Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in January 2019.
In January 2019, there were 127 sales of single family homes and 688 active listings in Greater Victoria. The benchmark sale price was $742,000 with an average days on market of 59. The hottest market for sales was Langford with 28 sales. There were also 6 sales and 110 active listings at the end of the month for waterfront homes.
In comparison, the Condo market had 111 sales and 388 active listings at the end of the month. The benchmark sale price was $491,700 with an average days on market of 48. The hottest market for sales was Victoria, 45 sales.
Townhome sales were 37, active listings were 177 and the benchmark sale price was $587,500. The average days on market were 47, and the hottest market was Langford with 9 sales.
It’s a seller’s market for condos.
Looking for more information about the real estate market in specific neighbourhoods in Victoria, Parksville, Nanaimo, Vancouver Island and the Gulf Islands?
Macdonald Realty has offices in downtown Victoria, Sidney, Parksville and on Salt Spring Island. Please email firstname.lastname@example.org or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.
This blog post is based on market data provided by the Victoria Real Estate Board (VREB) www.vreb.org and the Vancouver Island Real Estate Board (VIREB) www.vireb.com. Market data from the VIREB includes listings and sales in Campbell River, Comox Valley, Cowichan Valley Nanaimo, Parksville/Qualicum, Port Alberni/West, North Island, and the Islands.