February 1, 2011
The number of property sales throughout Greater Victoria showed little movement in January while overall
prices remained stable. A total of 339 homes and other properties sold in January through the Victoria Real
Estate Board’s Multiple listing Service® (MLS®), down slightly from the 349 sales in December. There were
418 sales in January of last year.
Victoria Real Estate Board President, Dennis Fimrite, noted that January’s figures reflect the continuation of
the return to a stable and balanced market that began last year, "Historically, the winter months are usually a
slower time for real estate sales and we anticipate market activity will pick up as we head toward spring."
Fimrite noted that inventory levels showed little change in January. "There were 3,283 properties available for
sale at the end of January - a slight increase compared to the 3,252 properties available at the end of
December," he added.
The average price for single-family homes sold in Greater Victoria last month was $603,401 down from
$647,063 in December. The median price, however, rose slightly to $576,000. The six-month average was
virtually unchanged at $619,875. There were 12 single family home sales of over $1 million in January including
one on the Gulf Islands. The overall average price for condominiums was $323,002 last month, up from
$301,671 in December. The average for the last six months was virtually unchanged at $320,108. The median
price for condominiums in January rose to $293,000. The average price of all townhomes sold last month rose
to $447,792 from $434,783 in December. The median price also rose slightly to $418,050 while the six month
average rose to $435,749.
MLS® sales last month included 178 single family homes, 90 condominiums, 39 townhomes and 11
Information provided by Victoria Real Estate Board