VREB Sales Report April 2012

I just sold this Single family home at 487 Ker Ave, Victoria, BC Tillicum/Gorge.

View this recently sold Single family home or see all my home sales

We are proud to announce that this Apr 21st, 1:00 PM to 4:00 PM we will be hosting an Open House at 604 Steward Mountain Road in the Highlands neighborhood, Victoria. This is an opportunity to visit this excellent Single family home for sale in beautiful Highlands.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Highlands Single family home for sale.

As always please do not hesitate to give me a call at #250-217-5091 if I can answer any questions before the open house, or if you would like to book a private showing.

Kevin Ramsay
Fair Realty

We are proud to announce that this Apr 22nd, 1:00 PM to 3:00 PM we will be hosting an Open House at 487 Ker Ave in the Tillicum/Gorge neighborhood, Victoria. This is an opportunity to visit this excellent Single family home for sale in beautiful Tillicum/Gorge.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Tillicum/Gorge Single family home for sale.

As always please do not hesitate to give me a call at #250-217-5091 if I can answer any questions before the open house, or if you would like to book a private showing.

Kevin Ramsay
Fair Realty

Please note the change for this upcoming openhouse.

We are proud to announce that this Apr 15th, 2:00 PM to 4:00 PM we will be hosting an Open House at 604 Steward Mountain Road in the Highlands neighborhood, Victoria. This is an opportunity to visit this excellent Single family home for sale in beautiful Highlands.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Highlands Single family home for sale.

As always please do not hesitate to give me a call at #250-217-5091 if I can answer any questions before the open house, or if you would like to book a private showing.

Kevin Ramsay
Fair Realty

Please click on the link to access report.

VREB stats March 2012

March 1, 2012 

February 2012 Victoria Real Estate Market Reflects Consumer Confidence 

The story continues from last month when the Victoria Real Estate Board reported a relatively stable market when compared to the same time in 2011, but REALTORS® report they are optimistic that new provincial HST transition rules and a New Home First-time Buyers Bonus will stimulate sales of new properties. 

February’s sale volume was virtually identical to that of February 2011, but the average price softened by 5% for single family homes month over February 2011. The average sales price for a single family home in Greater Victoria was $579,985, with a sixmonth average of $594,027, showing a corresponding decrease of 4.7% over February 2011.  

“REALTORS® are reporting increased showings, especially since the Provincial budget announcements,” says Carol Crabb, President of the Victoria Real Estate Board. “Our Members tell me the HST transition rules, increased HST rebates and New Home First-time Buyers Bonus are stimulating traffic for both new houses and condos. 

“I think the BC budget also instilled consumer confidence. Potential buyers can see that our economy is stable and mortgage rates are incredibly low”, Crabb says. “Not only are prices remaining stable, there are enough listings to allow buyers to perform their due diligence without making rash decisions. We encourage buyers to work with REALTORS® to ensure they are educated about current market conditions and recently announced government incentives.” With 3,977 active listings at the end of February, Crabb notes increased supply levels and sales are expected in keeping with the normal historical trend of spring activity.

248 Single Family Homes sold in February in the greater Victoria area, up from 174 sales in January.  Average price $579,985 ($581,519 in Jan), Median $530,000 ($525,000 in Jan).

136 Condos sold in February, up from 191 in January.  Average price $313,093 ($306,546 in Jan), Median $276,250 ($271,250 in Jan).

65 Townhouses sold in February, up from 41 in January.  Average price $393,934 ($396,911 in Jan), Median $378,450 ($365,000 in Jan).

16 Manufactured Homes sold in February, up from 8 in January.  AVerage price $118,056 ($103,375 in Jan), Median $112,500 ($105,000 in Jan).

3,977 total Active listings remaining at the end of February compared to 3,715 at the end of January.

We are proud to announce that this Jan 15th, 2:00 PM to 4:00 PM we will be hosting an Open House at 2614 Scott St in the Fernwood neighborhood, Victoria. This is an opportunity to visit this excellent Single family home for sale in beautiful Fernwood.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Fernwood Single family home for sale.

As always please do not hesitate to give me a call at #250-217-5091 if I can answer any questions before the open house, or if you would like to book a private showing.

