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Victoria BC Real Estate September Sales with Fall in the Air

By Fred Carver Real Estate Consulant

Industry Observer with Retired BC Realtor

October 03, 2008 05:28 PM

Victoria BC Real Estate Fall is in the Air...October 2008

What Happened to September...Wow it Went Fast This Year.
A total of 339 homes and other properties sold in September through the Victoria Real Estate Board’s Multiple Listing
Service® (MLS®) compared to the 517 sales in August.

In September 2008 Victoria Single Family Home Sales

Lets look at the Real Estate Market in Each District of Victoria

Oak Bay saw 17 home sales with an average selling price of $897,317
Current Active Listings of Single Family Homes 92

Victoria saw 25 home sales with an average selling price of $544,328
Current Active Listings of Single Family Homes 152

Saanich West saw 20 home sales with the average selling price of $471,265
Current Active Listings of Single Family Homes 130

Esquimalt saw 3 home sales with the average selling price of $473,666
Current Active Listings of Single Family Homes 28

Saanich East saw 39 home sales with the average selling price of $669,740
Current active Listings of Single Family Homes 285

Central Saanich saw 5 home sales with the average selling price of $712,380
Current Active Listings of Single Family Homes 98

North Saanich saw 3 home sales with the average selling price of $594,166
Current Active Listings of Single Family Homes 124

Sidney saw 9 home sales with the average selling price of $448,888
Current Active Listings of Single Family Homes 66

Colwood saw 9 home sales with the average selling price of $451,722
Current Active Listings of Single Family Homes 92

Langford saw 29 home sales with the average selling price of $476,134
Current Active Listings of Single Family Homes 201

Highlands saw 0 home sales
Current Active Listings of Single Family Homes 16

Sooke saw 16 home sales with a selling average price of $445,037
Current Active Listings of Single Family Homes 194

Waterfront(all districts) Home Sales throughout Greater Victoria totaled 5 home sales with the average selling price of $ 900,500
Current Active Listing of Single Family Lake and Ocean Waterfront Homes 166

- - Greater Victoria Single family home Sales for September showed an average selling price of $577,573, the medium selling price was at $520,000, The Median selling price is up from September 2007 with a median then of $473,000.
  - See July Market update
  - See August Market update

There were 71 Condominium's Sold in September throughout Victoria with an average selling price of $369,515

There were 36 Townhouses Sold in September throughout Victoria with an average selling price of $406,959

Stats Source: VREB

Comments(12)

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Bill Gassett

RE/MAX Executive Realty - Hopkinton, MA

Metrowest Massachusetts Real Estate

Fred I love your market reports because you not only post some useful data but also add a nice touch with your graphics!

Oct 03, 2008 11:50 PM

Fred Carver Real Estate Consulant

Retired BC Realtor - Victoria, BC

Accredited Real Estate Consultant

Hi Bill...Thanks for your support, I believe Victoria home Buyers and Sellers want to see what is happening in their area, not just the stats on the whole market area. As you can see each area is different.

Cheers, thanks for visiting.

Oct 04, 2008 03:27 AM

Larry Estabrooks

Independent Real Estate Agent - Moncton, NB

100% representation means NEVER DUAL AGENCY !

Fred, you are correct. The stats for specific areas and types of dwellings are much more interesting than the whole residential market stats.

Oct 04, 2008 08:28 AM

Laura Cerrano

Feng Shui Manhattan Long Island - Locust Valley, NY

Certified Feng Shui Expert, Speaker & Researcher

Fred, Sounds like your lovely area is doing very well....I'm very glad to hear it! Greater Victoria always looks so beautiful!

Oct 04, 2008 08:58 AM

Hi Laryy...we've got some dooms dayers here that twist our press releases, so I write the story with the Reader interest, by breaking down the different area for the Buyers and Sellers in Greater Victoria.

Cheers, thanks for visiting!

Oct 04, 2008 03:12 PM

Hi Carole...Great to hear from you, I wish you could come here some day, I know you would fall in love with Victoria. Compared to else where we're seeing a soft landing.

Cheers, thanks for visiting Carole!

Oct 04, 2008 03:14 PM

Jean Groesbeck

Compass - Anacortes, WA

Broker, CRS, e-PRO, ABR, ASP, CNE, IMS

How does this compare with last year? I hear things are slowing down up there!

Oct 07, 2008 02:56 AM

Hi Jean...Victoria is doing fine, prices are down around 10% over all, median from last year is almost the same. Victoria has the lowest unemployment in the country and the lowest vacancy rate(less than 1%) plus positive migration, the baby boomers and retirees are moving here..

Oct 07, 2008 03:37 AM

Jamie Dumaine-Russell

RE/MAX Alliance - Branford, CT

Hi Fred - Love the "pizzazz" to this market report for Victoria BC Real Estate Sales not to mention a pretty robust average selling price in your area.

Oct 08, 2008 12:54 PM

Hi Donna...it makes it more interesting to add Graphics, rather all text especially for market reports, and colour helps too.

Victoria is seeing what I call a soft landing no bubble burst here, correct pricing is important.

Oct 08, 2008 01:06 PM

Pat Williams

Century 21 Today / CyberCletch LLC Virtual Assistance - Commerce Township, MI

CyberCletch LLC Marketing Management

Hi Fred!

Thanks for sharing this link on Twitter and giving me the chance to see your report. As you know I have family in Victoria and I was there and in several houses in the areas you report on last summer. All I can say is wow! Our house in MI which is on water (much smaller body!) is 3000 sq ft with another 1500 in the walk out basement (12 ' basement ceilings). We bought it for 418k 3 years ago and its probably worth about 360k now. It just floors me the difference in values across both countries. Very interesting indeed!

Oct 11, 2008 04:26 AM

Hi Pat...nice response, great to here you were here, next time lets meet and have a coffee and share so stories.

Well Victoria is on an island and there is no more land which keeps putting our Real Estate up especially over the Long Term. Sure we have our Ups and Downs, when I first started back in 71...that's 1971. New homes Sold for $18,000, existing homes were $8,000 to $14,000. It really land value that moves up.

Cheers, see you on Twitter, thanks for visiting!

Oct 11, 2008 04:39 AM

Victoria BC Real Estate September Sales with Fall in the Air

Comments(12)

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