $4,93,4 Total Residential 57 $4,56,88 Victoria Real Estate Board Multiple Listing Service

18 Monthly Sales Summary Sunday, September, 8 August 8 Region District Other Property Lots & Acreage (Incl Wtrfrnt) Greater Victoria Units Total Volume Saanich East $65, Highlands $435, Colwood $38, Sooke $578,9 Total Greater Victoria 5 $,98,9 Other Areas Gulf Islands 9 $3,648,5 Total Other Areas 9 $3,648,5 Total Lots & Acreage (Incl Wtrfrnt) 4 $5,63,4 Commercial Land Other Commercial Properties $,4, 9 $6,964,39 Grand Totals 594 $45,5,67 Victoria Real Estate Board Multiple Listing Service 3

19 Active Listings, New Listings and Sales August 8 Sunday, September, 8 4, Total Active MLS Listings 3,8 3,6 3,4 3, 3,,8,6,4,,,8,6,4, Aug 6 Sep 6 Oct 6 Nov 6 Dec 6 Jan 7 Feb 7 Mar 7 Apr 7 May 7 Jun 7 Jul 7 Aug 7 Sep 7 Oct 7 Nov 7 Dec 7 Jan 8 Feb 8 Mar 8 Apr 8 May 8 Jun 8 Jul 8 Aug 8 Total New MLS Listings and Total MLS Sales,,8,6,4,, Aug 6 Sep 6 Oct 6 Nov 6 Dec 6 Jan 7 Feb 7 Mar 7 Apr 7 May 7 Jun 7 Jul 7 Aug 7 Sep 7 Oct 7 Nov 7 Dec 7 Jan 8 Feb 8 Mar 8 Apr 8 May 8 Jun 8 Jul 8 Aug 8 Listings Sales Victoria Real Estate Board Multiple Listing Service

20 Sales to Active Listings Ratio August 8 Sunday, September, Aug 6 Sep 6 Oct 6 Nov 6 Dec 6 Jan 7 Feb 7 Mar 7 Apr 7 May 7 Jun 7 Jul 7 Aug 7 Sep 7 Oct 7 Nov 7 Dec 7 Jan 8 Feb 8 Mar 8 Apr 8 May 8 Jun 8 Jul 8 Aug 8 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 5 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, there is upward pressure on prices (sellers' market) - in the 4- range, there is little pressure on prices either way (balanced market) Victoria Real Estate Board Multiple Listing Service

21 Monthly Comparative Activity By Property Type September--8 August 8 Single Family - Residential Units Listed 48 Units Sold 46 Sell/List Ratio 59 Sales Dollars $4,574,834 Average Price / Unit $83,65 Price Ratio 98 Days To Sell 39 Active Listings at Month End 89 Current Month $4,53,73 $765, Change $,855,37,694 $846, Year To Date $,83,35, $786,3 6 Change Single Family - Residential Waterfront Units Listed 6 Units Sold 4 Sell/List Ratio 54 Sales Dollars $3,3, Average Price / Unit $,3,43 Price Ratio 94 Days To Sell 6 Active Listings at Month End $3,388,844 $,349, $88,549,7 $,639, $49,75,4 $,379, Single Family - Residential Acreage Units Listed 45 Units Sold Sell/List Ratio 47 Sales Dollars $9,5,635 Average Price / Unit $99,554 Price Ratio 97 Days To Sell 77 Active Listings at Month End $33,69, $934, $,563,383 $96, $69,65,379 $98, Condominium Units Listed 7 Units Sold 95 Sell/List Ratio 86 Sales Dollars $9,86, Average Price / Unit $465,673 Price Ratio 99 Days To Sell 35 Active Listings at Month End $85,45,33 $44, $734,85,939 $465, $8,6,5 $46, Victoria Real Estate Board Multiple Listing Service

22 Monthly Comparative Activity By Property Type September--8 August 8 Townhouse Units Listed 7 Units Sold 59 Sell/List Ratio 5 Sales Dollars $35,85,497 Average Price / Unit $66,873 Price Ratio 99 Days To Sell 37 Active Listings at Month End 5 Current Month $43,433,5 $556,84 9 Change $344,,86 $589,5 3 Year To Date $339,4,496 $59,75 3 Change -9 4 Strata Duplex (Up and Down) Units Listed Units Sold Sell/List Ratio 5 Sales Dollars $595, Average Price / Unit $595, Price Ratio Days To Sell 5 Active Listings at Month End $87,5 $43, $,4, $5, $,67,5 $44, Strata Duplex (Side by Side) Units Listed Units Sold 6 Sell/List Ratio 33 Sales Dollars $,777,6 Average Price / Unit $673,6 Price Ratio 98 Days To Sell 4 Active Listings at Month End $5,,9 $566, $44,54,6 $66, $47,548,578 $57, Strata Duplex (Front and Back) Units Listed Units Sold Sell/List Ratio Sales Dollars $,397, Average Price / Unit $698,5 Price Ratio Days To Sell 6 Active Listings at Month End $,989,9 $663, $8,7,795 $6, $,54,4 $583, Victoria Real Estate Board Multiple Listing Service

