Real estate stability indicates healthy market

House sales were higher in November 2011 than in the same month last year

Steady house sales throughout Greater Victoria in November indicates a healthy market, says the president of the Victoria Real Estate Board.

“We were pleased to see that sales last month were higher than in November of last year and showed little change from October,” Dennis Fimrite said. “Looking forward, we anticipate continued stability as we move into 2012.”

Fimrite noted that there was some variability in prices last month, depending on property type.

“It’s important to look at price changes over several months to determine what trends are developing as there will always be month-to-month fluctuations in prices depending on what properties sell in a given month.”

He added that that there were 11 single-family house sales of more than $1 million in November, including one for more than $6 million in Oak Bay.

A total of 482 homes and other properties sold through the Victoria Real Estate Board’s Multiple Listing Service, compared to 483 sales in October. There were 479 sales in November of 2010.

The number of properties available for sale dropped off in November to 4,329 compared to 4,687 at the end of October.

“Inventory levels remained 16 per cent higher than a year ago but have fallen back from a peak of over 5,000 seen earlier this year,” said Fimrite.

The average price for single-family house sold in Greater Victoria last month was $592,034, down slightly from $595,836 in October.

The overall average price for condominiums last month was $320,558, up from $307,329 in October. The average price of all town homes sold last month was $380,675 compared to $428,040 in October.

MLS sales last month included 293 single-family houses, 104 condominiums, 48 town homes and 10 manufactured homes.

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

Just Posted

One person is dead after a camper van caught fire Thursday morning in Victoria's Beacon Hill Park. (Nina Grossman/News Staff)
One person dead after vehicle fire in Beacon Hill Park

Investigation into Victoria death in early stages

Protestors against old growth logging gather in front of the courthouse in Victoria on Thursday morning. (Don Denton/Black Press Media)
Fairy Creek protesters gather at Victoria courthouse

Logging company seeks injunction to remove blockades near its Port Renfrew operation

Victoria police are searching for a federal offender who is wanted Canada-wide after his statutory release was suspended. (Courtesy of Victoria Police Department)
Victoria police searching for federal offender wanted Canada-wide

Warrant issued after offender’s statutory release suspended

A recently finished $4.3-million taxiway extension at the Victoria International Airport (not pictured) is unusable because of a blind spot. (Black Press Media file photo)
Blind spot leaves Victoria airport’s new $4.3-million taxiway extension unusable

Solution has been put on hold by COVID-19 pandemic, says airport authority

Lansdowne Middle School.
(Black Press Media File Photo)
Health Minister Adrian Dix looks on as Dr. Bonnie Henry pauses for a moment as she gives her daily media briefing regarding COVID-19 for British Columbia in Victoria, B.C. THE CANADIAN PRESS/Jonathan Hayward
7 additional deaths and 542 new COVID-19 cases in B.C.

Provincial health officials reported 18 new COVID-19 cases linked to variants of concern

Anyone with information on any of these individuals is asked to call 1-800-222-TIPS (8477) or visit the website victoriacrimestoppers.ca for more information.
Greater Victoria Crime Stoppers wanted list for the week of March 2

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

(Black Press Media file photo)
POLL: How’s your butter?

Recent reports have some Canadians giving a second look to one of… Continue reading

A Cowichan Valley mom is wondering why masks haven’t been mandated for elementary schools. (Metro Creative photo)
B.C. mom frustrated by lack of mask mandate for elementary students

“Do we want to wait until we end up like Fraser Health?”

(Pxhere)
B.C. research reveals how pandemic has changed attitudes towards sex, health services

CDC survey shows that 35 per cent of people were worried about being judged

Some Canadians are finding butter harder than usual, resulting in an avalanche of social media controversy around #buttergate. (Brett Williams/The Observer)
#Buttergate: Concerns around hard butter hit small B.C. towns and beyond

Canadians find their butter was getting harder, blame palm oil in part one of this series

Construction takes place on Bamfield Main in early February 2021. (PHOTO COURTESY CTV NEWS)
Ongoing Bamfield roadwork unrelated to planned $30M fix

Construction by Mosaic unrelated to $30M upgrade ordered in wake of fatal bus crash

The Regional District of Nanaimo’s board is forwarding a motion on illegal dumping to the Association of Vancouver Island and Coastal Communities’ upcoming annual general meeting. (Kane Blake photo)
Island communities asked to join forces in seeking help fighting illegal dumping

RDN resolution to be forwarded to Association of Vancouver Island and Coastal Communities

Jobs Minister Ravi Kahlon speaks in the B.C. legislature, describing work underway to make a small business and tourism aid package less restrictive, Dec. 10, 2020. (Hansard TV)
B.C. extends deadline for tourism, small business COVID-19 grants

Business owners expect months more of lost revenues

Most Read