As sales in Victoria softened in April but prices remained steady, townhouses and condos showed an increase.
The Victoria Real Estate Board President commented that the steady prices reflect ongoing stability in the market. Tighter credit conditions and an anticipated higher mortgage rate have had a subtle effect on the market, with prices expected to remain flat and stable, at least for the time being.
The average price for a single family home in April was $615,533, with the median price at $556,000. The number of sales over $1 million was 18.
The average price for condos was $353,858 with the median price being $301,000. The average for townhouses rose to $480,621 with the median also rising to $460,000.