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Mixed Results In May for Sooke Real Estate – Statistics for May, 2012

I listed a beautiful condo at Mariner's Village in May

May 2012 had mixed results for real estate sales in the Sooke area. While it was quite a bit busier than April, we are still a little behind in terms of sales volume compared to last year. I definitely noticed buyer activity picking up, with plenty of showings, but they did seem to trail off toward the end of the month.

Properties between $300,000 and $500,000 continue to be the busiest market segment in the single family dwelling (SFD) category, but there are quite a few sales over $500,000. Here’s how the numbers broke down :

May 2011:

  • New listings, all property types: 95 (56 single family dwellings)
  • Sales, single family dwellings (SFD): 24
  • Sales, all property types: 33
  • Lowest price: a manufactured home at $12,000 (lowest-price SFD was $280,000)
  • Highest price: $800,000
  • Average price, SFD: $394,668
  • Median price, SFD: $368,500
  • Active listings, all property types: 450
  • Sale price breakdown (SFD): $100K – $200K: 1 | $200K-$300K: 1 | $300K-$400K: 13 | $400K-$500K: 7 | $500K-$600K: 1 | $800K+: 1
  • Average Time To Sell: 73 days (77 for SFD)
May 2012:
  • New listings, all property types: 89 (66 SFD)
  • Sales, SFD: 22
  • Sales, all property types: 29
  • Lowest price: a manufactured home at $100,000 (lowest-price SFD was $200,000)
  • Highest price: a huge acreage on Helgesen for $1.85 million*
  • Average price, SFD: $500,905
  • Median price, SFD: $427,000
  • Active listings, all property types: 436
  • Sale price breakdown (SFD): $200K-$300K: 2 | $300K-$400K: 7 | $400K-$500K: 6 | $500K-600K: 4 | $600K  – $700k: 1 | $700K-$800K: 1 | $1M+: 1
  • Average time to sell: 93 days (67 for SFD)

Obviously, the average prices is skewed upward by the higher-priced sales, especially the $1.8M sale on Helgesen. I should note that I’m unsure as to what the story with that property is, as it has since been re-listed for $1.99M. Market activity so far this month has been sluggish. Perhaps when the weather improves a bit, the buyers will come out of the woodwork.

If you have any questions about how these statistics were calculated, what they mean, or would like to know what your property is worth in today’s market, just give me a call at 250-885-0512 or send me an email