The stats are in. All in all August was a good month for real estate sales in Victoria. The median selling price on a single family home in Greater Victoria was $547, 000, the average was $652,841 and the six-month average was $621,960.
The overall average price for condominiums last month was $339,047, the six month average was $329,951 and the median was $271,500.
Sales were up from August last year with a total of 542 homes sold which is a great sign that our housing market is stable. While last month’s sales were strong overall inventory is still robust.
So what does this mean? If you’re a buyer this is a great time to get into the market. Interest rates remain low providing greater accessibility to the market place and lots of inventory means you’ve got more choices.
If you’re a seller be sure to put your best foot forward. Things like decluttering and staging your home can go a long way if you want to outperform your competition.
An EnerGuide rating shows a standard measure of your home’s energy performance. It shows you (and future buyers) exactly how energy efficient your home is.
The rating is calculated based on standard operation assumptions so that you can compare the energy performance of one house against another.
The home’s energy efficiency level is rated on a scale of 0 to 100. A rating of 0 represents a home with major air leakage, no insulation and extremely high energy consumption.
A rating of 100 represents a house that is airtight, well insulated, sufficiently ventilated and requires no purchased energy on an annual basis (National Resource Canada)
Luckily this home at 1270 Oceanwood in Victoria BC is rated 85 and is a ‘built green platinum’ home – meaning it’s super efficient and available for sale for $895,000. More info here.
Vancouver, BC – June 30, 2011.
The British Columbia Real Estate Association (BCREA) released its 2011 Second Quarter Housing Forecast today. BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 5 per cent from 74,640 units in 2010 to 78,200 units this year, before increasing a further 3.1 per cent to 80,700 units in 2012.
“Home sales will post some modest gains over the next two years,” said Cameron Muir, BCREA Chief Economist. “However, positive housing fundamentals like job growth, rising wages and an expanding population base will be somewhat offset by higher borrowing costs over the next eighteen months.”
“Following a decade where unit sales broke all records, consumer demand over the next few years will be relatively moderate,” added Muir. The ten-year BC MLS® residential sales average is 87,000 units. A record 106,300 MLS® residential sales were recorded in 2005.
Chelsea is one of Concert Properties newest concrete and steel condos in beautiful Victoria. Concert is one of Canada’s most decorated developers and this building reflects the developer’s commitment is quality. Chelsea is a low rise building with an intimate collection of only 66 homes, and is located in Fairfield at 999 Burdett.
The building seamlessly integrates with the character of the neighborhood, and is surrounded a beautiful heritage brick wall. The majority of the suites offer 2 bedrooms and a den. This is truly one of Victoria’s most desirable condominiums, and the perfect choice for those looking to downsize and simplify their life. For up to date pricing, and availability in the building please get in touch.
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