Monday, March 9, 2015

March 9th Market Update

MLS numbers update courtesy of the VREB via Marko Juras. These numbers are for the Victoria Real Estate Board's reporting area, including Sooke, Shawnigan Lake and the Gulf Islands.


March 2015
March
 2014
Wk 1Wk 2Wk 3Wk 4
Unconditional Sales132



575
New Listings396


1286
Active Listings3562


4050
Sales to New Listings
33%



45%
Sales Projection--



Months of Inventory
7.0


This week last year we also had exactly 132 sales.   There are 10% more new listings coming online this year though so the months of declining inventory might be limited.  

210 comments:

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CuriousCat said...

A Kenmore listing just came on at 525k, thats about what it would have sold in 2007. I saw a house in 2006 listed at 500k in GH that sold in one day(not as nice). No increase in prices in 8 years. I had an agent tell me in 2007 that prices will double in ten years. A guy I know that bought in 2007 just sold for almost the same price one week ago even with rates 50% lower.

It hasn't been 10 years yet, but I don't think prices will double. If you haven't made any improvements, I think prices are pretty flat from where they were in 2008.

Unknown said...

Southern light is important in my books. I'm pretty sure there are a lot of folks who think the same, particularly gardeners.

DavidL said...

@CuriousCat

I totally agree with your comments about the Gorge area. There are some quite lovely places in that neighbourhood, and the Gorge/Tillicum area is slowly being gentrified. You seem to have found a very nice work/home/life balance.

DavidL said...

@Totoro
Southern light is important in my books. I'm pretty sure there are a lot of folks who think the same, particularly gardeners.

My fruit trees and veggie garden agree with you! (My back yard is a south-facing slope.) My concern about many new SFH's are the tiny impracticable yards.

Ironically, when negotiating with the BC Assessment Authority in January - my minimal front yard (street side) was one of the criteria for reducing my assessed land value. Of course, this means I have a bigger back yard than my neighbours. ;-)

vicre said...

The Gorge is still largely a working class neighbourhood, lots of pickup trucks. At one time it was very beautiful as families took pride in their gardens and lawns(my Dad told me)but it has fallen from grace. Remember the Rena Virk murder and how the kids that killed her were from dysfunctional families. You don't find that on the East side of town as much because educated parents can afford more expensive homes in higher socioeconomic areas and they instill discipline in their children.

Even Gordon Head looks unkept because there is lots of rental properties so the landscaping is kept simple and no beautiful lawns which is carpet for the outdoors-it makes a statement.

Johnny-Dollar said...

Peter Kyun Joon Lee, the man believed to be at the centre of a mass murder-suicide case in Victoria, seemed to have everything to live for —a wife, a young son and a $1-million home in an upscale neighbourhood.

Yetthe Korean restaurateur apparently barricaded himself inside his Oak Bay house early Tuesday and killed his wife, their six-year-old son and two other occupants of 310 King George Terrace.

...And the myths about real estate still continue

vicre said...

Forgot about that one Jack.

Thank you for all contributions about RE as its been very insightful and saved me a lot of money.

Some people do enjoy driving but not for more than 10 to 15 mins., who wants to sweat plus we live in a car culture although that seems to be changing.

Unknown said...

Minimal front yards are good! Who uses a front yard. Bonus for getting a reduction on your assessment.

Gardening is my hobby. Without a south-facing yard I could not grow nectarines, peaches and apricots.

Introvert said...

I don't know of many women who would want to trade down.

So, Just Jack, most of the women you know are superficial.

Unknown said...

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