April 1, 2012
In March sales of single family homes rose 17%, while the six-month average price is up 1% to $599,551.
An astonishing $640,553 was the average price of a Greater Victoria single family home in March 2012, i.e. up from $579,985, but is affected by the sale of two homes over $4 million. However, in comparison to March 2011, sales in this category are down 7%.
Condos and townhomes sales are flat, compared to February 2012.
"With softer prices, buyers have been looking at houses," says Carol Crabb, President of the Victoria Real Estate Board. "That is now being reflected by the six-month average price increase. We predicted a flat market in January, and so far that is what we are experiencing."
With a total of 4,274 active listings, properties on the market have edged up from last month (3,977 active listings at February 29, 2011). Increased supply levels reflect typical spring activity as seen year over year.
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