Kevin Ramsay
Fair Realty

Last Half of 2011 Sees Stabilized Real Estate Market 

While the real estate market started out sluggish in 2011, by mid-summer unit sales had stabilized. In December, annual sales for single family homes, townhomes and manufactured homes had increased, while condominium sales decreased by 15% compared to December 2010. 

“This may be the result of an increased number of lower priced single-family homes that became available,” says Carol Crabb, President of the Victoria Real Estate Board. Crabb cites that housing prices have softened since December 2010, when the average single family home sold for $647,063, while in 2011 average prices fluctuated and now rest at $592,582.

 “This is still quite high compared to the average of $534,411 during the first quarter of 2009. My feeling is that 2010 closed with a very strong market and in 2011, we saw average sales hit the 2010 high only in August,” says Crabb. 
“During the last quarter of 2011, it has been virtually unchanged month over month. While we were trending towards a buyers’ market, based on both the prices and number of properties for sale, the decline in the number of active listings in December 2011 continues to reflect a balanced market,” she says. 

December 2011 saw 2,901 residential and 879 non-residential active listings (total 3780), from a peak of over 4,178 residential and 916 non-residential listings (5,094) in July 2011. This is the first time the number of active listings has been fewer than 4,000 since February 2011. 

December marked fewer real estate sales in Greater Victoria, with a total of 339 homes and other properties selling through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), down from 482 sales in November. There were 349 sales in December 2010. Crabb notes that sales typically decline each December, reflective of the holiday season.  

The average price for single-family homes sold in Greater Victoria last month was $592,582, up slightly from $592,034 in November.  The median price also increased to $535,750 while the six-month average declined to $607,221. The overall average price for condominiums last month was $312,066, down from $320,558 in November.  The median price for condominiums in December also decreased to $270,000 while the average for the last six months declined marginally to $321,177.  The average price of all townhomes sold last month was $387,719 compared to $380,675 in November. The median price increased to $375,000 from 360,000, while the six month averagedeclined to $416,361. 
There were six sales of single-family homes marginally over $1 million, with one in View Royal and five in Saanich East. The highest volume of sales in December 2011 was in Saanich East. 

MLS® sales last month included 183 single family homes, 89 condominiums, 37 townhomes and 11 manufactured homes, totaling 320 residential sales. 

*** While the use of average price information can be useful in establishing trends when applied over a period of time, i.e. six months or longer, the Victoria Real Estate Board cautions that an average price does not indicate the actual value of any particular property.  Those requiring specific information on property values should contact a REALTOR®. ***

December 1, 2011

Real Estate Activity Stable in November

Real estate sales activity remained steady throughout Greater Victoria last month with a total of 482 homes and other properties selling through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), virtually unchanged from 483 sales in October. There were 479 sales in November of last year. Overall prices, meantime, remained mixed, depending on price measure and property type. 

Victoria Real Estate Board President, Dennis Fimrite, said the continued stability in sales is indicative of a balanced and healthy market, “We were pleased to see that sales last month were higher than in November of last year and showed little change from October. Looking forward, we anticipate continued stability as we move into 2012.” Fimrite noted that there was some variability in prices last month, depending on property type, “It’s important to look at price changes over several months to determine what trends are developing as there will always be month-to-month fluctuations in prices depending on what properties sell in a given month.”

He added that that there were 11 single family home sales of over $1 million in November including one for over $6 million in Oak Bay.  Fimrite added that the number of properties available for sale eased last month to 4,329 compared to 4,687 at the end of October. “Inventory levels remained 16 per cent higher than a year ago but have fallen back from a peak of over 5,000 seen earlier this year.”

The average price for single-family homes sold in Greater Victoria last month was$592,034, down slightly from $595,836 in October. The median price also declined to $530,000 (from $539,750) while the six-month average declined to $613,259. The overall average price for condominiums last month was $320,558, up from $307,329 in October. The median price for condominiums in November also increased to $296,000 (from $277,000) while the average for the last six months declined slightly to $321,941. The average price of all townhomes sold last month was $380,675 compared to $428,040 in October. The median price declined to $360,000 (from $374,500) while the six month average declined to $425,095.

MLS® sales last month included 293 single family homes, 104 condominiums, 48 townhomes and 10 manufactured homes.

