Greater Victoria Real Estate Listing & Sales Market Update, March 11 - 18, 2012

By
Real Estate Sales Representative with eXp Realty, Victoria BC www.pfanntastic.com
https://activerain.com/droplet/xt2

Greater Victoria Real Estate Listing & Sales Market Update,

March 11 - 18, 2012Victoria, Esquimalt, Saanich Real Estate Market Watch

"Sidney BC
Near  Victoria is A Pfanntastic Place to call Home."

Every Week Peter and Linda Pfann take a quick reading of the Greater Victoria Real Estate Market (based on MLS information) for you. Below is our overview of the Victoria Real Estate Market over the past week.

The Vancouver Island BC Communities and Areas included in this Greater Victoria Real Estate Snapshot are:
Victoria, Saanich (East and West), Central Saanich, North Saanich, Sidney, Oak Bay, Esquimalt, View Royal, Highlands, Langford, Colwood, Metchosin, Sooke, Malahat.

If you would like to receive regular updates about real estate activity in your area, or the area you would like to move to, please use our Free Victoria Homes Now Tool that offers you to receive highly personalized and detailed property and statistical information at your fingertips.

Greater Victoria Weekly Real Estate Listings & Sales Market Update March 11 - 18, 2012,
Reported by the Victoria Real Estate Board for the Past Week.
New Listings New Listings 292
Back on the Market Back On Market 11
Added Inventory Added to Inventory (New Listings & Back on the Market) Total for the Week +303
Price Change Price Changed 164

Sale Pending

Sales Pending 133
Sold Listings Sold 91
Cancelled Listings Canceled Listings 41
Expired Listings Expired Listings 53
Reduced Inventory Inventory Removed (Canceled, Expired, Pending & Sold) Total for the Week. -318
Victoria real estate market update Inventory Change for the week

-15

Greater Victoria Real Estate Listing & Sales Market Update, March 11 - 18, 2012.

For this 2nd Week of March, and better than average weather, it would appear that our typical spring rally may have started a little early...with 292 new listings for the week the signs are starting "Pop Up" just like the flowers, and with 224 reported pending or completed sales for the week, we are seeing a nice balance in this weeks Market..

It appears that the general public feels that with the lower prices, low interest rates and good supply, that the time has come to take advantage of some of the Pfanntastic Real Estate Opportunities available in the market place in Greater Victoria.

From our 2 Open Houses this weekend, Attendance at Open Houses remains very good and this further confirms a slowly improving and strengthening of confidence in our marketplace in Greater Victoria, for most areas and property types in and around the lower Vancouver Island region.

We also offer the Greater Victoria area, single family home market place reports for each community in and around Victoria. (you can read these reports here).

In short, dependent what your plans are with your real estate decisions, it is very important to consult with your trusted real estate expert to develop a strategy that will optimize your options and opprtunities. (we would like to apply to become your trusted expert).

The Number of Price Changes for the Week.......164 Price Changes in one week,(read mostly price reductions).

"Deciding on The Right Asking Price" is by far the most important decision YOU as sellers can make to ensure the sale of their property and why properties are Selling" "(or why they are not selling)."

  • It is our experience, that if sellers want to sell their property in this still softer and more fragile market, our best advise to potential home sellers is to trust your agent and the price recommendations they offer you based on their comprehensive market value evaluation.
  • If you need a 2nd opinion, please do not hesitate to contact Peter and Linda Pfann, and it will be our pleasure to complete either a summary evaluation for you (see below) or provide our 60+ page, complete evaluation report which also includes our suggestions for optimizing the marketing results for your property.

