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

Tsartlip canoe team pulls for international glory in Australia

Geronimo Canoe Club paddles to Victoria to kick-start fundraising

The Nellie McClung Library is booked for June 22 and 23

Friends of the Library announce a big summer book sale the Nellie McClung branch

Average housing prices would have to drop by $413,000 for Victoria to become affordable

Alternatively, salaries need to increase to $134,000 per year, more than double current levels

Bears have killed 17 people in B.C. since 1986

Number of bear complaints and bears killed rose sharply during same period

Oak Bay resident wins fight to remove tree

With St. Patrick Street tree removal, Oak Bay now aims to plant 6,401 trees

Victoria Weekender: What’s happening this weekend, June 15-16

Car Free YYJ, a barber battle and an Outdoor Discovery Day

Homalco tour gives glimpse into area’s ‘People, Land, Water’

First Nation business mixes cultural components with wildlife excursions

Cyclists competing in one of the toughest bike races on the planet pass through Fernie

Divide riders looking strong as they finish first leg of 4160 km race

You might not know these B.C. records are public

Hired a lawyer to file a civil claim? Those are published online

Teen stabbed after end-of-night limo dispute in downtown Vancouver

A young man, 19, is in serious condition following a dispute between two groups

B.C. bus driver loses case to get job back after texting while driving full bus

An arbitator ruled that Tim Wesman’s phone usage was a “a reckless disregard for public safety”

Revamped B.C. Lions set to battle veteran Winnipeg Blue Bombers

The Lions’ first test of the season will be a big one

No business case for Trans Mountain expansion, says former environment minister

Cabinet is expected to announce its decision on the expansion of the Alberta-to-B.C. pipeline by Tuesday

LETTER: British Columbia’s forest industry crisis being made worse

Andrew Wilkinson warns of regulatory overload by John Horgan’s NDP

Most Read