 

*** While the use of average price information can be useful in establishing trends when applied over a period of time, i.e. six months or longer, the Victoria Real Estate Board cautions that an average price does not indicate the actual value of any particular property. Those requiring specific information on property values should contact a REALTOR®. ***

I just finished uploading this Single family home for sale, 670 Ker Ave, Victoria, BC

Gorgeous and extensively renovated house on a large riverfront lot. The original 1910 home was gutted and treated to a $170k improvement. Main level has vaulted ceilings, a Chef's dream kitchen (vaulted ceilings, gas range, distressed wood cabinets, fir floors, black appliances, breakfast bar, 3" maple butcher's block, views), gas f/p, wood blinds. Large main bedroom with deluxe ensuite featuring cast iron tub. 2nd bedroom on main level has murphy bed. Living room has original dark hardwood floors and a gas fireplace - looks and feels warm! Downstairs has a self contained, 2 bedroom, legal in-law suite with separate laundry and extra soundproofing between suites. Excellent source of income or easily reattached to main level if one family chooses to enjoy this house. Updated windows, electrical (200 amp), insulation, cedar siding, asphalt roof (incl. garage), plumbing and more. Serene 0.4 acre lot with dog run, double garage, carport, and gazebo - steps from Cuthbert Holmes park. Meadow park/playground just across Ker Ave. MORE INTERIOR PHOTOS AND FLOORPLANS AFTER DEC 15TH BUT IT CAN BE VIEWED NOW WITH 24 HRS NOTICE.

November 1, 2011

Real Estate Activity Increases in October

Real estate sales activity showed a modest increase throughout Greater Victoria last month with a total of 483 homes and other properties selling through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), up from 458 sales in September. There were 467 sales in October of last year. Overall prices, meantime, remained mixed, depending on price measure and property type.

 

Victoria Real Estate Board President, Dennis Fimrite, said the increase in sales activity is good news and reflects ongoing stability in the market, “It is encouraging to note that sales last month were higher than in the previous month and compared to October of last year.” Fimrite added that there will always be month-to-month fluctuations in prices and that average prices are particularly susceptible to change depending on whether more higher priced or lower priced properties sell in a particular month. “There was some general softening in most price measures last month but it is interesting to note that while the overall average price for single family homes declined last month, the median price actually rose by almost $5,000,” noted Fimrite. He added that that there were 14 single family home sales of over $1 million in September including one on the Gulf Islands.

 

Fimrite added that the number of properties available for sale eased last month though inventory levels remained 16 per cent higher than a year ago. “The number of properties available for sale declined last month to 4,687 compared to 4,940 at the end of September.”

 

The average price for single-family homes sold in Greater Victoria last month was $595,836, down from $622,393 in September. However, the median price increased to $539,750 (from $535,000) while the six-month average decreased slightly to $619,828. The overall average price for condominiums last month was $307,329, down from $332,490 in September. The median price for condominiums in October declined only slightly to $277,000 (from $279,900) while the average for the last six months declined to $323,039. The average price of all townhomes sold last month was $428,040 compared to $436,039 in September. The median price declined to $374,500 (from $391,000) while the six month average declined to $438,167.

 

MLS® sales last month included 260 single family homes, 145 condominiums, 46 townhomes and 10 manufactured homes.

 

While the use of average price information can be useful in establishing trends when applied over a period of time, i.e. six months or longer, the Victoria Real Estate Board cautions that an average price does not indicate the actual value of any particular property. Those requiring specific information on property values should contact a REALTOR®.

I just finished uploading this Manufacture Mobile for sale, 26 3640 Trans Canada Hwy, Cobble Hill, BC

This two bedroom mobile home is located on the Trans Canada Highway for an easy drive to shopping in Mill Bay or Cowichan Bay, Arbutus Ridge Golfing, Cowichan Bay and Mill Bay Marinas and easy commute to Victoria or Duncan. Enjoy the spacious landscaped pad with huge patio for outdoor enjoyment. If you are looking for comfortable and convenient affordable housing, here it is. Springwood Park is a well maintained, 55+ park, where pride of ownership is evident throughout. Easy to view.

