House sales remain slow as summer nears

Prices stable, despite little movement in real estate market

Real estate sales in Greater Victoria continued to slip last month.”Sales so far this year are running over 20 per cent below last year’s levels, but it is important to remember that sales were exceptionally strong during the first few months of 2010,” said Dennis Fimrite, president of the Victoria Real Estate Board, in a statement. “Tighter credit conditions and anticipated higher mortgage rates have and will have some moderating effect on the market and prices are expected to remain relatively flat and stable for the time being.”Even while inventory increased between March and April of this year, sales didn’t match the supply. In Greater Victoria, 4,100 properties were available at the end of March, while 622 properties sold in March and 574 sold in April.Last April saw 756 sales.The average and median prices for single-family houses decreased slightly last month. The six-month average in April was $621,412 – also a drop from March’s number. The average and median prices for condos increased, with the average moving up by $28,277 to $383,858 in April. April’s six-month average for condos was better than March’s, at $331,108. The average, median and six-month average for townhouses increased as well, with the latter at $439,450 for April.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Oak Bay council places 60-day protection order on Island Road house

Developer pulled heritage agreement over ‘exorbitant’ $417,000 fees

Saanich council to dig into long-awaited garden suite study

Detached suites keep families close, provide financial flexibility, mayor says

BIPOC artists come together to paint mural highlighting racial injustice in Bastion Square

‘More Justice, More Peace’ to go beyond cycle of hurt and sadness

Victoria man charged in stabbing death of Vancouver overdose prevention worker

Maximus Roland Hayes, 23, is facing one count of manslaughter in connection to the killing

Firefighters tackle medium-sized grass fire on rural Saanich property

Saanich Fire Department issues warm weather fire safety reminder

VIDEO: Greater Victoria police officers try bhangra dancing with social media star

Gurdeep Pandher leads bhangra lesson on front lawn of the BC Legislature building

Captain Horvat’s OT marker lifts Canucks to 4-3 win over Blues

Vancouver takes 2-0 lead in best-of-7 NHL playoff series with St. Louis

Widow of slain Red Deer doctor thanks community for support ahead of vigil

Fellow doctors, members of the public will gather for a physically-distanced vigil in central Alberta

Taking dog feces and a jackhammer to neighbourhood dispute costs B.C. man $16,000

‘Pellegrin’s actions were motivated by malice …a vindictive, pointless, dangerous and unlawful act’

Racist stickers at Keremeos pub leaves group uneasy and angry

The ‘OK’ hand gesture is a known hate-symbol

VIDEO: World responds to B.C. girl after pandemic cancels birthday party

Dozens of cards and numerous packages were delivered to six-year-old Charlie Manning

Expected fall peak of COVID-19 in Canada could overwhelm health systems: Tam

National modelling projections released Friday show an expected peak in cases this fall

Hundreds of sea lions to be killed on Columbia River in effort to save endangered fish

Nearly 22,000 comments received during public review were opposed, fewer than 200 were for

Most Read