Number of Listings Vs Number of Sales Compared in Greater Victoria

 Number of Listings Vs Number of Sales Compared in Greater Victoria

Reviewing the "spread" (or difference) between the Number of Property Listings vs the Number of Property Sales in any one area and for any specific property type over a given period is one of the most important ways to gauge the strength and stability of the Local Greater Victoria  Real Estate Market.

For this article we compared the number of listing for sale and the number of listings sold for the 3 key property types (Single Family homes, Condominiums, 1/2 duplex & town-homes combined) over the past 12 months for the Main districts in the Greater Victoria Area (Victoria, Saanich, Sidney, North Saanich, Central Saanich, Oak Bay, Esquimalt, View Royal, Langford, Colwood, Metchosin, Highlands, Sooke)

We know that even in the hottest market place not every property sells, so we have included a quick indicator what would be considered a Hot, Stable and Slow Market

• In a Hot to Very Hot market we would expect to be selling more than 70% up to 85% of the available properties any thing higher would be considered extreme. 
• Hence in an more healthy and average market we expect that about 50 % to 70 % of the available properties to sell from the inventory
• A below average to slow market would be identified by selling less than 50 % of the available properties for sale.
• Number of Listings sold less than 30% of the available properties for sales would be considered extremely slow.

As you will notice by reviewing the various districts,  there are very significant differences from area to area as to how relatively active to slow some may appear.

It is important to note that some areas may be seeing substantial numbers of new construction (Langford, Sooke, Colwood for example) that may skew the data somewhat even over a one year sample.

We would not suggest to use this information to establish market value and or expected time to sell any one property as any one property never can never be appropriately be represented in large samples like the ones used in the information below.

If you have any questions about the information in this article and or how this information can be used to your full advantage please be sure to contact Peter and Linda Pfann, and it will be our pleasure to answer all your questions.

There are certainly some indicators that can be gleaned from this information, that we will share with you in some of our future articles, but here are some highlights:

• Obviously some Districts are consistently selling higher ratio's of the available inventory, indicating preference by the buyers, which may have a large variety of reasons.
  • Proximity and commuting time and cost to Employment
  • Reputation, Perception and Image
  • Sheer number of New construction
  • Access to Schools, Services and other Amenities
• Some Property Types are doing better overall than others.
• Most importantly, to generalize the market conditions in the Greater Victoria Area would be a mistake, as the differences between Districts and Property types are startling to say the leas
  

Greater Victoria Districts Single Family Home Listings versus Single Family Home Sales Compared

Greater Victoria Districts Condominium Listings versus Condominium Sales Compared

Greater Victoria Districts Town-homes & 1/2 Duplexes Listings versus Town-homes & 1/2 Duplexes Sales Compared