I just finished uploading this Single family home for sale, 2614 Scott St, Victoria, BC

Charming Fernwood home that has been fully updated and renovated with over 70k in improvements including: new windows, new electrical, new insulation, new heating, new stucco, new deck, new kitchen, new bathrooms, and more. New paint and flooring throughout main level. Wood burning fireplace in living room. Big kitchen with eating area. Basement is semi-finished with laundry area, bedroom, and 3 piece bathroom - ideal for adding a 1 BR suite. Detached single garage with automatic door. Backyard is partially fenced and has a high hedge for privacy. Immediate possession possible - move in ready.

I just sold this Single family home at 4015 Haro Rd, Victoria, BC Cadboro Bay.

View this recently sold Single family home or see all my home sales

I just sold this Single family home at 2653 Scott St, Victoria, BC Fernwood.

View this recently sold Single family home or see all my home sales

We are proud to announce that this Oct 23rd, 2:00 PM to 4:00 PM we will be hosting an Open House at 4015 Haro Rd in the Cadboro Bay neighborhood, Victoria. This is an opportunity to visit this excellent Single family home for sale in beautiful Cadboro Bay.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Cadboro Bay Single family home for sale.

As always please do not hesitate to give me a call at #250-217-5091 if I can answer any questions before the open house, or if you would like to book a private showing.

Kevin Ramsay
Fair Realty

I just finished uploading this Apartment for sale, 304 1518 Pandora Ave, Victoria, BC

DAILY OPEN HOUSES: 1-3PM. CHECK IN AT FAIR REALTY OFFICE, 1564 FORT ST, STADACONA CENTER AND THE REALTOR ON DUTY WILL TAKE YOU THROUGH THE SUITE. Great penthouse suite with lots of skylights plus a big balcony on the quiet side of the building. Large master bedroom, 14'x10', with a walk-through closet and large ensuite bathroom with no step shower. Big living room with 8' ceilings, electric fireplace, adjacent to open dining area. In-suite laundry, portable dishwasher, in-suite storage locker, and secure parking space included. Rentals restricted to 5 units, no pets, adult-only complex (19+). All amenities at your door step, next to Stadacona Center and close to Camuson, UVIC, Royal Jubillee and downtown.

October 3, 2011 

Real Estate Sales Ease in September Outlook for Balance of 2011 Remains Stable 

Real estate sales activity softened throughout Greater Victoria last month with a total of 458 homes and other properties selling through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), down from 542 sales in August.  Sales last month were, however, 16 per cent higher than the 395 sales in September of last year.  Prices, meantime, remained mixed depending on the property type.  

Victoria Real Estate Board President, Dennis Fimrite, noted that the overall market remains stable despite some easing of sales in September.  “There has been some softening in activity over the last year with the number of sales so far this year running about 10 per cent below last year’s levels.  However, sales during the last two months have been higher than in August and September of last year and we anticipate stable market conditions for the balance of this year.”  Fimrite noted that despite economic uncertainty, interest rates remain very attractive and this is positive news for buyers.  He added that that there were 17 single family home sales of over $1 million in September including one in Saanich East at over $6 million. 

Fimrite added that the number of properties available for sale remained virtually unchanged last month with inventory levels currently 14 per cent higher than a year ago.  “The number of properties available for sale declined very slightly last month to 4,940 compared to 4,944 at the end of August.”   The average price for single-family homes sold in Greater Victoria last month was $622,393, down from $652,841 in August.  The median price also declined to $535,000 (from $547,000) while the six-month average increased slightly to $622,519. The overall average price for condominiums last month was $332,490, down from $339,057 in August.

The average for the last six months increased slightly to $331,209. The median price for condominiums in September also increased to $279,900 (from $271,500).  The average price of all townhomes sold last month showed little change at $436,039 compared to $437,079 in August. The median price declined to $391,000 (from $416,700) while the six month average increased slightly to $447,127. 

MLS® sales last month included 244 single family homes, 128 condominiums, 52 townhomes and 12 manufactured homes. 

While the use of average price information can be useful in establishing trends when applied over a period of time, i.e. six months or longer, the Victoria Real Estate Board cautions that an average price does not indicate the actual value of any particular property.  Those requiring specific information on property values should contact a REALTOR®.

I just sold this Single family home at 1750 Albert Ave, Victoria, BC Fernwood.

View this recently sold Single family home or see all my home sales