Solid Greater Victoria real estate numbers reflect catchup from past

Sales numbers up, but prices remain stagnant in Greater Victoria

Greater Victoria home sales were up 37 per cent in October compared to last year, according to figured released by the Victoria Real Estate Board.

According to the board’s multiple listing service system, 512 properties were sold last month compared to 373 in October 2012. There were 4,322 active listings.

“While we are all very pleased with the October results, we are tempering our enthusiasm,” said Shelley Mann, board president. “After a slow market for the last half of 2012, we are still climbing back to previous sales numbers.”

The benchmark, or median price for a single-family home in Greater Victoria was $485,400, an increase of 0.15 per cent over the past month but a 3.18-per-cent decrease from last October. On the West Shore the median was $410,600, a decrease of 0.37 per cent over the past month and a 4.3-per-cent decrease from last year.

On the Peninsula, the median selling price was $508,700, up 1.22 per cent over the past month, but down 3.56 per cent from the same time last year.

There were 274 single-family homes sold in October, an increase of 29 per cent over last year. October also saw 126 condominium and 51 townhouse sales in Greater Victoria. Benchmark prices for condos and townhouses were $283,100 and $393,100, respectively.

There were 17 waterfront homes sold, up two from last October, and 16 homes sold for more than $1 million, one more than 2012.

More information can be found at vreb.org.

reporter@vicnews.com

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