Victoria Real Estate Board

September 3, 2013

VICTORIA BC - Summer-time real estate sales numbers were the best they've been in Greater Victoria in five years. There was a total of 1,787 sales in June, July and August.

On a monthly scale, total real estate sales in Greater Victoria were up 16.8 per cent in August 2013 over August 2012, the Victoria Real Estate Board reports. A total of 540 properties sold in August, finishing off a strong summer market.

"I'm very pleased with the August results. MLS® sales are strong and, with 4,593 active listings in all categories at month end, we remain on the cusp of a balanced market," says Shelley Mann, President of the Victoria Real Estate Board.

The BC Real Estate Association defines a balanced market as when the ratio of sales to active listings is between 15 and 20 per cent. At month end, Victoria's ratio for residential properties was 14 per cent.

There were 308 single family homes sold in August, an increase of 28.3 per cent over August 2012, while the median price of $529,950 is up less than one per cent year over year from $526,250. There were 125 condominium sales with a median price of $287,000 and 70 townhomes sold at a median price of $415,000.

"Overall, pricing remains flat and our provincial economist predicts the trend will continue for another year. That said, the year-over-year median price of condos is up 9.2 per cent and the median of townhomes is up 12.5 percent," Mann says. "This will vary between neighbourhoods, which is why I always recommend that consumers consult a REALTOR® for local pricing.

"With interest rates starting to increase, many buyers are locking into preapproved mortgages. These consumers should be purchasing in the next three to four months, so I believe the market will remain steady," Mann says.

Total Waterfront Single Family Dwellings sold: 20, up 7 over August 2012
Total Non-waterfront Single Family Dwellings sold: 288, up 61 over August 2012
Single Family Dwellings sold over $1 million: 17 (2 over $2 million)

Victoria Real Estate Board

VICTORIA BC - Total real estate sales in Greater Victoria were up 11.5% in July 2013 over July 2012, the Victoria Real Estate Board reports.

"Sales numbers are slightly lower than in June, but that’s part of our normal summer market cycle. When seasonally adjusted, our market activity remains strong for this time of year," says Shelley Mann, Board President.

"Despite the brisk activity, we continue to see housing prices remain flat," Mann says. "With fewer properties listed at the end of July, we are still narrowly into a balanced market."

With 583 sales in July and 4,772 active listings on the MLS® System at month end, the sales-to-active-listings ratio is 15%. Generally, analysts define a balanced market as when the ratio is between 15 and 20%.

There were 345 single family homes sold in July, an increase of 17.7% over July 2012, while the median price of $521,000 is down 1.7% year over year from $530,000. There were 127 condominium sales with a median price of $265,000 and 70 townhomes sold at a median price of $360,750.

"We are also seeing multiple offers on some properties," Mann says, "although these offers are not always over the asking price, illustrating the importance of consulting a REALTOR® to gain individual neighbourhood insight."

Total Waterfront Single Family Dwellings sold: 18, up four over July 2012
Total Non-waterfront Single Family Dwellings sold: 327, up 48 over July 2012
Single Family Dwellings sold over $1 million: 19 (2 over $2 million)

8-3951 Bethel Place, Saanich West

Unique Character Farmhouse 3 Bed, 2 Bath - $399,000

http://rosiesays.ca/mylistings.html/details-32638759

#205-1571 Mortimer Street, Saanich East

2 Bed, 1 Bath suite close to UVIC - $199,900

http://rosiesays.ca/mylistings.html/details-30355354

Come and be charmed by this updated ‘farmhouse’. Tucked away & very private, yet close to the city! You get the best of both worlds as this single family dwelling is actually part of well-run strata. The roof, foundation, exterior and grounds surrounding the home are all maintained by the Strata! Features: a large wrap-round private deck in excellent condition to enjoy while a gardener takes care of your yard; new professional paint in and soon out; hardwood flooring in spacious living & dining rooms; French doors; new carpeting on upper & lower levels; lots of light from many updated windows; Bay window overlooks large garden; bright breakfast nook as part of spacious kitchen, quiet master w/ coved ceilings; family room and 3rd bedroom on lower floor w/ pot-lights; workshop/storage room; garden shed & private garden. A perfect & affordable family home guaranteed to delight & beckon!

http://rosiesays.ca/mylistings.html/details-32638759

This bright & spacious 2 bdr. corner suite looks south to Mt. Tolmie. On a quiet street just a short walk to a full range of shopping, eateries, transit, & amenities. Suite features gorgeous laminate flooring, updated kitchen & bath, new berber carpet in bedrooms, huge living room, many ample closets, pantry/utility room, bright dining area with east window, long south-side balcony. & extra storage room in building. Building features inc. pool, hot tub, sauna, workshop, rec. room & parking. Friendly & well-managed strata. Come and check it out!

http://rosiesays.ca/mylistings.html/details-32571149 

Victoria Real Estate Board

July 2, 2013

VICTORIA BC - For the third consecutive month, the Victoria Real Estate Board reports sales through the MLS® System remained strong with 65% more activity in the current quarter than in the first quarter of 2013.

"With 664 sales this month, and 1,938 sales this quarter, the market is definitely rebounding," says President Shelley Mann. "We are now headed into the quieter summer months, so I'm interested to see where this leads."

There were 382 single family homes sold in June at a median price of $525,250, up 1% over June 2012 at $520,000. Condominium sales were 164 at a median price of $265,000 and 79 townhomes sold at a median price of $365,000. There were 4,833 active listings on the MLS® System at the end of June, bringing the active-listings-to-sales ratio to 17%, well within the balanced market range.

"While sales are up, prices remain flat," Mann says. "It is more important than ever to focus on the median prices. With six family home sales between $2 million and $7 million in June, the average price was pulled higher. The median price - the middle price - remained stable."

Mann also advises buyers to consider long-term mortgages as she is hearing that long-term rates are starting to increase and lenders are providing fewer discounts on posted interest rates.

Total Waterfront Single Family Dwellings sold: 18, up two over June 2012
Total Non-waterfront Single Family Dwellings sold: 364, up 10 over June 2012
Single Family Dwellings sold over $1 million: 27 (6 over $2 million)

June 23, 2013
Thought you might like to hear about the Royal LePage 100th Birthday Celebration that 
took place Saturday 22nd June.....what a fun afternoon we had!  So much time and prep went into this event by our hard working team and it was a huge
success...... 

Aside from the kids enjoying the bouncy castle, partaking in sack races and Jello eating
contests to name but a few, the adults had a wonderful time too.  My Assistant Charlotte
entered the adults sack race and true to my word, I took part in the Tug of War - and 
guess what? - my team won! - check out the picture with our trophy......

Royal LePage sponsored the local 4H Club to provide the hotdog BBQ with all the fixings
and beverages. They did a great job and the food was yummy!

2616 Pinnacle Way, Mill Hill, Langford

3 Bed/ 3 Bath Family Home - quiet cul-de-sac location - $399,000

http://rosiesays.ca/mylistings.html/details-32086144

Royal LePage is turning 100 and we want you to help us celebrate...it would be great if you could join us!

"Royal LePage CCR" is made up of 4 offices and at this event we are having an office challenge at 4:00pm – a tug of war and I, Rosie the Realtor, will be participating in the tug of war.  There will also be a blow up castle and a piñata.

It's going to be fun - hope to see you there!

Potato Sac Race

Water Balloon Toss

Tug-o-War

Jello Eating Contest

And Much More!.........