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.

Just Posted

The Jordie Lunn Bike Park officially opened in Langford on June 22. (Kiernan Green/Black Press Media)
Tires hit the dirt for Jordie Lunn Bike Park opening in Langford

Legendary local rider remembers by family, friends

Mieran Loira, who works at Moxie’s restaurant on Yates Street, was named a winner in the BC Restaurant and Foodservices Association’s #StandUpForService campaign. (Courtesy Town Hall Brands)
Victoria Moxies server can’t hide her smile, earns provincial kudos for pandemic work

Personality, charisma shine despite masks, coronavirus challenges

Swanwick Ranch in Metchosin, featuring an award-winning home on 67 acres of property overlooking the ocean, recently sold for a record-setting, yet undisclosed amount. (Sotheby’s International Realty Canada photo)
Sale of oceanfront property in Metchosin yields new record for Greater Victoria

Listed at $14.1 million, Swanwick Ranch sold to an undisclosed buyer

The number of skilled trades workers available is not enough to fill the current construction boom in Greater Victoria. (Black Press Media file photo)
Influx of skilled tradespeople falling behind Greater Victoria construction boom

Thousands of positions will be needed by 2030, despite flow of Camosun trades students

The price of gas is way up in many parts of Greater Victoria after a Monday afternoon surge sent it to 162.9 cents per litre. (Black Press Media file photo)
Gas prices surge to 162.9 cents a litre at some Greater Victoria stations

Prices jumped up more than 10 cents Monday afternoon

Nanaimo Fire Rescue crews on scene at a boat fire near the boat ramp at Long Lake on Sunday, June 20. (Greg Sakaki/News Bulletin)
Boat burns up on Nanaimo’s Long Lake, man and child unhurt

Jet skiers attempt to put out fire by circling around to spray water on burning boat

Penticton mayor John Vassilaki and Minister of Housing David Eby have been battling over the Victory Church shelter and BC Housing projects in the city. (File photos)
Penticton heads to court over homeless shelter as BC Housing audit begins

The city was not satisfied with the response from Minister David Eby regarding the ongoing situation

People enjoy the sun at Woodbine Beach on June 19, 2018. THE CANADIAN PRESS/ Tijana Martin
BC Hydro assures customers it has ‘more than enough’ power to weather the heatwave

Despite an increase of pressure on the Western grid, blackouts are not expected like in some U.S. states

Air Canada planes sit on the tarmac at Pearson International Airport during the COVID-19 pandemic in Toronto on Wednesday, April 28, 2021. THE CANADIAN PRESS/Nathan Denette
Pilots say no reason to continue quarantines for vaccinated international travellers

Prime minister says Canada still trying to limit number of incoming tourists

This map outlines the area affected by the open burning prohibition. Via Coastal Fire Centre
Vancouver Island open fire prohibition takes effect June 23

Ban applies to both public and private land, includes fireworks

Val Litwin is the latest candidate to declare his bid for the B.C. Liberal leadership. (Litwin campaign video)
Political newcomer joins contest for B.C. Liberal leadership

Val Litwin a former B.C. Chamber of Commerce CEO

Golden Ears Mountains, captured in May 2021. (Black Press Media files)
2nd year of day passes required for entry into 5 provincial parks launches in B.C.

Pilot program seeks to protect the environment by addressing visitor surges amid the COVID-19 pandemic

Lincoln Mckoen. (YouTube)
Anglican bishop of the central Interior resigns over sexual misconduct allegations

Lincoln Mckoen was elected as a bishop of the Territory of the People region last year

The former Kamloops Indian Residential School on the Tk’emlups te Secwépemc reserve. (Allen Douglas/Kamloops This Week)
Tk’emlups preparing for archaeological work at B.C. residential school site where remains found

The 215 graves are, to the band’s knowledge, undocumented deaths for which it is still collecting records

Most Read