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Sooke Real Estate Market Update for February 2015

Gorgeous February Weather in Sooke

Gorgeous February Weather in Sooke

Well – it’s been a while. Between being a busy dad, REALTOR®, 2014 president of the Victoria Real Estate Board, and a few other things, I certainly have neglected this blog. I’d like to start posting regularly again, even if it’s short bits and pieces. Let’s take a quick look at how the market has been performing in the last year or two. 

Sales Volume

2014 was a good year overall for total sales volume in the entire Greater Victoria region. We saw fewer listings and more sales, resulting in a modest increase in the Housing Price Index (HPI) over 2013. In Sooke specifically, however, the results were mixed. We saw roughly the same number of single family dwelling listings in 2014 as 2013 (523 compared to 517, respectively), but did see sales increase about 12% from 207 units to 232. Prices, however, were largely flat, showing a slight decrease in the benchmark HPI price from $345,900 in December 2013 to $340,700 in December 2014.

2015 seems to be off to a decent start, with January showing only 48 listings compared to 54 and 75 in 2014 and 2013, respectively. Sales clocked in at 16 units compared to only 6 last year and 12 in 2013.

Anecdotally, I hear that Victoria properties are selling quickly. Sooke always takes a little longer to catch up to activity in Victoria, but I am confident that 2015 will be a good year for Sooke real estate. Realistic pricing and good presentation of the property continue to be the keys to success.

How does this affect your property? For a consultation about selling your home, including a detailed market evaluation, preparation tips, and a marketing plan, give me a call or shoot me a text at 250-885-0512, email or if you prefer, fill in my contact form.

Watch for more coming up on What The Sooke!? and be sure to Like the Facebook page too.