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Posts tagged ‘April’

Sooke Real Estate Statistics – April 2013

The master bedroom of 2407 Poplar - Click to learn more.

The master bedroom of 2407 Poplar – Click to learn more.

April 2013 was my busiest month in quite some time. There were lots of showings, I had buyers coming in from out of town, and I managed to put deals together on two of my listings. Hopefully this is a sign that our sluggish market is picking up. Overall in the greater Victoria region, sales were up 5% over last year’s April sales – the first year-over-year monthly increase this year and the best April since 2010. Let’s dive into the Sooke numbers, shall we? Read more

Sooke Real Estate Statistics – April 2012

Spring has sprung - what about the real estate market in Sooke?

April just flew by, and here we are in the second week of May already and I’m just getting to the stats from last month. It’s pretty slow out there, and if you’re looking to buy, there are definitely deals to be had. If you go by the average and median prices, it would appear that prices are fairly stable, but there has definitely been an increase in sales of cheaper properties.  Read more

Victoria BC Real Estate Buyers Profile – April 2010

Modern homes in Victoria, BC. Photo: pnwra on Flickr

It’s once again time to look at our “on the street” snapshot of Victoria-are real estate buyer activity. April’s data from our Member Market Survey has just been released by the Victoria Real Estate Board. Each month, agents who’ve completed a transaction while acting for a buyer are polled on various questions about their buyers. The goal is to get a snapshot of the situation on the street directly from agents who are actively involved serving their clients.

Highlights from this month’s data:

  • The trend of decreasing number of first-time buyers continued, with  19.23% identified as such
  • Nearly one-third of buyers were moving from one property to a similar one. Perhaps this correlates with the lower number of first-time buyers in recent months; after they sell their smaller homes to first-timers, this set of buyers is now shopping for their ‘move-up’ house.
  • This month, single females bought fewer houses than single males.
  • As usual, the fast majority of buyers (67%) moved within the greater Victoria area. The next largest group came from within Canada, but outside B.C.
  • The Western Communities were more popular with buyers than the Saanich Peninsula.

As our inventory of properties on the market increases, there continues to be more choice in the market for buyers. Not surprisingly, most agents were reporting fewer instances of multiple offers (54 vs 12 reporting more multiple offers).

Check out the full details of this month’s survey here.

Tim Ayres – Sooke Real Estate Professional

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Victoria BC MLS® Real Estate Statistics – April 2008

Greetings, search engine visitors! For April Statistics, released today, June 2, 2008, click here!

As choices increase and buyers decrease, pressure is on to price it right!

There is still fuel in the fire of the Victoria and Sooke real estate market, but decidedly less from a year ago. The April statistics were released today, and despite an all-time record high average price for single-family detached houses of $630,295 (caused by a relatively high number of sales of $1M+ homes), the trend is to increased inventory and fewer buyers.

There were 17 per cent more properties available for sale last month compared to the same month a year ago, and 768 sales, compared to 898. Sales were up from March, which had 707 sales.

There is still robust market action on moderately priced and lower priced properties, and the key is good marketing and good pricing. Still, sellers can expect to have to wait longer than in recent years in most cases as buyers consider the increased inventory. Make sure your photographs look good! Below is the statistics release from the Victoria Real Estate Board and their graphs.

Real Estate Sales Moderate – Prices Remain Stable

May 1, 2008Sales of homes and other properties in the Victoria area moderated in April with a total of 768 sales through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), up from 707 sales in March but down from the 898 sales in the same month a year ago. Overall prices remain steady but 28 sales of over $1 million, including two sales in Oak Bay of over $2 million, pushed the average price of single family homes to a new record high.

Victoria Real Estate Board President, Tony Joe, notes that the number of properties available for sale continues to increase. “In April, there were 3,859 properties available for sale – a 17 per cent increase over the 3,305 properties on the market in April of 2007. This increase in inventory coupled with a moderation in the number of sales offers further indication of a more balanced market that offers stability for both buyers and sellers.”

Joe added that despite the record high average price for single family homes, overall prices remained steady last month. “The relatively large number of high-priced sales had a substantial impact on the average price of single family homes in Greater Victoria, pushing this figure to a new record high of $630,295 but it is important to note that the median or mid-range price was substantially lower at $558,000.” Joe noted that nearly 28% of single family homes last month sold for under $475,000.

The average price of all condominiums sold in April was $325,975; the average for the last six months was $328,915. The median was again lower at $294,900. The average price of all townhomes sold last month was $420,658; the six month average was $440,364. The median price was $407,450.

MLS® sales last month included 395 single family homes, 235 condominiums, 80 townhomes and 20 manufactured homes.

Summary Report and Graphs

Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs

Courtesy Victoria Real Estate Board

Tim Ayres

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Bank Of Canada Expected To Cut Interest Rates


Don’t forget, the Bankof Canada meets tomorrow, April 22nd, 2008. The Bank is expected to cut interest rates by another 50 basis points (0.5%) to generate some stimulus in the weakening economy. This is of course great news for anyone on floating rate mortgages and buyers of real estate. With MLS listings at numbers we haven’t seen in years, buyers have more choice than ever when looking for that perfect place.

Be sure to check back tomorrow to see my post about the rate change meeting and my commentary.

Tim Ayres

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