Second Quarter Of 2012 Greater Victoria Real Estate Market
Continues Slow Growth
It’s been a typical spring market in Greater Victoria real estate with good volume but average prices lower than a year ago.
Last month 370 single family homes sold throughout the Victoria Real Estate Board’s region, whereas 348 sold in June 2011. The average price for single family homes sold in Greater Victoria last month was $580,557, a decrease from June 2011’s average of $618,429.
Total MLS® sales for June 2012 was 637, with 602 of those residential, compared to 618 and 596 respectively for the same period in 2011, and 659 and 636 last month. There are 5,189 active listings.
"For our market, an average month is 500 sales," says Carol Crabb, President of the Victoria Real Estate Board. "Volume during the last three months has been well ahead of that number."
Residential sales increased in the Second Quarter of 2012 over the same period in 2011. House sales in Greater Victoria totalled 993 over 924 for Q2 in 2011; 496 condos over 453 in 2011; 189 townhouses over 174; and 44 manufactured homes over 37.
Crabb notes, "For the quarter, average price are lower than last year: $608,072 versus the second quarter of 2011 at $624,773.
Total waterfront Single Family Dwellings sold: 16, down 8 sales over June 2011
Total non-waterfront Single Family Dwellings sold: 354, up 30 sales over June 2011
Single Family Dwellings sold over $1 million: 21 (3 over $2 million)
