Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria and Vancouver Island listings and sales in September 2016.
In September 2016, there were 341 sales of single family homes and 560 active listings in the Greater Victoria. The benchmark sale price was $615,600 with an average days on market of 33. The hottest market for sales was Saanich East with 80 sales. There were also 24 sales and 179 active listings at the end of the month for waterfront homes.
In comparison, the Condo market had 205 sales, 303 active listings at the end of the month. The benchmark sale price was $362,800 with an average days on market of 31. The hottest market for sales was Victoria, 72 sales.
Townhome sales were 81, active listings were 116 and the benchmark sale price was $486,800. The average days on market were 40, and the hottest market was Langford with 30 sales.
It’s a seller’s market in Victoria.
The following is the summary of Vancouver Island market:
Looking for more information about the real estate market in specific neighbourhoods in Victoria, 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.