The average price of a house in Greater Victoria in January dropped $40,000 below December's average price.
The new average, calculated by the Victoria Real Estate Board, is $603,401. That's also lower than the average price in January 2010, of 644,678.
While the median price for a single family house increased between December and January to $576,000, it tumbled nearly $20,000 below January last year.
The average price of a condo increased from $301,671 in December to $323,002 in January. That's also an increase over the January 2010 average of $315,000.
The median price of a condo also increased from $285,000 to $293,000 in January. That's a slight descent from January 2010, that showed a median of $299,900.
Last month, 339 properties sold in Greater Victoria, including 178 single-family houses and 90 condominiums.