Real estate buyers in the Victoria area have a growing number of properties from which to choose.The total number of properties available for sale rose to 3,591 in March – a 17 per cent increase
over March of last year. Victoria Real Estate Board President, Tony Joe, says the return to a
balanced market is good news for both buyers and sellers. “With more properties available for sale,
buyers now have a greater choice, but the continued demand for homes and steady prices mean
sellers can anticipate strong interest in properties that are realistically priced.” There were 707
sales through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) in March, down
from the 833 sales in the same month a year ago but up 14 per cent from the 619 sales in February.
Joe added that prices remained steady last month, “Twenty-eight per cent of single family homes
sold for under $450,000 while nearly 36 per cent of condominiums sold for under $275,000.” At the
higher end of the market, Joe noted that there were 20 sales in Greater Victoria and two sales on
the Gulf Islands of over $1 million.
The average price of single family homes sold in March in Greater Victoria was $597,176; the
median price was lower at $529,625. The six-month average for single family homes was
$591,439. The average price of all condominiums sold in March was $328,734; the average for the
last six months was $332,552. The median was again lower at $300,000. The average price of all
townhomes sold last month was $458,378; the six month average was $437,523. The median price
was $411,500.
MLS® sales last month included 407 single family homes, 170 condominiums, 68 townhomes and
16 manufactured homes.