Ah February, we hardly knew ye! The shortest month of the year has come and gone – and not including my trip to Winnipeg, I didn’t see a single snowflake – it looks like we’ve escaped winter this year in Sooke. But how did the real estate market do this month?
February 2012
- New listings, all property types: 79 (56 SFD)
- Sales, SFD: 20
- Sales, all property types: 26
- Lowest price: a manufactured home at $28,000
- Highest price: a new home at $630,000
- Average price, SFD: $385,670
- Median price, SFD: $369,000
- Active listings, all property types: 343
- Sale price breakdown (SFD): $200K-$300K: 1 | $300K-$400K: 12 | $400K-$500K: 6 | $500K-600K: 1 | $600K +: 1
- Average Days On Market, SFD: 91
February 2013
- New listings: 53 (43 SFD)
- Single family detached sales: 17
- Total sales, all property types: 25
- Lowest price: a manufactured home at $23,500 – Lowest price SFD: a nice house on Acreman for $310,000
- Highest price: $720,000 (a custom log house on 4 acres in East Sooke.)
- Average price, single family detached: $434,411
- Median price, single family detached: $387,583
- Active listings, all property types: 370
- Sale price breakdown (SFD): $300K-$400K: 10 | $400K-$500K: 4 | $600K+: 3
- Average Days On Market, SFD: 146
So this February was very close to last February in terms of total number of sales. The average is definitely skewed higher by several high end homes, but the median price continues to hover near the trend for the past few months. Some interesting numbers: new listings are dramatically lower than in 2012, and are even lower than last month. Usually we see a rise of new listings that carries over from month-to-month after January. Last month there were 96 new listings, compared to the 53 this month. Again Sooke bucked the trend of the greater Victoria reason, where an 18% drop in total sales numbers between February 2012 and 2013 was experienced, compared to just 4% fewer sales in Sooke. I hope this is the beginning of a trend. Prices are more reasonable and interest rates are still very low, so if you’re looking to buy, it’s a great time.
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