Victoria Real Estate Board Statistics June, 2011

Wed, 06 Jul 2011 16:39:48 GMT

Current MLS® Statistics

July 4, 2011

A total of 618 homes and other properties sold in June through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), up from 572 sales in May and very close to the 625 sales in June of last year.

Victoria Real Estate Board President, Dennis Fimrite, noted that market activity has returned to

comparable levels of a year ago. "Overall sales so far this year are down 21 per cent compared to a year

ago. It’s important to note, however, that the first few months of last year were very activecompared to

this year and we are now seeing a return to similar market conditions of a year ago."

Fimrite added that the number of properties available for sale continued to increase at the end of last

month with inventory levels currently seven per cent higher than a year ago. "The available choice for

buyers increased further last month with 5,050 properties available for sale at the end of June - the

highest monthly level in 15 years." Fimrite add that there were 4,857 properties available for sale at the

end of May.

The average price for single-family homes sold in Greater Victoria last month was $629,292, up from

$628,462 in May. The median price also rose to $569,900 while the six-month average declined slightly

to $619,568. There were 23 single family home sales of over $1 million in June. The overall average pricefor condominiums last month was $320,172, down from $328,345 in May. The average for the last six months rose to $329,402. The median price for condominiums in June also rose to $300,000. The

average price of all townhomes sold last month declined to $444,768 from $466,845 in May. The median price also declined to $399,000 while the six month average rose to $448,159.

MLS® sales last month included 348 single family homes, 177 condominiums, 62 townhomes and nine manufactured homes.

Current MLS Statistics from the Victoria Real Estate Board

Victoria Real Estate Board Statistics June, 2011