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Victoria BC Real Estate Sales for July-Listing Inventory Up and Prices Remain Stable

By Fred Carver Real Estate Consulant

Industry Observer with Retired BC Realtor

August 03, 2008 06:45 PM

Throughout Greater Victoria BC July Real Estate Sales Slowed a lttile, normal for the Summer months, However Home Sale Prices continue to Remain Stable.

In July 2008 Victoria Single Family home sales Slowed and home prices remained stable with Saanich East the leader of the pack with 73 single family homes sales with an average selling price during the month of July of $595,868,
Oak Bay saw 16 home sales with an average selling price of $926,025
Victoria saw 43 home sales with an average selling price of $582,566
Victoria West saw 2 home sales with an average selling price of $529,500
Saanich West saw 34 home sales with the average selling price of $517,319
Esquimalt saw 16 home sales with the average selling price of $432,456
Central Saanich saw 19 home sales with the average selling price of $659,000
North Saanich saw 12 home sales with the average selling price of $712,125
Sidney saw 9 home sales with the average selling price of $509,742
Colwood saw 26 home sales with the average selling price of $525,744
Langford saw 38 home sales with the average selling price of $456,639
Highlands saw 3 home sales with the average selling price of $ 553,667
Waterfront Home Sales throughout Greater Victoria totaled 10 home sales with the average selling price of $1,016,350
Total Sales through Greater Victoria for July were at 335 Single family homes Sold with the area total average selling price of $578,117, the medium is at $529,900, single family home Sale Prices have remained stable throught the region this Summer. Representing almost 50% of the July Listings Sold in July.

There were 166 Condominium's Sold in July throughout Victoria with an average selling price of $302,635

There were 52 Townhouses Sold in July throughout Victoria with an average selling price of $454,918

Source: VREB
Note: Victoria Real Estate Inventory has increased to 1998 levels of 4500 properties(all types) listed on MLS for sale during July, yet sales have remained strong during the slower time of the Year.

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Katerina Gasset

The Gasset Group & Get It Done For Me Virtual Services - Provo, UT

Amplify Your Real Estate & Life Dreams!

Fred- Looks like you enjoy the clipart! :) Nice market report with some great stats for your sellers to get really study and price their homes correctly.

Aug 03, 2008 06:49 PM

Fred Carver Real Estate Consulant

Retired BC Realtor - Victoria, BC

Accredited Real Estate Consultant

Hi Katerina....the home sales are happening for the properly priced homes. Sound Familiar?

Thanks for sharing your clip art source.

Have a Great Week!

Aug 03, 2008 06:54 PM

Bill Gassett

RE/MAX Executive Realty - Hopkinton, MA

Metrowest Massachusetts Real Estate

Fred excellent Real Estate market report covering Victoria BC. It is easy to see why you are the go to Realtor.

Aug 04, 2008 12:46 AM

Denise Shockey

RE/MAX Aerospace Realty - Cocoa Beach, FL

Cocoa Beach, Brevard County Florida Real Estate

Hi Fred, great report, love the clip art! Sounds like you are on top of things as usual. Take care.

Aug 04, 2008 02:40 AM

Hi Bill...it's a holiday weekend Bill, and i got the jump on my posting on the state of our local market in Victoria. Bottom line we're in for a soft landing, the higher end home sales have slowed, the lower price homes are moving quickly, pricing of course is everything.

Have a Great day, thanks for visiting!

Aug 04, 2008 03:59 AM

Hi Denise....Clip art and photos make a post more interesting to read. Our real Estate market prices are hold overall, with the higher end home price down a little, certainly the lower end is very strong, I sold three homes last month in less than a week, one while i was away in Seattle.

Cheers, have a great day! I'm off to see Colin James and Burton Cummings(The Guess Who) later to day, as part of the Party Here celebrating BC's 150th Birthday.

Thanks foer visiting come again!

Aug 04, 2008 04:10 AM

John Slocum

Premiere Property Group, LLC - Vancouver Washington - Vancouver, WA

Broker, SFR - Vancouver WA Real Estate

Hello Fred, Nice presentation of your current market conditions. What you've said above is true for our market down here...homes that are selling are being priced correctly.

Aug 05, 2008 02:43 AM

Hi Kathryn and John...Yes, funny how good pricing is universal in real estate, it certainly works here if you list a home at the market price, even with a large inventory I'll see an offer in the first week.

Cheers, thanks for visiting, come again!

Aug 06, 2008 05:02 PM

Victoria BC Real Estate Sales for July-Listing Inventory Up and Prices Remain Stable

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