Saanich West BC Condominium Market Update September 2010

Real Estate Sales Representative with eXp Realty, Victoria BC
Saanich West  BC  Condominium Market Update September  2010


About Saanich West (Victoria, BC)

Located just Minutes to Victoria, Saanich West is a Community of established neighborhoods, serviced by a variety of parks, shopping areas, walking and biking trails, recreational facilities and great schools. You can find a great diversity of smaller and larger Single Family Homes, Town-homes and Condominiums from tucked away to waterfront estates. Some of the new and exciting service developments include Uptown Centre, a new library, many park upgrades and an extensive network of trails and bike lanes.

The overall softening in the Victoria Real Estate Market in General continues with continued low number of sales. The  Saanich West Condominium Real Estate Market is no different. This market adjustment is very moderate and is offering buyers great opportunities and selection of all home types at reasonable prices. 

The Stats below, will offer you many different ways to review and analyze the current market conditions and activity in the area, also interesting to note is to compare this year with last years, activity, prices and other stats. We hope you enjoy this review of the  Saanich West Market for this month. 

A few observations from the Saanich West Condominium Sales information provided for the past month;

  • Although the number of sales is still lower than a year ago, the gap is not as large as it has been.
  • After a few months where average monthly sales prices where below those of the same months in 2009,  September 2010 did see sales price averages above sales prices of 2009. 
  • 6 month Average Sales Prices between 2009 and 2010 are almost at the same levels. (2009 $ 271,000 vs. 2010 $ 275,000).
  • There are currently 34 Condominium Listings available for sale in Saanich West and with the reported 8 sales in the past month at current inventory and sales inventory, there is slightly over 4 months of inventory. As such  the Saanich West Condominium Market appears to be recovering to now a balanced market place. If the current absorption levels are sustained for the next 3 months we can speak of a trend towards sustained recovery.
  • If you hope to buy a Condominium at the lowest price in Saanich West (and possibly for other core areas in Greater Victoria), this is possibly a great time to seriously explore your options. 
  • It appears that we are nearing the possible recovery of the Saanich West Condominium market.

Foot notes,

  • All the statistical information in this review is from the VREB MLS statistical information and does not include information from private sales and or builder / developers.
  • With limited number of sales, sales Price Averages and Median Sales Prices commonly cause substantial changes from month to month, and as such should not be used as a reliable indicator of market trends.
  • It is impossible to predict or anticipate the exact moment prices are at its lowest,  the best way possible is by reviewing  the number of sales, the number of sales and overall absorption of any property type at current price levels...
  • Once the sales volume maintains the currently available inventory at  4-7 month levels for 3 months we have likely entered a balanced market  period.
  • The information provided is believed to be accurate and complete from the sources stated, however this information should not be used strictly in order to establish the market value of your property and or to make decisions about your personal real estate plans. 
  • We would encourage you to contact Peter and Linda Pfann at your convenience so that we can assist you with developing the best real estate strategy and plans for you to ensure that you and your family will achieve your desired real estate results.

 Real Estate Activity for Condominiums  in Saanich West for September  2010.

Saanich West Condo Listings September 2010

Saanich West Condominium Active Listings Statistics For September  2010.

See clarification for abbreviations at the bottom of this post.


  Saanich West Condominium Sales Activity Statistics during September 2010 and Market Comparison 2009 Vs 2010


Saanich West Condominium Sales September 2010

Clarification for Rows; 
Min - Minimum, Not necessarily from the same listing 
Max - Maximum, Not necessarily from the same listing  
Avg - Average of each Column 
Sum - Total of each Column 
Clarification of Columns; 
Price List -  The Current list price of the properties included 
Price Sold - The Sale Price of the properties included (when sold) 
Price Original - Original List Price of the properties included 
Assessed Value - BCA Assessed Value for Property Tax Purposes 
DoM - Days On Market 
S/L - Sales to list price ratio (sold price divided by list price) 
L/A - list price to Assessed value ratio (list price divided by Assessed Value) 
O/FinSF - Original Price to Finished Square Feet Ratio 
L/FinSF - List Price to Finished Square Feet Ratio 
S/FinSF - Sale Price to Finished Square Feet Ratio 
A/FinSF - Assessed Value to Finished Square Feet Ratio 

Posted by




Peter Pfann,

CPCA, ABR, SRES, E-Pro, IMSD, Master ASA, C-CREC, Associate Broker.

Text or Talk To Peter @: (1) 250 - 213 - 9490

Pfanntastic Properties in Victoria, BC, Canada, @ Fair  Realty Since 1986.

Regional office: 1540 Fort St Victoria, BC V8S 5J2



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