23 Monthly Comparative Activity By Property Type September--8 August 8 Recreational Units Listed Units Sold 3 Sell/List Ratio 5 Sales Dollars $56, Average Price / Unit $7, Price Ratio 96 Days To Sell 8 Active Listings at Month End 9 Current Month 3 33 $63, $63, 84 8 Change $,355,5 $9, Year To Date 5 44 $4,8, $364, Change Manufactured Home Units Listed 3 Units Sold Sell/List Ratio 5 Sales Dollars $4,93,4 Average Price / Unit $349,45 Price Ratio 99 Days To Sell 63 Active Listings at Month End $3,375,5 $, $5,389,8 $48, $3,85,4 $85, Residential Lots Units Listed 53 Units Sold 5 Sell/List Ratio 9 Sales Dollars $,599,4 Average Price / Unit $39,88 Price Ratio 93 Days To Sell 47 Active Listings at Month End $3,43,8 $6, $6,379,998 $338, $46,48,69 $36, Residential Lots - Waterfront Units Listed 3 Units Sold Sell/List Ratio 33 Sales Dollars $5, Average Price / Unit $5, Price Ratio 89 Days To Sell 75 Active Listings at Month End 6 5 $5, $5, $,796,9 $84, $5,678,3 $378, Victoria Real Estate Board Multiple Listing Service 3

24 Monthly Comparative Activity By Property Type September--8 August 8 Residential Acreage Units Listed Units Sold 6 Sell/List Ratio 5 Sales Dollars $,39, Average Price / Unit $398,5 Price Ratio 9 Days To Sell 4 Active Listings at Month End 97 Current Month $3,984,4 $36, Change $6,767,88 $453, Year To Date $3,43,33 $4, Change Residential Acreage - Waterfront Units Listed Units Sold Sell/List Ratio Sales Dollars $,39, Average Price / Unit $695, Price Ratio 74 Days To Sell 86 Active Listings at Month End $,53, $5, $,35, $95, $,589,9 $599, Revenue - Duplex/Triplex Units Listed 4 Units Sold Sell/List Ratio 5 Sales Dollars $,, Average Price / Unit $,, Price Ratio 9 Days To Sell 7 Active Listings at Month End 7 4 $,,5 $,, $9,795,4 $,4, $3,4,6 $945, 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 3 67 $,8, $,4, $8,995, $,799, $,44,5 $,458, Victoria Real Estate Board Multiple Listing Service 4

25 Monthly Comparative Activity By Property Type September--8 August 8 Revenue - Apartment Block Units Listed Units Sold Sell/List Ratio Sales Dollars $,, Average Price / Unit $,, Price Ratio 93 Days To Sell 7 Active Listings at Month End 6 Current Month $ Change 4 36 $8,9, $,7, Year To Date 4 5 $3,88, $3,88, 5 38 Change Revenue - Commercial Units Listed 3 Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End $975, $487, $94,486,876 $6,749, $3,78,7 $656, 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 5 Units Sold 6 Sell/List Ratio Sales Dollars $4,94,39 Average Price / Unit $89,7 Price Ratio 96 Days To Sell 5 Active Listings at Month End $3 $ ######## $7,644,4 $84, $6,454,496 $379, Victoria Real Estate Board Multiple Listing Service 5

26 Monthly Comparative Activity By Property Type September--8 August 8 Business Only Units Listed 8 Units Sold Sell/List Ratio 5 Sales Dollars $5, Average Price / Unit $5, Price Ratio 56 Days To Sell 83 Active Listings at Month End 86 Current Month $8,5 $7, Change $,559,85 $8, Year To Date $,6,5 $47, 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 $ $ 6 7 $3,, $3,, Lease - Office Units Listed 3 Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End $4 $ $,599 $ $83 $ Lease - Retail Units Listed Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End $65,3 $65, $,39 $ $65,38 $6, Victoria Real Estate Board Multiple Listing Service 6

27 Monthly Comparative Activity By Property Type September--8 August 8 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 $ 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 $ $ $7 $ Lease - Other Units Listed 3 Units Sold Sell/List Ratio Sales Dollars $ Average Price / Unit Price Ratio Days To Sell Active Listings at Month End 38 5 $5 $ $393,6 $78, $8 $ Commercial Land Units Listed Units Sold Sell/List Ratio Sales Dollars $,4, Average Price / Unit $,4, Price Ratio 93 Days To Sell 48 Active Listings at Month End $,, $,, $,4, $,4, $,, $,574, Victoria Real Estate Board Multiple Listing Service 7

28 Monthly Comparative Activity By Property Type September--8 August 8 Current Month Change Year To Date Change Grand Totals Units Listed 97 Units Sold 594 Sell/List Ratio 6 Sales Dollars $45,5,67 Average Price / Unit $699,53 Price Ratio 97 Days To Sell 44 Active Listings at Month End $46,949,78 $69, $3,636,64,77 $76, $4,8,989,67 $634, Victoria Real Estate Board Multiple Listing Service 8

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