Month-To-Date Market Statistics

Monday, August 29/11

MTD August
2011               2010
Net Unconditional Sales:   469                425
New Listings:                 1,056               956
Active Listings:               4,811            4,356

Please Note

•Left Column: stats so far this month
•Right Column: stats for the entire month from last year

Data provided courtesy of Victoria Real Estate Board

While sales are starting to approach last years levels month by month (Victoria Real Estate Board June 2011 – 618, 2010 – 625), inventory has continued to grow, with over 5000 houses, condos, townhomes and other properties available for sale on the VREB MLS®, the highest monthly level in 15 years. This is creating very favourable conditions for buyers, many properties to choose from, a plateau on prices and still very attractive interest rates for financing.

Sales in VREB  are down 21 per cent this year compared to a this point in 2010, but as President Dennis Fimrite explain “It’s important to note, however, that the first few months of last year were very active compared to this year and we are now seeing a return to similar market conditions of a year ago.”

June 2011 Average Price Graph

The Vancouver Island Real Estate Board showed a 1% decrease in sales and a 1% lower average price for single family homes from May to June, but overall holding steady.  Since 2011, prices have actually increased by 1% for single family homes in the Cowichan Valley (up to $352,853)  and VIREB President Jim Stewart remarks ”There have been some encouraging sales in other sectors such as water front and lots.”