Embed Size (px)
DESCRIPTION
The perfect source for keeping your finger on the pulse of the Greater Victoria real estate market.
Citation preview
MARKET UPDATE
NOVEMBER
2014
Holmes Realty Ltd. 2481 Beacon Ave.
Sidney, BC V8L 1X9
250-656-0911
WWW.HOLMESREALTY.COM
November 3, 2014, Victoria BC – The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for October 2014.
602 properties sold in the Victoria region this October, an increase of 17.6% when compared to the 512 properties sold in the same month last year.
“Here we are again, a month in 2014 ending with more sales than in 2013,” Victoria Real Estate Board President Tim Ayres says. “This year has been a solid year for local real estate – indeed we are only 154 transactions away from meeting the total number of sales from 2013 – and there are two more months left in the year!”
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $547,800. This month the benchmark value increased to $553,900.
“All year we’ve seen a decrease in the number of active listings and increase in sales compared to 2013 numbers,” adds President Ayres. “Last year at the end of October we saw 4,322 active listings, and this year we see 3,927 active listings, that’s a 9.1% change.”
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2011 339 488 622 574 572 618 523 542 458 483 482 339
2012 372 497 570 586 659 637 523 462 419 373 366 283
2013 294 394 483 615 659 664 583 540 487 512 412 355
2014 342 412 575 664 714 680 681 609 565 602
200
300
400
500
600
700
800
Num
ber
of
Sale
sMonthly Sales Comparison
Greater Victoria - (2011-2014)
602
STRONG VICTORIA MARKET AGAIN IN OCTOBER
7.1
7.9 8.0
8.79.0
10.4
9.99.5
9.9
9.4
8.8
8.38.5
9.19.4
9.8 10.0
9.48.9
8.89.2
9.59.7 9.6
10.6
11.511.9
11.2
10.5
9.3
8.4
7.87.7 7.5 7.5 7.4
7.9
9.09.3
9.69.2
8.3
7.4
6.6 6.56.1
2
3
4
5
6
7
8
9
10
11
12
January
February
March
April
May
June
July
August
Septem
ber
October
Novem
ber
Decem
berM
onth
s of
Invento
ry
Absorption RateGreater Victoria Area - (2011-2014)
2011 2012 2013 2014
CAPITAL REGION SALESWHAT IS AN
ABSORPTION RATE?
The rate at which available homes are sold in a specific market during a giv-en time period.
The rate shows how many months it will take to exhaust the supply of homes. An value over 6 is gen-erally considered a Buyers market. Un-der 6 is generally a Sellers market.
0
1000
2000
3000
4000
5000
Active Listings / Number of SalesGreater Victoria - (last 24 months)
Active Listings Number of Sales
2.15
4.15
2.402.68
4.41
1.812.10
3.86
5.22
2.51
5.57
3.28
3.86
7.917.58
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
9.00
Month
s of
Invento
ryAbsorption Rates - Single Family Detached
October 2014
4.83
5.77
4.08
11.45
5.47
4.66
8.11
3.16 3.00
3.88
6.07
0.00
2.00
4.00
6.00
8.00
10.00
12.00
Month
s of
Invento
ryAbsorption Rates - Condominiums
October 201463.00
3.11
6.00
0.67
4.33
2.60
3.22
3.83
1.45
3.00
1.32
3.69
4.60
11.00
0.00
2.00
4.00
6.00
8.00
10.00
12.00
Month
s of
Invento
ryAbsorption Rates - Townhouses
October 2014
0
1
2
3
4
5
6
5.22
n/a
3.00
n/a
2.513.00
1.32
0.00
3.86
3.16
1.45
3.60
Absorption Rates - Saanich PeninsulaOctober 2014
North Saanich Sidney Central Saanich
SINGLE FAMILY DETACHED
North Saanich Central Saanich SidneyListed Sold Listed Sold Listed Sold
$0 – $499K 5 2 7 3 21 3
$500K – $799K 29 15 23 8 2 3
$800K – $999K 13 4 8 2 2 0
$1000K – $1999K 20 4 10 1 4 0
$2000K + 11 0 5 0 0 0
CONDOS & TOWNHOMES
PENINSULA Listed Sold
$0 – $199K 5 1
$200K – $399K 26 19
$400K – $799K 22 7
$800K – $999K 0 0
$1000K + 2 0
MANUFACTURED
PENINSULA Listed Sold
$0 – $99K 3 0
$100K – $149K 6 0
$150K – $199K 1 0
$200K – $249K 1 2
$250K + 1 1
SFD WATERFRONT
PENINSULA Listed Sold
$0 – $999K 7 2
$1000K – $1499K 10 0
$1500K – $1999K 5 1
$2000K – $2999K 3 0
$3000K + 10 0
LOTS & LAND
PENINSULA Listed Sold
$0 – $299K 5 1
$300K – $499K 18 1
$500K – $699K 8 0
$700K – $999K 6 1
$1000K + 11 0
“Listed” : The number of MLS listings presently on the market at the end of the month indicated.“Sold” : The number of MLS listings with unconditional offers in the month indicated.
PENINSULAINVENTORY VS SALES(By Price Range) - October 2014
![HOLMES,GEORGE · Holmes Spear, dec ], and George Holmes, heirs of Oliver Holmes subsequent to his death. I always understood that Oliver Holmes got the lot from Kamehameha 1. Holmes](https://img.pdfslide.net/doc/110x75/60677df317bc235d9b7d2724/holmesgeorge-holmes-spear-dec-and-george-holmes-heirs-of-oliver-holmes-subsequent.jpg)
