It’s been a busy first month of the year for local real estate agents – myself included! After a very quiet last quarter of 2012, I’m hoping this means that we can look forward to a year marked by robust sales yet affordable prices here in Sooke. Let’s see how the numbers break down:In Sooke, sales last month were up nearly 31% over January 2012, bucking the overall trend in Greater Victoria where sales (including Sooke) were 21% fewer than January 2012. Single family sales in Sooke were up 33% over the same month last year. In fact, the total number of sales in January 2013 is higher than the same month in 2012, 2011, and 2009. January 2010 had only three more sales. I’d say that is a step in the right direction for our market, to return it to balance.
January 2012
- New listings: 74 (47 Single Family Dwellings SFD)
- Single family detached sales: 9
- Total sales, all property types: 16
- Lowest price: a manufactured home (my sale) at $50,000
- Highest price: $499,900 (a new home in Sun River)
- Average price, single family detached: $333,311
- Median price, single family detached: $326,000
- Active listings, all property types: 352
- Sale price breakdown (SFD): $100k-$200K: 1 | $200K-$300K: 1 | $300K-$400K: 6 | $400K-$500K: 1
- Average Days On Market, SFD: 95
January 2013
- New listings: 96 (74 SFD)
- Single family detached sales: 12
- Total sales, all property types: 21
- Lowest price: a manufactured home at $13,900 – Lowest price SFD: a court-ordered sale at $260,000
- Highest price: $620,000 (a new view home on an acreage on Carpenter Road)
- Average price, single family detached: $406,333
- Median price, single family detached: $400,000
- Active listings, all property types: 385
- Sale price breakdown (SFD): $200K-$300K: 2 | $300K-$400K: 7 | $400K-$500K: 5 | $600K+: 1
- Average Days On Market, SFD: 146
Other points that stick out to me are the average and median prices – if you look at my last stats post (the year-end wrap up from 2012), you’ll see that these indicators have held fairly solid for quite some time. While sales have outpaced the last few months and January 2012, listings and active listings are also up. Pricing your property right remains key, and as always I believe that getting on the market early in the year is the best course of action for success in 2013. If you are thinking of selling, contact me and let’s talk about the market and how your property fits in.
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