Victoria Real Estate update, 08-07-2012 reported by VREB

Greater Victoria Real Estate Daily Update in the past 24 Hrs. as at 08-07-2012 as reported by VREB (Victoria Real Estate Board).

Market Snapshots in Greater Victoria Real Estate are often a very limited picture in time. Typically we see more sales and expired listings reported in the towards middle and the end of each month. We also notice more new listings just before and after the weekends, as well as price changes are often reported just before the weekend open houses. So why are we sharing these market snapshots for the Greater Victoria real estate?

• Many people still think that all listings sell
• Many Sellers wonder how long it will take to sell and or move
• Many Buyers wonder what is selling and how active the market really is.

The Communities covered in our daily snapshot of the Greater Victoria Real Estate Market are;

• Victoria
• Saanich
• Esquimalt
• Oak Bay
• View Royal
• Saanich Peninsula Communities (Sidney, Central and North Saanich)
• Westshore Communities (Highlands, Langford, Colwood, Metchosin, Sooke)
• Malahat and other up Island communities.

	Activity	Number
	New Listings	17
	Back On The Market	0
	Expired Listing	2
	Cancelled Listings	0
	Listing Price Change	10
	Pending Sale	2
	Sold	2

Our Greater Victoria Real Estate Daily Snapshot offers a quick glance in the local real estate market, however we caution readers that daily updates should not be interpreted as accurate representation of the current Greater Victoria Real Estate Market conditions. Greater Victoria Month To Date Real Estate Market Statistics This Table shows the Month to Date Real Estate Stats and are updated weekly (Monday’s) Including an estimate of the number of months of inventory if no new listings were added. in Greater Victoria, absorption rates of less than 4 months of inventory is considered a Sellers Market, 4 – 7 months of inventory s considered a Balanced Market 7+ Months of Inventory is Considered a Buyers Market

As At August 07, 2012	Month To Date August 2012	All Of August 2011
New Unconditional Sales	75	542
New Listings	207	1200
Active Listings	4836	4944
Months of Inventory		9.13

Considering Your Victoria Real Estate Options?

• What is My Home Worth, and How Long would it Take to Sell?
• Why Pay more for Pfanntastic Victoria Real Estate Results?
• How To Receive CA$H-BACK On Your Home Purchase.