Notes on our Weekly Review statistical information:

  • If The Number of Properties Removed from the Market Exceeds the New Inventory for a longer period of time (3-4+ months) the market is active, and prices will level and eventually increase.
  • When The Number of Properties Added to the Inventory Exceeds the Number of Properties Removed from the inventory for a longer period of time (3-4+ months), the market is slowing down and prices will remain level or likely reduce.
  • Monitor our Victoria Real Estate Daily Market Watch over a period of time and you can easily see how the Victoria Real Estate Market is progressing.
  • As always it is nearly impossible to apply the generalities of the entire market place to your particular personal situation, we encourage you to always best to consult with your local real estate specialist (in Greater Victoria that would be Peter and Linda Pfann off course). It would be our pleasure and privilege to review and discuss all your plans, dreams and options, in total confidence and without obligations.

Here is a link to the Victoria Real Estate Board Statistical Reports, and published every month

Greater Victoria Real Estate Listing & Sales Market Update 

March 11 - 18 , 2012

 

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  

peterpfann@gmail.com  www.pfanntastic.com

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

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

 

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Rainmaker
3,860,058
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Hi Peter and Linda,

Sounds like a great summation of your market and what is happening in many areas!!

It appears that the general public feels that with the lower prices, low interest rates and good supply, that the time has come to take advantage of some of the Pfanntastic Real Estate Opportunities available in the market place in Greater Victoria.

Mar 19, 2012 07:34 AM #1
Ambassador
559,584
Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986.
eXp Realty, Victoria BC www.pfanntastic.com - Victoria, BC
Talk To or Text Peter 250-213-9490

Hi Dorie,

Thank you for your feedback, and I am sure that many markets are still find it hard to figure out which direction (if any) they are moving.

Mar 19, 2012 08:08 AM #2
Rainmaker
518,406
AJ Heidmann ~ CRS
McEnearney Associates, Inc. - Alexandria, VA
YOUR Alexandria & Arlington, VA Real Estate Expert

Peter & Linda - The market there seems very balanced, with buyers & sellers coming to agreement 224 times.. and just 292 new listings going into the Spring market.  Best of luck to you!

Mar 19, 2012 11:01 AM #3
Rainmaker
1,267,675
Al & Peggy Cunningham, Brokers
RE/MAX West Realty Inc., Brokerage - Brampton, ON
Our Family Wants To Help Your Family!

What a Pfanntastic market report Peter and Linda. You covered just about everything a buyer or seller in your area would need to know.  

Mar 19, 2012 11:29 AM #4
Ambassador
559,584
Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986.
eXp Realty, Victoria BC www.pfanntastic.com - Victoria, BC
Talk To or Text Peter 250-213-9490

HI AJ,

Thanks for the feedback, and yes we are getting more and more balance, although we still have a bit more inventory than what we would like to see

The Al and Peggy,

Thanks for the kind words, and we hope our local and not so local readers enjoy our Victoria Real Estate Market Updates.

 

Mar 19, 2012 12:18 PM #5
Rainmaker
733,028
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Open house is always a good indication of the market improvement and sales activities.

Mar 19, 2012 01:29 PM #6
Ambassador
559,584
Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986.
eXp Realty, Victoria BC www.pfanntastic.com - Victoria, BC
Talk To or Text Peter 250-213-9490

Hi Eileen,

so very true, and attendance is strong at this time.

Mar 19, 2012 01:47 PM #7
Rainmaker
484,178
Cindy Westfall
Premiere Property Group,LLC Portland Metro & Suburbs Oregon - Tualatin, OR
ABR,GRI Your Tualatin & Portland Metro Real Estate

Hi Peter and Linda, As always, your reports are always very thourough and easy to follow and a pfanntastic value to those looking to buy and sell in these neighborhoods. It looks like the spring market has started to kick off!

Mar 19, 2012 01:49 PM #8
Rainmaker
844,299
Barbara Altieri
Kinard Realty Group - RealtyQuest Team, Fairfield and New Haven County CT Real Estate - Shelton, CT
REALTOR-Fairfield County CT Homes/Condos For Sale

Peter & Linda -- I like your comment: Signs are popping up like flowers!  It appears your spring market is getting off to a good start!  Your market reports are SUCH an excellent resource for sellers and buyers.

Mar 23, 2012 11:28 AM #9
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